Tags: accretive health | Debt Collector | Hospitals

Accretive Health Shares Plummet on State Critique

Wednesday, 25 Apr 2012 05:18 PM

An Illinois medical debt collection company's stock fell sharply after a critical report on its practices from the Minnesota attorney general.

Shares in Accretive Health Inc. plunged more than 40 percent on Wednesday, to below $11, after the company was accused of routinely pressuring patients to pre-pay for services at two Minnesota hospital systems.

Attorney General Lori Swanson released a six-volume report Tuesday that says Chicago-based Accretive did bedside debt collections and targeted vulnerable emergency room patients and expectant mothers.

The report also says Accretive debt collectors had access to private patient medical history.

A spokeswoman for Accretive, Rhonda Barnat, says the firm has "a great track record of helping hospitals enhance their quality of care."

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