HMS and OMIG Achieve Record Recoveries in Q2 2011
NEW YORK--(BUSINESS WIRE)--
(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)
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
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.
Francesca Marraro, 212-857-5442
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