NEW YORK, Aug. 23 /PRNewswire-FirstCall/ -- Health Management Systems, Inc. will coordinate benefits on behalf of the Illinois Pharmaceutical Assistance Program, under a contract with the Illinois Department of Public Aid.
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HMS will apply its proprietary technology and databases to recover expenditures from health insurance sources that are liable for care of the Program’s 55,000 participants.
The Illinois Pharmaceutical Assistance Program insures the costs of chronic disease medications for low-income seniors and individuals with disabilities. In 2003, the Program’s expenditures for prescription drugs totaled more than $68 million.
HMS, a wholly owned subsidiary of HMS Holdings Corp. , helps government health care programs contain costs by recovering expenditures from liable third-party sources of health insurance. To date, HMS has recovered a total of more than $2.25 billion for clients. Drawing on electronic billing platforms, real-time claims submission, and other specialized capabilities, HMS has been particularly successful in recovering pharmacy expenditures. In fact, these represent approximately one quarter -- more than $500 million -- of the total amount HMS has recovered for clients.
“The rising cost of prescription drug coverage has created daunting fiscal challenges for state government, but public programs recognize the value that HMS’s technology-based coordination of benefits can bring,” HMS President William Lucia commented. “HMS’s pharmacy recovery services help state programs contain costs, and fulfill their mission to beneficiaries. We are proud to be making this contribution in the state of Illinois.”
ABOUT HMS
Health Management Systems, Inc. is a national leader in revenue recovery and cost containment for government health care programs. HMS has recovered more than $2.25 billion from third parties and other funding sources on behalf of its clients, and today has active contracts in more than 20 states. HMS’s solutions are non-duplicative and require no up-front funding or 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.
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CONTACT: Investor Relations - Laura Jo Snyder-Cruz, +1-212-857-5986,ir@hmsy.com, or Media - William Hall, +1-212-857-5407, whall@hmsy.com, both ofHealth Management Systems, Inc.
Web site: http://www.hmsy.com/
