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Performant Financial Corporation Announces Multi-Year RAC Award from New York State
Performant Financial (Nasdaq: PFMT) has been selected for a tentative award of the New York State Medicaid Recovery Audit Contractor (RAC) by the NYS Office of the Medicaid Inspector General (OMIG). The award spans up to five years, with an initial three-year term and potential for two one-year extensions. Performant will use its technology and claims review services to identify and rectify improper payments in post-payment assessments.
This marks Performant's entry into the significant New York State Medicaid market, estimated to generate $300-$500 million in annual revenue nationwide. The company now holds three out of five CMS RAC contracts and serves as the exclusive partner for CMS' Medicare Secondary Payer Commercial Repayment Center. Performant's CEO, Simeon Kohl, emphasized the company's strong government presence and commitment to serving both government and commercial clients.
This marks Performant's entry into the significant New York State Medicaid market, estimated to generate $300-$500 million in annual revenue nationwide. The company now holds three out of five CMS RAC contracts and serves as the exclusive partner for CMS' Medicare Secondary Payer Commercial Repayment Center. Performant's CEO, Simeon Kohl, emphasized the company's strong government presence and commitment to serving both government and commercial clients.
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