Performant Financial Corporation Awarded CMS RAC Region 2 Contract
November 02 2022 - 7:30AM
Business Wire
Performant Financial Corporation (Nasdaq: PFMT), (“Performant”,
“the Company”), a leading provider of technology-enabled payment
integrity, eligibility and related analytics services, today
announced that the Centers for Medicare and Medicaid (CMS) awarded
Performant an 8.5 year contract to serve as the Region 2 Recovery
Audit Contractor (RAC). This contract was initially awarded via a
full-and-open competitive procurement on March 24, 2022 and
following a voluntary corrective action process that was initiated
by CMS, the agency re-affirmed its initial award determination,
that Performant’s proposal represents the best value for the
Government.
Region 2 consists of the following states: IL, MN, WI, NE, IA,
KS, MO, CO, NM, TX, OK, AR, LA, and MS. As the Region 2 RAC,
Performant will perform post-payment reviews of Part A and B
Medicare fee-for service claims to identify and support the
recoupment of improperly paid claims. Any updates related to the
contract will be posted on the Company’s CMS RAC Provider
webpages.
“This contract win validates our competitive technology platform
and highlights our unique ability to compete,” stated Simeon Kohl,
President of Performant. “This extension of our more than ten-year
partnership with CMS underscores our team’s hard work and
dedication. It is an honor to serve CMS, and we are grateful to
have the quality and value of our work affirmed through this
award.”
In addition to Region 2, Performant is also the RAC for Region
1, which consists of 11 states across the Northeast and
eastern-Midwest region, and the nationwide Region 5 for Durable
Medical Equipment, Prosthetics, Orthotics and Supplies (DMEPOS) and
Home Health and Hospice (HH&H) claims. Further, Performant is
the exclusive contractor for the Medicare Secondary Payer (MSP)
Commercial Repayment Center contract and was recently selected as
the sole national medical reviewer for the HHS Office of the
Inspector General.
About Performant Healthcare Solutions
Performant Healthcare Solutions is a leading provider of
technology-enabled audit, recovery, and analytics services in the
United States with a focus in the healthcare payment integrity
industry. Performant works with healthcare payers through claims
auditing and eligibility-based (also known as
coordination-of-benefits) services to identify improper payments.
The Company engages clients in both government and commercial
markets. The Company also has a call center which serves clients
with complex consumer engagement needs. Clients of the Company
typically operate in complex and highly regulated environments and
contract for their payment integrity needs in order to reduce
losses on improper healthcare payments.
Powered by a proprietary analytic platform and workflow
technology, Performant also provides professional services related
to the recovery effort, including 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, please visit https://www.performanthealth.com
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version on businesswire.com: https://www.businesswire.com/news/home/20221102005274/en/
Richard Zubek Investor Relations 925-960-4988
investors@performantcorp.com
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