The Office of Finance is responsible for effective fiscal management of the agency. These offices perform financial and performance reviews related to providers and contractors, monitors the expenses paid and incurred by the managed care contractors, and maximize third party recovery efforts. Additionally, the Chief Financial Officer assists with responsibility for three offices covering the accounting functions, all financial reporting and the agency budget.
Resources
- Payment Error Rate Measurement (PERM)
- Recovery Auditor Contractors (RAC)
- Mississippi Medicaid State Level Registry for Provider Incentive Payments
- Reimbursement
Federal Medical Assistance Percentage
Each state runs their own Medicaid program within federal guidelines, jointly funded by state and federal dollars. For Medicaid, the Federal Medical Assistance Percentage (FMAP) is used to calculate the amount of federal matching funds for state medical services expenditures. The Social Security Act requires the Secretary of Health and Human Services to calculate and publish the FMAP annually.
For fiscal year 2018, the FMAP applicable to medical service claims for the Mississippi Medicaid program is 75.65 percent.
