However, in November, HMS agreed to purchase HealthDataInsights, the Medicare RAC for CMS Region D, for $400 million. After adjusting for the revenue and expenses of that transaction, HMS’ profit is $15.6 million, a 26.2 percent increase from last year.
Revenue in the fourth quarter rose 14.3 percent to a total of $99.7 million. For the entire 2011 fiscal year, HMS’ net income jumped 19 percent from 2010 to $47.8 million. Revenue totaled $363.8 million, an increase of 20 percent from a year ago.
Related Articles on HMS:
HMS Holdings Acquires Medicare Region D RAC for $400M
CMS Approves HMS as Recovery Audit Contractor for New York
HMS to Act as Medicaid RAC for Utah
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
