Accretive Health net services revenue was $210.1 millionStaff writer ▼ | June 25, 2015
Accretive Health announced results for the twelve months ended December 31, 2014. On a GAAP basis, net services revenue was $210.1 million in 2014 as compared to $504.8 million in 2013.
Accretive Health Net loss was $79.6 million
On a GAAP basis, net loss was $79.6 million in 2014 as compared to net income of $130.1 million in 2013. On a non-GAAP basis, adjusted EBITDA was a loss of $15.7 million in 2014 as compared to $268.7 million in 2013 and net cash generated from customer contracting activities was $7.8 million in 2014 as compared to $15.6 million in 2013.
The company currently serves 79 hospitals with collective net patient revenue (NPR) of $16.5 billion. NPR represents net revenue collected annually by the company’s customers from their patients and is not a measure of the revenue the company recognizes.
Accretive Health expects to generate gross cash from customer contracting activities of $230 million to $240 million for 2015. The company expects net cash from contracting activities to be at the lower end of the $30 million to $40 million guidance range previously provided.
The company’s PAS business continues to experience headwinds from the Two-Midnight Rule, a regulatory change in the healthcare industry.
For the first quarter of 2015, on a GAAP basis, the company expects net services revenue of $9 million to $11 million and a net loss of $29 million to $31 million.
On a non-GAAP basis, the company expects gross cash generated from customer contracting activities of $53 million to $55 million, adjusted EBITDA of a loss of $41 million to $43 million and net cash generated from customer contracting activities of $1 million to $3 million. ■