Performant Financial Corporation announced that the Centers for Medicare and Medicaid (CMS) awarded Performant an 8.5 year contract to serve as the Region 2 Recovery Audit Contractor (RAC). This contract was initially awarded via a full-and-open competitive procurement on March 24, 2022 and following a voluntary corrective action process that was initiated by CMS, the agency re-affirmed its initial award determination, that Performant's proposal represents the best value for the Government. Region 2 consists of the following states: IL, MN, WI, NE, IA, KS, MO, CO, NM, TX, OK, AR, LA, and MS. As the Region 2 RAC, Performant will perform post-payment reviews of Part A and B Medicare fee-for service claims to identify and support the recoupment of improperly paid claims. Any updates related to the contract will be posted on the Company's CMS RAC Provider webpages.

In addition to Region 2, Performant is also the RAC for Region 1, which consists of 11 states across the Northeast and eastern-Midwest region, and the nationwide Region 5 for Durable Medical Equipment, Prosthetics, Orthotics and Supplies (DMEPOS) and Home Health and Hospice (HH&H) claims. Further, Performant is the exclusive contractor for the Medicare Secondary Payer (MSP) Commercial Repayment Center contract and was recently selected as the sole national medical reviewer for the HHS Office of the Inspector General.