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Accretive Health shares plunge after critical report from Minn. AG on collection tactics
ST. PAUL, Minn. (AP) ' An Illinois medical debt collection company's stock is falling 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."