HMS Holdings

HMS Holdings Corp.
Public
Traded as NASDAQ: HMSY
S&P 600 Component
Industry Business Services
Founded 1974
Headquarters Irving, Texas, United States
Key people
 William C. Lucia FLMI
( Chief Executive Officer, President, and Director)
Services cost-containment services
Revenue US$ 503.27M (Sep 30, 2013)
Number of employees
 2,425 (Sep 30, 2013)
Website www.hms.com

HMS Holdings Corp. (Healthcare Management Systems) (NASDAQ:HMSY) was founded in 1974 and is based in Irving, Texas. The company offers cost containment services to healthcare payers and sponsors, including co-ordination of benefits services and program integrity services. Both services aim to ensure that healthcare claims are paid correctly. Customers of the company involve both governments and individuals, like state Medicaid agencies (served 47 states in 2012), the Centers for Medicare & Medicaid Services (CMS), Pharmacy Benefit Managers (PBMs), and the Veterans Health Administration (VHA).

Products and services

The company’s co-ordination of benefits services include providing validated insurance and helping find liable third parties. Their program integrity services identify improper payments and over-payments and attempt recovery, as well as reduce fraud and waste. In addition, the company also supports Medicaid Managed Care Organizations and Medicare Advantage Plans.[1]

Operations

In April of 2017, HMS Holdings acquired the Eliza Corporation, a privately-held health engagement management and member analytics firm providing comprehensive and personalized member-centric outreach and engagement solutions, for a cash purchase price of $170 million.[2]

In December 2012, HMS Holdings acquired the assets and liabilities of MedRecovery Management, LLC (MRM), for about $11.8 million, with $10.8 million initial cash payment and $1.0 million in future contingent payments.[3]

In 2006, the Company announced to acquire the assets of PCG's Benefits Solutions Practice Area (BSPA) for $80 million in cash, shares of Holdings common stock and a contingent cash payment of up to $15 million.[4]

Awards

In February 2014, HMS Holdings’ Chief Security Officer Scott Pettigrew won the CSO Compass Awards by CSO magazine. Pettigrew has been working in Security for about twenty years and spent the last four years at HMS. He led the company’s first risk-based security program in 2010.[5]
In 2012 and 2013, HMS Holdings was included in the InformationWeek 500.[6]
In 2013, HMS Holdings was included on Modern Healthcare magazine's “Healthcare’s Hottest" list as one of the 40 fastest growing companies in healthcare.[7]

References

  1. ↑ "Company Full Description".
  2. ↑ Holdings, HMS. "HMS Holdings Announces Agreement to Acquire Eliza Corporation: Transaction further expands member health and care management analytics footprint". GlobeNewswire News Room. Retrieved 2017-04-26.
  3. ↑ "Form 10-Q for HMS HOLDINGS CORP".
  4. ↑ "HMS Holdings Corp. Announces Acquisition of Public Consulting Group's Benefit Solutions Practice Area.".
  5. ↑ "HMS Holdings Chief Security Officer Wins Once-in-a-Lifetime Award".
  6. ↑ "InformationWeek 500 2013".
  7. ↑ "Healthcare's Hottest for 2013; 40 of the healthcare industry's fastest growing companies".
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