Accretive Lowers Forecast, Promises To Release Its Own Report On Minn. Probe

The billing and collection company has denied allegations by the Minnesota attorney general that it used overly agressive tactics on patients.

The New York Times: After Questions On Tactics, Accretive Cuts Forecast
Despite a surge in revenue in the first quarter, Accretive Health on Wednesday lowered its earnings estimate for 2012 because of the loss of an important contract amid accusations that the medical debt-collection company had used overly aggressive tactics (Silver-Greenberg, 5/9).

Reuters: Accretive Health Revenue Beats, Shares Rise
Accretive Health Inc's quarterly revenue topped market expectations as the company increased its customer base even as it faces allegations that it violated patient privacy and debt collection laws, sending its shares up as much as 20 percent on Wednesday (Siddiqui, 5/9).

Modern Healthcare: Accretive CEO Rejects Allegations; Company Revises Financial Outlook
Accretive Health's chief executive said no other state attorneys general have contacted the company following a scathing report by Minnesota's attorney general. Accretive CEO Mary Tolan, speaking in a conference call with analysts, rejected allegations brought by Minnesota Attorney General Lori Swanson that Accretive may have violated privacy and consumer protection laws (Evans, 5/9).

Minnesota Public Radio: Accretive Health Faces Questions After AG Begins Probe
Meanwhile, [Tolan] said the company plans to release more detailed information about the case on Friday in response to questions raised by Sen. Al Franken, D-Minn. (Dunbar, 5/9).  

(St. Paul) Pioneer Press: Accretive Health To Answer Franken's Questions, CEO Says 
Last month, Franken sent Accretive Health a lengthy set of questions based on Swanson's investigation and followed up Tuesday with a letter scolding the firm for not yet providing answers. Fairview [health system] cut its final contractual tie with Accretive Health in the wake of Swanson's report (Snowbeck, 5/9).

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