Ac­cre­tive touts client gains af­ter third-quar­ter net loss

Modern Healthcare - - REGIONAL NEWS - —Beth Kutscher

Ac­cre­tive Health, the be­lea­guered rev­enue-cy­cle man­age­ment firm, is try­ing to demon­strate to in­vestors that it has re­gained its fi­nan­cial foot­ing af­ter re­port­ing an­other net loss.

The Chicago-based com­pany posted a net loss of $33 mil­lion on $15.8 mil­lion in rev­enue for the third quar­ter, com­pared with net in­come of $9.6 mil­lion on rev­enue of $90.7 mil­lion in the year­ago pe­riod.

Ac­cre­tive also re­ported that it signed its first rev­enue-cy­cle man­age­ment cus­tomer in more than two years dur­ing the quar­ter, which CEO Dr. Emad Rizk de­scribed on an earn­ings call as a health sys­tem with nearly $700 mil­lion in pa­tient rev­enue.

Ac­cre­tive also added an­other health sys­tem with about $2 bil­lion in rev­enue for physi­cian ad­vi­sory ser­vices. Its client count is now 83.

The com­pany em­pha­sized that it is see­ing se­quen­tial quar­ter-over-quar­ter im­prove­ment.

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