HMS and State of Iowa Saved Medicaid Millions More Than Expected Last Year
NEW YORK--(BUSINESS WIRE)-- HMS, a wholly owned subsidiary of HMS Holdings Corp. (NAS: HMSY) , announced today that its partnership with Iowa Medicaid produced millions more than expected in savings for State Fiscal Year 2012.
HMS's third party liability recovery efforts resulted in approximately $228 million in recoveries and cost avoidance savings in SFY 2012, exceeding expectations for the year by more than $14 million.
"HMS has helped Iowa achieve substantial savings and recoveries without impacting healthcare services for 400,000 Iowans or increasing burdens on our many dedicated providers," said Jennifer Vermeer, Iowa's Medicaid Director.
"HMS is delighted to have exceeded projected savings for Iowa last year," said Maria Perrin, HMS's Chief Marketing Officer. "We are committed to continuing to deliver uncompromising service to the State in support of their Medicaid enterprise."
The latest results build on a track record of success for HMS and the State. HMS has performed third party liability and program integrity services on behalf of Iowa since 1984, and as part of the Iowa Medicaid Enterprise (IME) since 2005. Since the implementation of the IME in 2005, HMS has recovered more than $322 million on behalf of the State and generated more than $1 billion 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 more than 148 Medicaidmanaged care plans; the Centers for Medicare and Medicaid Services (CMS); and Veterans Administration facilities. As a result of the company's services, clients recovered $3.2 billion in 2012, and saved billions more through the prevention of erroneous payments.
KEYWORDS: United States North America Iowa New York
The article HMS and State of Iowa Saved Medicaid Millions More Than Expected Last Year originally appeared on Fool.com.