Performant Achieves CMMI MATURITY Level 3, Demonstrating Commitment to Excellence and Continuous Improvement
Performant Healthcare, Inc. (NASDAQ:PHLT) (the "Company" or "Performant Healthcare"), a leader in technology-enabled payment integrity, eligibility, and related analytics services, today announced that it has been successfully re-appraised at Level 3 of ISACA's Capability Maturity Model Integration (CMMI)®. This achievement highlights the Company's dedication to delivering consistent, high-quality solutions while driving operational excellence and continuous improvement.
CMMI is a globally recognized framework that provides organizations with the essential elements for effective process improvement and operational excellence. An appraisal at Level 3 signifies that the organization operates at a "defined" maturity level, with processes that are well-characterized, well-documented, and consistently applied across the entire organization. The re-appraisal focused on the Medicare Secondary Payer (MSP) Commercial Repayment Center (CRC), one of Performant Healthcare's most mature business units.
"This appraisal reflects Performant Healthcare's unwavering commitment to operational excellence and our mission to provide innovative, efficient, and reliable solutions to our clients," stated Michael Feid, SVP of Eligibility and Recovery Services at Performant Healthcare. "Achieving CMMI Level 3 is a testament to our team's culture of continuous improvement and dedication to exceeding client expectations. We will continue to leverage these best practices to enhance our programs and deliver exceptional value to our partners."
The Company's appraisal underscores its proficiency in managing complex projects, fostering customer satisfaction, and achieving organizational objectives. By adhering to industry-leading standards, Performant Healthcare has shown that it can deliver consistent quality in its processes, which strengthens its position as a trusted partner in the healthcare payment integrity space.
Rohit Ramchandani, Chief Financial Officer, added, "We are pleased that our efforts to scale and enhance efficiency are being recognized through this CMMI appraisal, not to mention continuing to demonstrate this commitment while being focused on growth. This recognition is another testament to the progress we've made via strategic investments into technology and processes, reinforcing that these investments are yielding tangible benefits. We are excited to continue advancing efficiency efforts into all areas of Performant Healthcare through our technology and process improvement approach. As we continue to prioritize efficiency and scalability, we believe we are well-positioned to move toward achieving our longer-term objectives, including the ability to achieve a 20% adjusted EBITDA margin."
The December 2024 CMMI appraisal was conducted by iPower LLC.
ABOUT PERFORMANT
Performant supports healthcare payers in identifying, preventing, and recovering waste and improper payments by leveraging advanced technology, analytics and proprietary data assets. Performant works with leading national and regional healthcare payers to provide eligibility-based, also known as coordination-of-benefits (COB) services, as well as claims-based services, which includes the audit and identification of improperly paid claims. Performant is a leading provider of these services in both government and commercial healthcare markets. Performant also provides advanced reporting capabilities, support services, customer care, and stakeholder training programs designed to mitigate future instances of improper payments.
ABOUT CMMI INSTITUTE
ISACA® (www.isaca.org) is a global community advancing individuals and organizations in their pursuit of digital trust. For more than 50 years, ISACA has equipped individuals and enterprises with the knowledge, credentials, education, training and community to progress their careers, transform their organizations, and build a more trusted and ethical digital world. ISACA is a global professional association and learning organization that leverages the expertise of its 180,000+ members who work in digital trust fields such as information security, governance, assurance, risk, privacy, and quality. It has a presence in 188 countries, including 225+ chapters worldwide. Through the ISACA Foundation, ISACA supports IT education and career pathways for undersourced and underrepresented populations.
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MEDIA CONTACT
Jon Bozzuto, Investor Relations
Performant Healthcare, Inc.
(925) 960-4988
[email protected]