All Stories

Categories

BMTN Info

Powered by WordPress.com VIP

News

Today's Radio Headlines

August 29, 2014

Accretive slashes forecast as Minnesota exit hits profits

It’s only been days since Accretive Health said it would pull its business out of Minnesota to settle a 6-month-old lawsuit by the state of Minnesota that had led to the loss of a contract for the company.

But it didn’t take long for the loss of that business to hurt the company’s bottom line, Reuters reports. Accretive Health Inc.’s quarterly results missed analysts’ expectations, and the medical billing services company cut its full-year forecast, Reuters says.

The lawsuit accused the company of violating state and federal health privacy laws through aggressive collection tactics.

The settlement banned the company from the state for at least two years.

Accretive had denied Minnesota’s charges, but ultimately agreed to settle.