Vermont’s Department of Financial Regulation has been investigating the billing and debt collection practices of Accretive Health, Inc. (NYSE: AH) since the summer and this week reported that it did not find any evidence the revenue cycle management company violated any state laws.
The state subpoenaed Accretive Health after it reached a settlement with the state of Minnesota in July. That settlement followed months of very public allegations against the company, primarily by state attorney general Lori Swanson.
Vermont officials wanted to know if the company had engaged in any of the practices in its state alleged by Swanson.
The Department of Financial Regulation said this week that its investigation found that Accretive has only one contract with a hospital that provides services to Vermonters: Dartmouth-Hitchcock Medical Center in neighboring New Hampshire.
State officials reviewed the contracts between Accretive and Dartmouth-Hitchcock and found nothing out of the ordinary. The investigation also could not find any evidence of a single complaint logged against the company.
Furthermore, the hospital reported that it was very satisfied with the relationship it has with Accretive.
“Our experience with Accretive has been positive,” a hospital spokesman told VTDigger.org.
According to the spokesman, Accretive provides technology and other services to the hospital’s revenue management department.