NEW YORK, Oct. 12 /PRNewswire-FirstCall/ -- The Oklahoma Health Care Authority has awarded Health Management Systems, Inc. a contract to help contain costs paid by the state’s Medicaid program. Under the contract, HMS will identify and recover pharmacy expenditures for which another party, such as Medicare or private insurance, is liable. In addition, the contract allows HMS and OHCA to expand their collaboration, by calling for HMS to recover other types of expenditures as directed by the agency. In its previous work for OHCA, which dates to 2002, HMS performed pharmacy cost recovery exclusively.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030304/NYTU172LOGO )
HMS, a wholly owned subsidiary of HMS Holdings Corp. , helps government health care programs contain costs by recovering inappropriate expenditures.
Medicaid is the joint federal/state health care initiative for low-income Americans. Medicaid costs are expected to reach $329 billion in 2005, and represent the single largest - and fastest-rising - cost for state government. The Oklahoma Medicaid program cares for roughly 700,000 recipients, at an annual cost of nearly $2.8 billion.
“The Oklahoma Health Care Authority is committed to providing quality health care to the people we serve,” said Mike Fogarty, Chief Executive Officer of the agency. “Clearly, pharmacy benefits are a vital part of our health care program. Health Management Systems is an important partner in safeguarding these benefits.”
HMS Holdings President & Chief Operating Officer William Lucia said, “The state of Oklahoma, like many states, is working to deliver health care services in the most fiscally responsible manner possible. Health Management Systems is pleased to once again be part of the solution.”
Health Management Systems, Inc. is a national leader in revenue recovery and cost containment for government health care programs. HMS has recovered $3 billion from third parties and other funding sources on behalf of its clients, and today has active contracts in 25 states. HMS’s solutions are non-duplicative and require no additional agency resources. HMS, a wholly owned subsidiary of HMS Holdings Corp. (listed on Nasdaq under the symbol HMSY), is headquartered in New York and operates offices nationwide.
Photo: http://www.newscom.com/cgi-bin/prnh/20030304/NYTU172LOGOHMS Holdings Corp.
CONTACT: media relations, William Hall, +1-212-857-5407, whall@hmsy.com,or investor relations, Laura Jo Snyder-Cruz, +1-212-857-5986, ir@hmsy.com,both for HMS Holdings Corp.
Web site: http://www.hmsy.com/
