, a wholly owned subsidiary of
HMS Holdings Corp
. (NASDAQ:HMSY), announced today that its partnership with Iowa Medicaid produced millions more than expected in savings for State Fiscal Year 2012.
’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.
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.
is delighted to have exceeded projected savings for Iowa last year,” said Maria Perrin,
’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
and the State.
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.
is the nation's leader in
coordination of benefits
. HMS's clients include
health and human services programs
in more than 40 states; commercial programs, including
, and more than 148
plans; the Centers for Medicare and Medicaid Services (CMS); and
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.