Accretive Health Removed from NYSE for Failing To Report Financials
March 19, 2014 in News
Accretive Health, a revenue-cycle management company, did not meet a New York Stock Exchange deadline for reporting its financial outcomes and will trade in the over-the-counter market as a result, Modern Healthcare reports.
According to Modern Healthcare, Accretive was “delisted” from NYSE because it has yet to restate financial results dating back to 2011.
The company said it must restate results to compensate for errors related to the process of recognizing returns from its contracts.
The company’s results from 2012 and 2013 also have yet to be reported.
Over the past several years, Accretive has been involved in several legal challenges regarding patient privacy breaches and improper bill collection practices, according to Modern Healthcare (Kutscher, Modern Healthcare, 3/17).