Performant Financial Corporation Awarded New York State Medicaid RAC Contract
October 04 2023 - 4:09PM
Business Wire
Performant Financial Corporation (Nasdaq: PFMT) (Performant or
the Company), a leading provider of technology-enabled payment
integrity, eligibility, and related analytics services, announced
that New York State’s Office of the Medicaid Inspector General
(OMIG) awarded Performant its 2023 Recovery Audit Contractor (RAC)
contract following an open and competitive procurement process.
This contract will run for five years, consisting of an initial
three-year term, and two one-year renewals. Leveraging advanced
algorithms and sophisticated reviews, Performant’s best-in-class
team will conduct post-payment assessments on designated claims to
pinpoint and rectify improper payments.
Simeon Kohl, Performant’s CEO, expressed his enthusiasm saying,
“We are excited and proud to be named the exclusive RAC contractor
for the State of New York’s Medicaid program. This award builds on
more than 15 consecutive years of successful collaboration between
Performant and the Centers for Medicare & Medicaid Services
(CMS) in our role as a fee-for-service Medicare RAC. Our valued
partnership with government organizations has been built on trust,
expertise, and results, and we are excited to extend our
capabilities to support the state’s program integrity efforts.”
Performant’s appointment as the exclusive RAC contractor for the
State of New York’s Medicaid program comes on the heels of several
remarkable achievements. Notably, the Company now holds three out
of five CMS RAC contracts. Additionally, Performant serves as the
exclusive partner for CMS’ Medicare Secondary Payer Commercial
Repayment Center (MSP CRC) contract and is the sole audit
contractor for the U.S. Department of Health and Human Services
Office of the Inspector General, showcasing its reputation as a
trusted industry leader.
Kohl underscored both the Company's long-term vision and
appreciation for this opportunity, noting, “Our opportunities
remain robust, and our unwavering focus remains on continuing to
serve our valued government and commercial clients. We appreciate
New York State OMIG’s commitment to program integrity and
gratefully acknowledge their faith in Performant. We look forward
to forging a strong partnership and serving the great State of New
York.”
ABOUT PERFORMANT
Performant helps commercial healthcare and government payers
enhance revenue and contain costs by identifying, preventing, and
recovering waste, improper payments, and defaulted assets.
Performant is a leading provider of these services in several
markets, including Medicare, Medicaid, and commercial healthcare.
Performant has been providing healthcare recovery audit services
for more than a decade and works with leading national payers,
regional payers, and Blues plans.
Powered by a proprietary analytics platform and workflow
technology, Performant also provides professional services related
to the recovery effort, including advanced reporting capabilities,
support services, customer care, and stakeholder training programs
meant to mitigate future instances of improper payments. Founded in
1976, Performant is headquartered in Livermore, California.
To learn more about Performant, please visit
https://www.performantcorp.com
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version on businesswire.com: https://www.businesswire.com/news/home/20231004527690/en/
Jon Bozzuto, Investor Relations Performant Financial Corporation
(925) 960-4988 investors@performantcorp.com
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