Accretive Health Announces Termination Of Its Quality And Total Cost Of Care Services Contract By Fairview Health Services
Accretive Health, Inc. (NYSE: AH) said today that it has received notice of termination from Fairview Health Services of its Quality and Total Cost of Care (“QTCC”) services contract. The terms of the transition have yet to be determined. The Company will update its business outlook on its quarterly earnings call on May 9, 2012.
Accretive Health said that it regrets that the recent activities of the Minnesota Attorney General have created a situation where Fairview felt it necessary to cancel its work with the Company in QTCC. The Company intends to work with Fairview to preserve the good results that have been achieved and will continue to invest in this important area.
Accretive Health also said it has received reiterations of support from other clients who recognize the value of Accretive Health’s ability to help hospitals and other healthcare providers enhance their quality of care. This show of support is consistent with the Company’s mission of being a constructive and positive contributor to the American healthcare system.
About Accretive HealthAccretive Health partners with healthcare providers to help them more effectively manage their revenue cycles, strengthen their financial stability, and improve the quality of care they provide while reducing overall healthcare costs. Our people, processes and sophisticated integrated technology complement our clients' existing resources to enhance results for patients, physicians and staff. For more information, please visit www.accretivehealth.com. Safe Harbor Statement This document contains forward-looking statements, including statements regarding outstanding issues with the Minnesota Attorney General and the Company’s efforts to facilitate an orderly transition of its QTCC services at Fairview Health Services, which involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors, including those set forth in our Annual Report on Form 10-K filed with the SEC on February 29, 2012, under the heading "Risk Factors". The words "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "would," “will,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that the expectations underlying any of our forward-looking statements are reasonable, these expectations may prove to be incorrect and all of these statements are subject to risks and uncertainties. Should one or more of these risks and uncertainties materialize, or should underlying assumptions, projections, or expectations prove incorrect, actual results, performance, financial condition, or events may vary materially and adversely from those anticipated, estimated, or expected.
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