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{{Infobox company
{{Infobox company
| name = HMS Holdings Corp.
| name = HMS Holdings Corp.
| type = [[Public company|Public]]
| type = [[Privately held company|Private]]
⚫
| industry = Business services
| traded_as = {{NASDAQ|HMSY}}<br>[[S&P 600|S&P 600 Component]]
⚫
| services = Cost-containment services
⚫
| industry = Business Services
⚫
| foundation = {{Start date and age|1974}}
⚫
| services = cost-containment services
⚫
| location_city = [[Irving, Texas]]
⚫
| foundation = 1974
⚫
| location_country = U.S.
⚫
| location_city = [[Irving, Texas]]
⚫
| revenue = US$ 598.3M (Feb 22, 2019)
⚫
| location_country = [[United States]]
⚫
| key_people = William C. Lucia ([[Life Office Management Association|FLMI]]) <br /> ([[Chief Executive Officer|CEO]], [[President (corporate title)|president]], and Director)
⚫
| revenue = US$ 503.27M (Sep 30, 2013)
⚫
| num_employees = 2,425 (Sep 30, 2013)
⚫
| key_people = William C. Lucia FLMI <br /> ({{small| Chief Executive Officer, President, and Director}})
| owner = [[Veritas Capital]]
⚫
| homepage = {{URL| http://www.hms.com/}}
}}{{Advert|date=March 2018}}


'''HMS Holdings Corp.''' (''Healthcare Management Systems'') was founded in 1974 and is based in [[Irving, Texas]]. The company was formerly listed on [[Nasdaq]] but acquired by private-equity firm [[Veritas Capital]] in 2021.<ref>{{cite press release |url= https://www.businesswire.com/news/home/20210401005826/en/Veritas-Capital-Backed-Gainwell-Completes-Acquisition-of-HMS |title=Veritas Capital-Backed Gainwell Completes Acquisition of HMS |date=April 1, 2021 |agency=[[Business Wire]] |publisher=Veritas Capital}}</ref>
⚫
| num_employees = 2,425 (Sep 30, 2013)
⚫
| homepage ={{URL| http://www.hms.com/}}
}}


== History ==
'''HMS Holdings Corp.''' ('''H'''ealthcare '''M'''anagement '''S'''ystems) ([[NASDAQ]]:[http://www.nasdaq.com/symbol/hmsy/real-time HMSY]) was founded in 1974 and is based in [[Irving, Texas]]. The company offers cost containment services to healthcare payers and sponsors, including co-ordination of benefits services and program integrity services. Both services aim to ensure that healthcare claims are paid correctly. Customers of the company involve both governments and individuals, like state Medicaid agencies (served 47 states in 2012), the [[Centers for Medicare & Medicaid Services]] (CMS), [[Pharmacy Benefit Managers]] (PBMs), and the [[Veterans Health Administration]] (VHA).
HMS Holdings was acquired by Gainwell Technologies in 2021 for a reported $3.4 billion.<ref>{{Cite web |last=Roop |first=Jason |date=2021-04-07 |title=Gainwell Technologies acquires health care tech company for $3.4B |url=https://virginiabusiness.com/gainwell-technologies-acquires-health-care-tech-company-for-3-4b/ |access-date=2024-12-03 |website=Virginia Business |language=en-US}}</ref>


== Products and services ==
== Products and services ==
The company’s co-ordination of benefits services include providing validated insurance and helping find liable third parties. Their program integrity services identify improper payments and over-payments and attempt recovery, as well as reduce fraud and waste. In addition, the company also supports Medicaid Managed Care Organizations and Medicare Advantage Plans.<ref>{{cite web |url= http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=HMSY.O|title= Company Full Description}}</ref>
The company's services include providing validated insurance and helping find liable third parties. Their program integrity services identify improper payments and over-payments and attempt recovery, as well as reduce fraud and waste. In addition, the company also supports Medicaid Managed Care Organizations and Medicare Advantage Plans.<ref>{{cite web |url= https://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=HMSY.O|archive-url= https://archive.today/20140228155527/http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=HMSY.O|url-status= dead|archive-date= 2014-02-28|title= Company Full Description| website=[[Reuters]] }}</ref>


== Operations ==
== Acquisitions ==
⚫
In 2006, the Company announced to acquire the assets of PCG's Benefits Solutions Practice Area (BSPA) for $80 million in cash, shares of Holdings common stock, and a contingent cash payment of up to $15 million.<ref>{{cite web |title=HMS Holdings Corp. Announces Acquisition of Public Consulting Group's Benefit Solutions Practice Area. |url=http://www.thefreelibrary.com/HMS+Holdings+Corp.+Announces+Acquisition+of+Public+Consulting+Group's...-a0147352138}}</ref>
⚫
In April of 2017, HMS Holdings acquired the Eliza Corporation, a privately-held health engagement management and member analytics firm providing comprehensive and personalized member-centric outreach and engagement solutions, for a cash purchase price of $170 million.<ref>{{Cite news|url=https://globenewswire.com/news-release/2017/03/13/934870/0/en/HMS-Holdings-Announces-Agreement-to-Acquire-Eliza-Corporation-Transaction-further-expands-member-health-and-care-management-analytics-footprint.html|title=HMS Holdings Announces Agreement to Acquire Eliza Corporation: Transaction further expands member health and care management analytics footprint|last=Holdings|first=HMS|work=GlobeNewswire News Room|access-date=2017-04-26|language=en-US}}</ref>


