State of Alaska Awards Post-payment Recovery and Cost Avoidance Contract to HMS
NEW YORK--(HMS, a wholly owned subsidiary of HMS Holdings Corp. (NASDAQ:HMSY), announced today that it has been awarded a contract by the State of Alaska, Department of Health & Social Services, Division of Health Care Services (DHCS) to provide comprehensive post-payment recovery and cost avoidance services, including insurance policy identification, verification, and maintenance; Medicare A & B recoupments; primary billing services; provider overpayment recovery; credit balance audits; TriCare and commercial insurance recovery; and Health Insurance Premium Payment (HIPP) program administration.)--
The contract runs through June 30, 2014 with three one-year renewal options.
HMS has performed third party liability services on behalf of Alaska for over 20 years. Over the course of the most recent contract term from July 1, 2007—June 30, 2012, HMS provided DHCS with more than $49 million in recoveries and generated $35 million more in cost avoidance savings.
HMS is the nation's leader in coordination of benefits and program integrity services for healthcare payers. HMS's clients include health and human services programs in more than 40 states; commercial programs, including commercial plans, employers, and over 135 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 $2.5 billion in 2011, and saved nearly $7 billion through the prevention of erroneous payment
Posted: July 11, 2012