HMS Holdings Corp. Reports Fourth Quarter and Full Year 2017 Results

HMS (Nasdaq:HMSY) today announced financial results for the fourth quarter and full year 2017. Net income for the quarter ended December 31, 2017 was $25.7 million or $0.30 per diluted share, compared to net income of $6.4 million or $0.07 per diluted share in the third quarter of 2017 and $9.2 million or $0.11 per diluted share in the prior year fourth quarter.

As quoted in the press release:

“We had a strong fourth quarter to finish out 2017 – setting quarterly records for total company, commercial, state government and coordination of benefits (COB) revenue. COB and Payment Integrity (PI) revenues rebounded strongly from the third quarter, as expected, with both up double digits sequentially. We also made incremental progress in the quarter with completed implementations of new business and significantly higher levels of medical record requests and record reviews, which we expect will translate into further PI revenue growth in the early part of 2018,” said Bill Lucia, Chairman and CEO. “The entire healthcare industry is increasingly focused on enhancing the consumer experience and improving clinical outcomes by better engaging individuals in managing their own health. As a result, our care management and consumer engagement solutions are really resonating with customers and we are increasingly encouraged about the growth profile of this new vertical.”

Click here to read the full press release.