In December 2012, HMS Holdings acquired the assets and liabilities of MedRecovery Management, LLC (MRM), for about $11.8&nbsp;million, with $10.8&nbsp;million initial cash payment and $1.0&nbsp;million in future contingent payments.<ref>{{cite web |url= http://biz.yahoo.com/e/130513/hmsy10-q.html|title= Form 10-Q for HMS HOLDINGS CORP}}</ref>
The company acquired HealthDataInsights for approximately $400 million in November 2011.<ref>{{Cite web |date=2011-11-07 |title=HMS Holdings acquires HealthDataInsights for $400M |url=https://www.healthcareitnews.com/news/hms-holdings-acquires-healthdatainsights-400m |access-date=2024-12-09 |website=Healthcare IT News |language=en}}</ref> In December 2012, HMS Holdings acquired the assets and liabilities of MedRecovery Management, LLC (MRM), for about $11.8&nbsp;million, with $10.8&nbsp;million initial cash payment and $1.0&nbsp;million in future contingent payments.<ref>{{cite web |url= http://biz.yahoo.com/e/130513/hmsy10-q.html|title= Form 10-Q for HMS HOLDINGS CORP}}</ref>


⚫
In April 2017, HMS Holdings acquired the Eliza Corporation, a privately held health engagement management and member analytics firm providing comprehensive and personalized member-centric outreach and engagement solutions, for a cash purchase price of $170 million.<ref>{{Cite news |last=Holdings |first=HMS |title=HMS Holdings Announces Agreement to Acquire Eliza Corporation: Transaction further expands member health and care management analytics footprint |url=https://globenewswire.com/news-release/2017/03/13/934870/0/en/HMS-Holdings-Announces-Agreement-to-Acquire-Eliza-Corporation-Transaction-further-expands-member-health-and-care-management-analytics-footprint.html |access-date=2017-04-26 |work=GlobeNewswire News Room |language=en-US}}</ref>
⚫
In 2006, the Company announced to acquire the assets of PCG's Benefits Solutions Practice Area (BSPA) for $80 million in cash, shares of Holdings common stock and a contingent cash payment of up to $15 million.<ref>{{cite web |url=http://www.thefreelibrary.com/HMS+Holdings+Corp.+Announces+Acquisition+of+Public+Consulting+Group's...-a0147352138|title=HMS Holdings Corp. Announces Acquisition of Public Consulting Group's Benefit Solutions Practice Area.}}</ref>

In 2019, the company acquired Accent for a reported $155 million.<ref>{{Cite web |last=Pennic |first=Fred |date=2019-11-21 |title=HMS Holdings Corp to Acquire Payment Accuracy Company Accent for $155M |url=https://hitconsultant.net/2019/11/21/hms-holdings-corp-to-acquire-payment-accuracy-company-accent-for-155m/ |access-date=2024-12-09 |website=hitconsultant.net |language=en-US}}</ref>


== Awards ==
== Awards ==
In February 2014, HMS Holdings’ [[Chief Security Officer]] Scott Pettigrew won the CSO Compass Awards by CSO magazine. Pettigrew has been working in Security for about twenty years and spent the last four years at HMS. He led the company’s first risk-based security program in 2010.<ref>{{cite web |url= http://www.businesswire.com/news/home/20131030005062/en/HMS-Holdings-Chief-Security-Officer-Wins-Once-in-a-Lifetime#.UxCkQ7Ls4ns|title= HMS Holdings Chief Security Officer Wins Once-in-a-Lifetime Award}}</ref><br />In 2012 and 2013, HMS Holdings was included in the [[InformationWeek]] 500.<ref>{{cite web |url= http://old.informationweek.com/iw500/2013/viewList?sortby=Company&qNum=5|title= InformationWeek 500 2013}}</ref><br />In 2013, HMS Holdings was included on [[Modern Healthcare]] magazine's “Healthcare’s Hottest" list as one of the 40 fastest growing companies in healthcare.<ref>{{cite web |url= http://www.modernhealthcare.com/article/20130805/INFO/130739981|title= Healthcare's Hottest for 2013; 40 of the healthcare industry's fastest growing companies}}</ref>
In 2012 and 2013, HMS Holdings was included in the [[InformationWeek]] 500.<ref>{{cite web|url= http://old.informationweek.com/iw500/2013/viewList?sortby=Company&qNum=5|archive-url= https://archive.today/20140228155526/http://old.informationweek.com/iw500/2013/viewList?sortby=Company&qNum=5|url-status= dead|archive-date= 2014-02-28|title= InformationWeek 500 2013}}</ref><br />In 2013, HMS Holdings was included on [[Modern Healthcare]] magazine's "Healthcare’s Hottest" list as one of the 40 fastest growing companies in healthcare.<ref>{{cite web |url= http://www.modernhealthcare.com/article/20130805/INFO/130739981|title= Healthcare's Hottest for 2013; 40 of the healthcare industry's fastest growing companies|date= 31 July 2013}}</ref>


