HMS Holdings Corp. : HMS Awarded Recovery Audit Contractor Contract by the State of Nevada
03/26/2012| 02:15pm US/Eastern
a wholly owned subsidiary of HMS
Holdings Corp. (NASDAQ:HMSY), announced today that it has been
awarded a contract by the Nevada Department of Health Care Financing and
Policy (DHCFP) to serve as the State's Recovery Audit Contractor (RAC).
Under the terms of this contract, HMS
will perform services outlined in the RAC portion of the Affordable Care
Act, including identifying and recovering unnecessary or inappropriate
Medicaid payments for services. The contract extends through December
is honored to have been selected as the RAC contractor for Nevada," said
Maria Perrin, HMS Chief Business Officer. "We are committed to
continuing to helping DHCFP achieve their goal of providing affordable
health coverage to vulnerable populations while complying with federal
mandates and containing costs."
has provided cost containment services to Nevada since 2004. During that
has recovered more than $55 million on behalf of the State, and helped
achieve over $285 million in additional cost-avoidance savings.
is the nation's leader in coordination
of benefits and program
integrity services for healthcare payers. HMS's
health and human services programs in more than 40 states; commercial
programs, including commercial plans, employers,
and over 120 Medicaid
managed care plans; the Centers for Medicare and Medicaid
Services (CMS); and Veterans
Administration facilities. As a result of the company's services,
clients recovered over $2 billion in 2011, and saved nearly $7 billion
through the prevention of erroneous payments.
Francesca Marraro (media relations)
Saenz (investor relations)
© Business Wire 2012