Accretive touts client gains after third-quarter net loss
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.