NEW YORK--(BUSINESS WIRE)-- HMS (NASDAQ:HMSY), a wholly owned subsidiary of HMS Holdings Corp., announced today that it has achieved record-breaking recoveries for New York State’s Office of the Medicaid Inspector General (OMIG) in the second quarter of 2011 (SFY Q1).
HMS’s third party liability and RAC/Federal-State Healthcare Reform Partnership (FSHRP) recovery efforts resulted in a combined $65M in total recoveries for OMIG in the second quarter of this year. In addition, HMS also helped OMIG achieve $488M in cost avoidance savings.
“We are proud to have achieved such remarkable results for OMIG in Q2,” said Maria Perrin, HMS’s Chief Business Officer. “We look forward to continuing to work with New York State to help maintain the fiscal and operational viability of its Medicaid program.”
HMS has performed third party liability and program integrity services on behalf of New York since 2002. During that time, HMS has recovered over $1 billion on behalf of New York Medicaid and has generated billions more in cost avoidance savings.
About HMS (NASDAQ:HMSY)
HMS is the nation's leader in coordination of benefits and program integrity services for healthcare payors. HMS's clients include 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 $1.8 billion in 2010, and saved billions of dollars more through prevention of erroneous payments.
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