Performant Financial announces multi-year RAC award from New York State

Performant Financial announced that it has been selected for tentative award of the New York State Medicaid Recovery Audit Contractor, or RAC, with the NYS Office of the Medicaid Inspector General. “This award, following a rigorous competitive bidding process, spans up to five years and includes an initial three-year term with the possibility of two additional one-year extensions. Upon the successful execution of a contract, Performant will utilize its advanced technology and claims review services to perform post-payment assessments on select claims, aiming to identify and rectify any improper payments,” the company stated. “We are honored to bring nearly two decades of payment integrity experience to the New York State Medicaid Program. This award not only highlights our success in capturing business from long-standing industry incumbents, but it also represents our inaugural opportunity to serve this significant state Medicaid market, a nationwide market that we believe generates between $300 to $500 million in annual revenue. Performant was chosen for its exceptional value, and we are excited to apply our proven capabilities to complement OMIG’s robust program integrity efforts,” said Simeon Kohl, Chief Executive Officer.