Exhibit 99.1

HMS HOLDINGS CORP. ANNOUNCES Q4 AND FULL YEAR 2011 RESULTS

Full Year GAAP EPS Increases 27.7% after adjusting for HDI Acquisition

NEW YORK, N.Y., February 17, 2012—HMS Holdings Corp. (NASDAQ: HMSY) today announced financial results for its fourth quarter and full year ended December 31, 2011.

Revenue for the fourth quarter of 2011 increased 14.3% to $99.7 million, compared with $87.2 million for the same period a year ago.  Net income decreased 9.9% to $11.1 million or $0.13 per diluted common share for the fourth quarter of 2011, compared to net income of $12.4 million or $0.14 per diluted common share during the fourth quarter of the prior year. After adjusting for revenue and expenses related to the December 16, 2011 acquisition of HealthDataInsights (“HDI”), net income for the quarter increased 26.2% from the prior year to $15.6 million and earnings per diluted common share increased 28.6% from the prior year to $0.18 per diluted common share.

For the full year 2011, the Company reported revenue of $363.8 million, a 20.1% increase over 2010 revenue of $302.9 million. Also for the full year, the Company reported net income increased 19.2% to $47.8 million or $0.55 per diluted common share, versus net income of $40.1 million or $0.47 per diluted common share in the prior year.  After adjusting for revenue and expenses related to the acquisition of HDI, net income for 2011 increased 30.3% from the prior year to $52.2 million and earnings per diluted common share increased 27.7% from the prior year to $0.60 per diluted common share.

“We made tremendous progress in 2011 on our multi-year plan to diversify our market and product portfolio and create a platform for continued growth,” said Bill Lucia, Chief Executive Officer of HMS.  We established ourselves as the Medicaid RAC market leader, securing 17 contracts for RAC and RAC-like services. Despite slower than anticipated implementation by CMS and by the states of the Medicaid RAC program nationally, we are well positioned to meet our revenue growth targets from this sector over the long term.”

Lucia continued, “In addition, with the purchase of HDI we completed what we believe will be a transformational acquisition. HDI accelerates our entry into the commercial market and establishes a major presence in the Medicare space.”

HMS will be hosting its fourth quarter and full year 2011 conference call and webcast with the investment community on Friday, February 17, 2012 at 9:00 am Eastern Time.  Individuals can access the webcast at http://investor.hms.com/events.cfm or listen to the call at 1-877-723-9511.  International participants can listen to the call at 719-325-4767.

The webcast will be archived on the website.  Individuals can access the webcast at http://investor.hms.com/events.cfm or listen to the replay at 1-888-203-1112.  International participants can listen to the replay at 1-719-457-0820.  The passcode is 5247065. The replay will be available at 12 p.m. ET on February 17 through 11:59 p.m. ET on February 25, 2012.

The HMS Form 10-K for the year ended December 31, 2011 will be filed and available on our website at http://investor.hms.com on or about February 29, 2012 and will contain additional information about our results of operations for the fiscal year-to-date. This press release and the financial statements herein will be available at http://investor.hms.com for at least a 12-month period. Shareholders and interested investors are welcome to contact Investor Relations at 212-857-5986.

HMS Holdings Corp. (NASDAQ: HMSY) is the nation’s leader in coordination of benefits and program integrity services for payors of healthcare services.  HMS’s clients include health and human services programs in 43 states; commercial programs, including commercial plans, employers, and 137 Medicaid managed care plans; the Centers for Medicare & Medicaid Services (CMS); and Veterans Administration facilities.  As a result

of the Company’s services, clients recover over $1 billion annually, and save billions of dollars more in the prevention of erroneous payments.

###

Use of Non-GAAP Financials

This press release includes presentations of earnings before interest, taxes, depreciation and amortization (EBITDA) and adjusted EBITDA.  Adjusted EBITDA represents EBITDA adjusted for stock-based compensation expense.  EBITDA is a measure commonly used by the capital markets to value enterprises.  EBITDA is a non-GAAP financial measure and is reconciled to income before income taxes, which the Company’s management believes to be the most comparable generally accepted accounting principles (“GAAP”) measure.  Adjusted EBITDA results are calculated by adjusting GAAP income before income taxes to exclude the effects of depreciation, amortization of intangible assets, stock-based compensation expense, and net interest expense.

