Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of Accretive Health, Inc. (“Accretive Health” or the “Company”) (NYSE:AH) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by Accretive Health between March 2, 2011 and April 24, 2012 regarding the Company’s business and operations were false and misleading.
Accretive Health provides revenue cycle management services for hospitals and healthcare providers in the United States, including integrated revenue cycle management services, quality and total cost-of-care services and physician advisory services. The investigation concerns a lawsuit filed in United States District Court by the Minnesota Attorney General alleging that Accretive Health violated state and federal health privacy laws, state debt collection laws, and state consumer protection laws. Among other things, the lawsuit alleges that Accretive Health gained access to sensitive patient data through contracts with two Minnesota hospital systems and numerically scored patients’ risk of hospitalization and medical complexity, graded their “frailty,” compiled per-patient profit and loss reports, and identified patients deemed to be “outliers.” According to a press release issued by the Minnesota Attorney General announcing the lawsuit, Accretive Health “found a way to essentially monetize portions of the revenue and health care delivery systems of some nonprofit hospitals for Wall Street investors, without the knowledge or consent of patients who have the right to know how their information is being used and to have it kept confidential.”
If you purchased Accretive Health securities during the foregoing period, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at 215-638-4847, Toll Free at 888-638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.