== References ==
== References ==
Line 34: Line 38:


== External links ==
== External links ==
* [http://www.hms.com/Official Website]
* [http://www.hms.com Official Website]


[[Category:Companies established in 1974]]
[[Category:American companies established in 1974]]
[[Category:Publicly traded companies of the United States]]
[[Category:Business services companies of the United States]]
[[Category:Companies listed on NASDAQ]]
[[Category:Business services companies established in 1974]]
[[Category:Companies formerly listed on the Nasdaq]]
[[Category:1974 establishments in Texas]]
[[Category:2021 mergers and acquisitions]]
[[Category:Companies based in Irving, Texas]]
[[Category:Private equity portfolio companies]]

Latest revision as of 19:20, 9 December 2024

HMS Holdings Corp.
Company typePrivate
IndustryBusiness services
Founded1974; 50 years ago (1974)
Headquarters
Irving, Texas
,
U.S.
Key people
William C. Lucia (FLMI)
(CEO, president, and Director)
ServicesCost-containment services
RevenueUS$ 598.3M (Feb 22, 2019)
OwnerVeritas Capital
Number of employees
2,425 (Sep 30, 2013)
Websitewww.hms.com

HMS Holdings Corp. (Healthcare Management Systems) was founded in 1974 and is based in Irving, Texas. The company was formerly listed on Nasdaq but acquired by private-equity firm Veritas Capital in 2021.[1]

History

[edit]

HMS Holdings was acquired by Gainwell Technologies in 2021 for a reported $3.4 billion.[2]

Products and services

[edit]

The company's services include providing validated insurance and helping find liable third parties. Their program integrity services identify improper payments and over-payments and attempt recovery, as well as reduce fraud and waste. In addition, the company also supports Medicaid Managed Care Organizations and Medicare Advantage Plans.[3]

Acquisitions

[edit]

In 2006, the Company announced to acquire the assets of PCG's Benefits Solutions Practice Area (BSPA) for $80 million in cash, shares of Holdings common stock, and a contingent cash payment of up to $15 million.[4]

The company acquired HealthDataInsights for approximately $400 million in November 2011.[5] In December 2012, HMS Holdings acquired the assets and liabilities of MedRecovery Management, LLC (MRM), for about $11.8 million, with $10.8 million initial cash payment and $1.0 million in future contingent payments.[6]

In April 2017, HMS Holdings acquired the Eliza Corporation, a privately held health engagement management and member analytics firm providing comprehensive and personalized member-centric outreach and engagement solutions, for a cash purchase price of $170 million.[7]

In 2019, the company acquired Accent for a reported $155 million.[8]

Awards

[edit]

In 2012 and 2013, HMS Holdings was included in the InformationWeek 500.[9]
In 2013, HMS Holdings was included on Modern Healthcare magazine's "Healthcare’s Hottest" list as one of the 40 fastest growing companies in healthcare.[10]

References

[edit]
  1. ^ "Veritas Capital-Backed Gainwell Completes Acquisition of HMS" (Press release). Veritas Capital. Business Wire. April 1, 2021.
  2. ^ Roop, Jason (2021-04-07). "Gainwell Technologies acquires health care tech company for $3.4B". Virginia Business. Retrieved 2024-12-03.
  3. ^ "Company Full Description". Reuters. Archived from the original on 2014-02-28.
  4. ^ "HMS Holdings Corp. Announces Acquisition of Public Consulting Group's Benefit Solutions Practice Area".
  5. ^ "HMS Holdings acquires HealthDataInsights for $400M". Healthcare IT News. 2011-11-07. Retrieved 2024-12-09.
  6. ^ "Form 10-Q for HMS HOLDINGS CORP".
  7. ^ Holdings, HMS. "HMS Holdings Announces Agreement to Acquire Eliza Corporation: Transaction further expands member health and care management analytics footprint". GlobeNewswire News Room. Retrieved 2017-04-26.
  8. ^ Pennic, Fred (2019-11-21). "HMS Holdings Corp to Acquire Payment Accuracy Company Accent for $155M". hitconsultant.net. Retrieved 2024-12-09.
  9. ^ "InformationWeek 500 2013". Archived from the original on 2014-02-28.
  10. ^ "Healthcare's Hottest for 2013; 40 of the healthcare industry's fastest growing companies". 31 July 2013.
[edit]
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