NEW YORK--(BUSINESS WIRE)-- HMS (NASDAQ:HMSY), a wholly owned subsidiary of HMS Holdings Corp., announced today that is has been awarded a contract by the State of Tennessee, Department of Finance and Administration, Bureau of TennCare (Medicaid) to provide third party liability services, including estate recovery, cost avoidance, subrogation, Medicare crossover claims review, commercial insurance billing, and credit balance audits. HMS will also provide Improper Medicaid Payment Audit and Recovery services. The contract extends through January 31, 2014, with two additional one-year renewal options.
“We look forward to continuing our partnership with the Bureau of TennCare, where we have demonstrated our understanding of the unique features associated with TennCare and the managed care environment in which it operates” said Maria Perrin, HMS Executive Vice President for Government Services. “We are especially pleased to assist the State in complying with the mandate of the Affordable Care Act for expansion of the Recovery Audit Contractor (RAC) program to Medicaid.”
HMS has recovered more than $180 million for Tennessee, and generated more than $1 billion in cost 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 recover over $1 billion annually, and save billions of dollars more in the prevention of erroneous payments.
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HMS
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Francesca Marraro, 212-857-5442
[email protected]
or
Investor Relations
Christine Saenz, 212-857-5986
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KEYWORDS: United States North America New York
INDUSTRY KEYWORDS: Health Professional Services Human Resources Insurance General Health Managed Care
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