LIVERMORE, Calif., Oct. 05, 2017 (GLOBE NEWSWIRE) — Performant Banking Corporation (NASDAQ:PFMT) (“Performant” or “the Company”), a baton in the identification and accretion of abnormal payments in the Healthcare, Government and Apprentice Loan industries, today appear that it was awarded the Medicare Secondary Payer Bartering Repayment Center (CRC) arrangement by the Centers for Medicare & Medicaid Casework (“CMS”).
“Performant is aflame to be called as the absolute architect for this ample and important identification and accretion program. It aligns with our absolute affiliation with CMS as a Accretion Analysis Architect for Regions 1 and 5 as able-bodied as our connected advance in bartering healthcare, area our analysis and accretion casework are accouterment payers with allusive and different accumulation opportunities. This cogent and competitively acquired arrangement supports the Company’s cardinal focus on growing and diversifying our healthcare business, led by Simeon Kohl,” said Jeff Haughton, Performant’s Chief Operating Officer.
Under the program, Performant is amenable for anecdotic and convalescent payments in situations area Medicare should not be the primary payer of healthcare claims because a almsman has added forms of allowance coverage, such as through an employer Group Health Plan or assertive added payers. At abounding scale, Performant anticipates staffing the affairs with over 250 committed advisers operating out of Performant’s offices about the country.
“Jeff Haughton has been active in developing and active our advance strategy. This arrangement is a attestation to his adamantine work, which is active new, aerial affection business opportunities for Performant,” said Lisa Im, Performant’s Chief Executive Officer.
About Performant Banking Corporation:
Performant helps government and bartering organizations enhance acquirement and accommodate costs by preventing, anecdotic and convalescent waste, abnormal payments and defaulted assets. Performant is a arch provider of these casework in several industries, including healthcare, apprentice loans and government. Performant has been accouterment accretion analysis casework for added than nine years to both bartering and government clients, including confined as a Accretion Auditor for the Centers for Medicare and Medicaid Services.
Powered by a proprietary analytic belvedere and workflow technology, Performant additionally provides able casework accompanying to the accretion effort, including advertisement capabilities, abutment services, chump affliction and stakeholder training programs meant to abate approaching instances of abnormal payments. Founded in 1976, Performant is headquartered in Livermore, California.
Forward Looking Statements
This columnist absolution contains assertive advanced statements aural the acceptation of the Private Securities Litigation Reform Act of 1995, including statements apropos advance in our bartering healthcare business and beheading of our advance strategy. These advanced statements are based on accepted expectations, estimates, assumptions and projections that are accountable to change and absolute after-effects may alter materially from the advanced statements. Factors that could account absolute after-effects to alter materially include, but are not bound to, that the affairs with our ample audience may be afflicted or concluded unilaterally and on abbreviate notice, that our affairs with two of our better customers, Great Lakes Higher Education and the U.S. Department of Education, accept been terminated, that while our beef of Department of Education arrangement accolade accommodation was upheld, there is no affirmation that we will accept a new arrangement accolade from the Department of Education in the future, that continuing limitations on the ambit of our analysis action beneath our RAC affairs accept decidedly bargain our acquirement opportunities with this client, that the bulk of commissions we are appropriate to acknowledgment to CMS due to acknowledged appeals by providers could beat our estimated appeals reserve, that we accept cogent acknowledgment and may not be able to abstain a aperture of the covenants and added accoutrement of our acclaim acceding which would account us to be in default, that the Company faces cogent antagonism in all of its markets, that the U.S. federal government accounts for a cogent allocation of the Company’s revenues, that approaching aldermanic and authoritative changes may accept cogent furnishings on the Company’s business, that abortion of the Company’s or third parties’ operating systems and technology basement could agitate the operation of the Company’s business and the blackmail of aperture of the Company’s aegis measures or abortion or crooked admission to arcane abstracts that the Company possesses. Added advice on abeyant factors that could affect the Company’s banking action and operating after-effects is included from time to time in the “Risk Factors” and “Management’s Discussion and Analysis of Banking Action and After-effects of Operations” sections of the Company’s anniversary address on Form 10-K for the year concluded December 31, 2016, Form 10-Q for the division concluded June 30, 2017 and after filed letters on Forms 10-Q and 8-K. The advanced statements are fabricated as of the date of this columnist absolution and the Company does not undertake to amend any advanced statements to accommodate these statements to absolute after-effects or revised expectations.
Contact Information: Richard Zubek Investor Relations 925-960-4988 [email protected]
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