IRVING, Texas, Dec. 23, 2019 (GLOBE NEWSWIRE) -- HMS Holdings Corp. (Nasdaq: HMSY) today announced it completed the acquisition of Accent, a payment accuracy and cost containment business. HMS purchased Accent from Intrado Corporation (f/k/a West Corporation) for approximately $155 million, subject to working capital and other customary adjustments, which HMS funded with cash on hand.
Accent’s offerings include comprehensive prospective and retrospective claims accuracy solutions, which incorporate both cost avoidance and overpayment recovery services. Its capabilities and client base are highly complementary to HMS, providing immediate market expansion and growth opportunities. Accent’s broad spectrum of healthcare payer clients include large commercial health plans, Blue Cross and Blue Shield plans, provider-sponsored health plans, Medicare Advantage plans, third-party administrators and self-insured employer groups.
“The combination of Accent with HMS will provide expanded payment accuracy capabilities across the healthcare payer landscape, and offers numerous benefits for our clients and stakeholders,” said Bill Lucia, HMS Chairman and CEO. “The addition of Accent enhances our capabilities across all of our COB and Payment Integrity solutions, expands our range of edit and audit solutions, opens up a new coordination of benefits market for HMS with commercial payers and extends our push into the Medicare COB market.
“On behalf of HMS, I’d like to welcome the Accent employees to our team. They will be a critical part of this business combination as their talent and expertise have been a significant reason why Accent established and maintains a leadership position in the markets it serves,” Lucia added.
About HMS
HMS advances the healthcare system by helping healthcare organizations reduce costs and improve health outcomes. Through our industry-leading technology, analytics and engagement solutions, we save billions of dollars annually while helping consumers lead healthier lives. HMS provides a broad range of coordination of benefits, payment integrity and population health management solutions that help move the healthcare system forward. Visit us at www.hms.com or follow us on Twitter at @HMSHealthcare.
