Performant Financial Inc. (PFMT) stock surged by 8.37% at the last trading close while the PFMT stock continued to rise by 5.58% in the pre-market trading. Through preventing, detecting, and recovering waste, irregular payments, and defaulted assets, Performant assists government and commercial healthcare payors in the revenue and lowering costs. In many markets, including Medicare, Medicaid, and commercial healthcare, Performant is a leading supplier of these programs.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Sponsored
Performant also offers professional resources related to the recovery effort, such as monitoring capabilities, support services, customer satisfaction, and stakeholder awareness programs to help prevent further incidents of improper payments.
Recent Development
The Centers for Medicare and Medicaid Services awarded Performant an 8.5-year contract to serve as the Region 1 Recovery Audit Contractor on March 26, 2021, according to PFMT. A full-and-open competitive procurement was used to grant this contingency fee contract.
The Northeast and eastern-Midwest are divided into Area 1, which consists of 11 states. Performant will conduct post-payment analyses of Part A and B Medicare fee-for-service claims as the Region 1 RAC to detect and facilitate the recoupment of wrongly paid claims. Any contract updates will be made available on PFMT’s CMS RAC Provider webpages.
Simeon Kohl, SVP and GM Healthcare stated,
This award recognizes their long-standing relationship with CMS and is the culmination of PFMT team’s hard work and dedication since the contract was awarded in 2016. In addition to Region 1, Performant is an exclusive supplier for the Medicare Secondary Payer (MSP) Commercial Repayment Center contract, as well as the nationwide Region 5 RAC for Durable Medical Equipment, Prosthetics, Orthotics and Supplies, and Home Health and Hospice claims, and the exclusive contractor for the Medicare Secondary Payer (MSP) Commercial Repayment Center contract.
