Financial management services company expands to 11 states,
will serve West Virginia’s Department of Human Services, Personal Options Program.
Palco, a financial management services company focused on empowering independence for long-term care Medicaid service recipients receiving support services at home or in community-based settings is expanding its service area to an 11th state: West Virginia. The company was selected by the state to provide financial management services (FMS), fiscal employer/agent services, and resource consulting services. The West Virginia program provides these supports to over 4,900 individuals who choose to self-direct their care through the Department of Human Services. Palco will be the only FMS serving the Personal Options program across all three (3) waivers effective April 1st, 2024.
Palco’s Chief Executive Officer Alicia Paladino said the company is delighted for the opportunity to begin work in West Virginia and to continue to grow the company and those it serves.
“Palco is excited to work with the state of West Virginia to expand its national footprint in the self-direction industry. Being selected as the only FMS vendor in West Virginia allows us to continue our mission of empowering independence for as many individuals as possible across the United States. We are eager to work with the state to help those individuals in need,” she said.
Palco was selected by the state of West Virginia following a thorough, competitive review of FMS companies specializing in self-direction. Palco emerged as the organization best equipped to meet the needs of the state’s programs, a determination supported by a track record of serving tens of thousands of individuals across the U.S.
“West Virginia’s self-directed service model has been highly successful and cost effective for members that receive Home and Community-Based Services.” said Cindy Beane, DoHS, Bureau for Medical Services Commissioner. “We look forward to working with Palco to continue to grow and improve self-directed services for Medicaid beneficiaries.”
The company’s President and Chief Operating Officer Mark Biviano voiced his pleasure with the decision, stating that the individuals will benefit from Palco’s experience and efficiency in providing all aspects of service in self-direction.
“The individuals we serve in this program deserve to have a financial management services provider that makes the process as simple as possible. When someone has to jump through hoops or wait for hours on the phone just to get enrolled in the program, it leads to lower participation in these valuable programs, consequently fewer people around the country receiving the care they need. With Palco, these pain points are eliminated, and participants can quickly get the assistance they require.”
Palco is working with the state to launch an accessible informational campaign—online, by mail, and in person—for those involved with the Personal Options program next month. The campaign will introduce participants/employers and their workers and vendors to Palco and prepare them for the upcoming transition as well as inform them about the new tools and features Palco brings. Palco’s website and secure, cloud-based platform will provide self-directing stakeholders with access to timesheets, budgets, real-time reports and resources.
From now through the transition, people who self-direct their care will continue using their current FMS. The transition to Palco should not impact a person’s plan of care, case manager, budget, caregivers rate of pay, or services. Palco is seasoned in transitions of this nature and will communicate regularly to ensure a seamless move. More information about the transition to Palco will be published as it is available here: www.palcofirst.com/west-virginia
Palco was the first FMS provider in the country, over 25 years ago, laying the groundwork for self-direction as we know it today. Palco’s mission of empowering independence is sharpened by experience and amplified by modern technology, advocating for people to live independent lives. Palco has partnerships in 12 states and manages 500 million in annual wages and reimbursement. Unlike its competitors, Palco is a privately owned financial management services provider made up of certified public accountants and health and human services professionals who deliver specialized fiscal intermediary services to support individuals with disabilities and long-term care needs. Palco has expanded from its home state of Arkansas to serve nearly 30,000 individuals across 10 states. For more information about Palco, please visit www.palcofirst.com