This press release also includes presentations of financial results excluding the financial impact of the HDI related transactions during the fourth quarter of 2011.

The press release containing the reconciliation to GAAP measures is available on the Investor Section of our website.

The Company uses this non-GAAP financial measure for internal management purposes, when publicly providing guidance on possible future results, and as a means to evaluate period-to-period comparisons.  The Company’s management believes that this non-GAAP financial measure is a common measure used by investors and analysts to evaluate its performance.  This non-GAAP financial measure is used in addition to and in conjunction with results presented in accordance with GAAP and reflect an additional way of viewing aspects of the Company’s operations that, when viewed with GAAP results and the accompanying reconciliations to corresponding GAAP financial measures, provides a more complete understanding of the results of operations and trends affecting the Company’s business.  This non-GAAP financial measure should be considered as a supplement to, and not as a substitute for, or superior to, income before income taxes in accordance with GAAP.

Safe Harbor Statement

This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995.  Such statements give our expectations or forecasts of future events; they do not relate strictly to historical or current facts.  Forward-looking statements can be identified by words such as “anticipates,” “estimates,” “expects,” “projects,” “intends,” “plans,” “believes,” “will,” “target,” “seeks,” “forecast” and similar expressions and references to guidance.  In particular, these include statements relating to future actions, business plans, objects and prospects, and future operating or financial performance.  Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions.  Should known or unknown risks or uncertainties materialize, or should underlying assumptions prove inaccurate, actual results could differ materially from past results and those anticipated, estimated or projected. We caution you therefore against relying on any of these forward-looking statements.

Factors that could cause or contribute to such differences include, but are not limited to: our ability to successfully integrate HDI’s operations; the development by competitors of new or superior services or products or the entry into the market of new competitors; all the risks inherent in the development, introduction, and implementation of new products and services; the loss of a major customer, compliance with the covenants and obligations under the terms of our new credit facility, our ability to generate sufficient cash to cover our interest and principal payments under our new credit facility, customer dissatisfaction or early termination of customer contracts triggering significant costs or liabilities; variations in our results of operations; negative results of government reviews, audits or investigations to verify our compliance with contracts and applicable laws and regulations; changing conditions in the healthcare industry which could simplify the reimbursement process and reduce the need for and price of our services; government regulatory, political and budgetary pressures that could affect the procurement practices and operations of healthcare organizations, reducing the demand for our services; our failure to comply with laws and regulations governing health data or to protect such data from theft and misuse.  A further description of risks, uncertainties, and other matters can be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2010 and our most recently filed Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2011, copies a copy of which may be obtained from the Company’s website at www.hms.com under the “Investor Relations” tab.  Any forward-looking statements made by us in this presentation speak only as of the date of this presentation.  Factors or events that could cause actual results to differ may emerge from time to time and it is not possible for us to predict all of them.  We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

HMS HOLDINGS CORP. AND SUBSIDIARIES

Consolidated Statements of Income

(In thousands, except per share amounts)

(unaudited)

HMS HOLDINGS CORP. AND SUBSIDIARIES

Consolidated Balance Sheets

(In thousands, except share and per share amounts)

(unaudited)

HMS HOLDINGS CORP. AND SUBSIDIARIES

Consolidated Statements of Cash Flows

For the Years ended December 31, 2011 and 2010

(In thousands)

(unaudited)

HMS HOLDINGS CORP. AND SUBSIDIARIES

Reconciliation of net income to EBITDA and adjusted EBITDA

(In thousands)

(unaudited)

As summarized in the following table, earnings before interest, taxes, depreciation and amortization, and share-based compensation expense (adjusted EBITDA) was $30.1 million for the fourth quarter of 2011, an increase of 10.9% over the same period a year ago.  Adjusted EBITDA for the fiscal year 2011 was $112.3 million, an increase of 24.6% over fiscal year 2010.

HMS HOLDINGS CORP. AND SUBSIDIARIES

Reconciliation of Earnings Without the HDI Transaction and Related Cost

(In thousands, except per share amounts)

(unaudited)