Performant Financial Corporation Re-Awarded CMS RAC Region 1 Contract
Performant Financial Corporation (Nasdaq: PFMT), (“Performant”, “the Company”), a leading provider of technology-enabled payment integrity, eligibility and related analytics services, today announced that on March 26, 2021, the Centers for Medicare and Medicaid (CMS) awarded Performant an 8.5 year contract to serve as the Region 1 Recovery Audit Contractor (RAC). This contingency fee contract was awarded via a full-and-open competitive procurement.
Region 1 consists of 11 states across the Northeast and eastern-Midwest region. As the Region 1 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 award underscores our long-standing partnership with CMS and is a direct result of our team’s hard work and dedication since the contract was first awarded in 2016,” stated Simeon Kohl, SVP and GM Healthcare. “In addition to Region 1, Performant is also the nationwide Region 5 RAC for Durable Medical Equipment, Prosthetics, Orthotics and Supplies (DMEPOS) and Home Health and Hospice (HH&H) claims, and the exclusive contractor for the Medicare Secondary Payer (MSP) Commercial Repayment Center contract, Kohl highlighted. “It is always an honor to serve CMS and we are grateful to have the quality and value of our work affirmed through this award.
About Performant Financial Corporation
Performant helps government and commercial healthcare payors enhance revenue and contain costs by preventing, identifying, 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 recovery audit services for more than nine years to both commercial and government clients, including serving as a Recovery Auditor for the Centers for Medicare and Medicaid Services.
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.