Palco

What Palco does

Palco, Inc. is a privately-held Financial Management Services (FMS) company that administers Medicaid Home and Community-Based Services (HCBS) self-direction programs on behalf of state agencies and managed care organizations. Founded in 1993 and headquartered in Little Rock, Arkansas, Palco operates as a Financial Employer Agent (F/EA), handling payroll, tax withholding and filing, billing, and regulatory compliance for participants who direct their own care. The company serves individuals with physical and developmental disabilities, older adults, individuals with chronic conditions, families, caregivers, and veterans served through VA Medical Center partnerships. According to company disclosures, Palco supports over 100,000 Americans across 12+ state programs and processes more than $1B in self-direction dollars annually.

Name

Palco

Legal name

Palco, Inc.

Website

https://palcofirst.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

101–250 employees

Short description

Palco is a privately-held Financial Management Services company administering Medicaid HCBS self-direction programs across 12+ U.S. states. It processes over $1B in self-direction wages annually for participants with disabilities, older adults, and veterans, via its CMP, Intake, and Connect cloud platforms.

Ownership category

akta.pro rank

Product category

Medicaid Financial Management Services

NAICS

Professional Employer Organizations (56133), Payroll Services (541214), Services for the Elderly and Persons with Disabilities (62412), Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

SIC

Services-Health Services (8000), Services-Home Health Care Services (8082)

akta.pro primary industry

Self-Directed/Consumer-Directed Caregiver Enrollment & Payroll Support (HSABAMAI)

akta.pro secondary industry

Managed Care Entity Administration for Medicaid (MCO/PHP/PIHP/PAHP) (HLAEAEAJ)

Keywords

• Financial management services
• Medicaid HCBS programs
• Self-direction services
• Electronic visit verification
• Caregiver payroll administration

Headquarters

HQ city

Little Rock

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Financial Management Services (FMS): Palco provides FMS for Medicaid HCBS waiver programs, handling payroll, tax withholding/filing, compliance oversight, and billing administration for self-directing participants. Revenue generated through service fees paid by state Medicaid programs or MCOs per participant served.
2. Support Brokerage Services: Ongoing coaching and guidance services to help participants manage services, complete required tasks, set goals, and confidently manage their own services. Provided alongside FMS or as standalone service.
3. Wages Now (Early Wage Access): Early wage access service allowing workers to access up to 50% of wages already earned before payday through Money Network Card. No fees for workers or employers; processed through existing payroll system.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Palco provides Financial Management Services (FMS) for Medicaid Home and Community-Based Services (HCBS) self-direction programs, handling payroll, tax withholding/filing/payments, compliance oversight, and billing administration for participants who direct their own care. The offering combines managed FMS, Support Broker Navigation coaching, and integrated cloud-based technology platforms (Case Management Platform, Intake, Connect) to serve state Medicaid agencies, managed care organizations, and veterans programs across 12+ states.

Product overview

Palco is a platform-plus-modules architecture combining Financial Management Services (FMS) with integrated digital technology platforms. The core FMS product handles payroll, taxes, billing, and compliance for Medicaid HCBS self-direction programs. This is supplemented by Support Broker Navigation for coaching and PalCare as a job board marketplace. The technology suite includes three integrated platforms: CMP (Case Management Platform) for program oversight and record management, Intake for digital enrollment, and Connect for EVV/time tracking/payroll. Additional modules include Wages Now (early wage access), Palco Health Analytics (SDoH screening), and Maternal Health Services. The platforms serve participants, workers, case managers, and program administrators across 12+ state programs.

Differentiator

Problem solved

Functional benefit

Brands

• PalCare: Self-direction job board connecting participants seeking caregivers with workers looking for meaningful roles.
• Palco Health Analytics
• Wages Now
• CMP (Case Management Platform)
• Intake
• Connect
• Palco Vesta
• AuthentiCare

Products and services

• Financial Management Services (FMS) Handles payroll, tax withholding/filing/payments, compliance oversight, and financial administration for self-direction Medicaid HCBS programs. Manages hiring workers, budget tracking, and required program documentation for state Medicaid agencies, MCOs, and self-directing participants.
• Support Broker Navigation Ongoing coaching and guidance service helping participants manage services, understand program rules, complete required tasks, set goals, and confidently self-direct care. Includes budget education, recruiting and hiring assistance, and emergency backup planning, delivered alongside FMS or as a standalone service.
• PalCare Job Board Free self-direction job board connecting participants seeking caregivers with workers. Includes keyword candidate search, applicant tracking, user-friendly dashboards, and job posting tools to address caregiver recruitment challenges in HCBS programs.
• Wages Now Early Wage Access Early wage access service enabling workers to access up to 50% of wages already earned before payday via Money Network Card, with no fees for workers or employers and processed through the existing payroll system.
• Palco Health Analytics - Social Determinants of Health (SDoH) Social Determinants of Health screening and coordination integrated into FMS operations. Enables customizable multi-lingual assessments, real-time referrals, and ICD-10 Z-code reporting to drive better health outcomes for MCOs, states, and payers.
• Maternal Health Services (Palco Vesta) Maternal Support Navigation Hub providing high-touch guidance for pregnant and postpartum women with referral and screening, personalized care plans, integrated coordination, and resource navigation connecting mothers with community health workers, doulas, and lactation consultants.

Quantifiable outcome

• 99% EVV compliance rate
• +2 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered core.

• Chanda Center for HealthcoreStrategic or Co-development PartnerThe Chanda Center for Health partnered with Palco to offer a remote option for eligible CIH Waiver members who reside outside a 30-mile radius of their Lakewood, CO clinic. Palco provides enrollment, management, and payment facilitation for massage, chiropractic, and acupuncture services.
• ConduentcoreTechnology or IntegrationPalco supports Conduent and the New Mexico Human Services Department with the Mi Via program and Self-Directed Community Benefit (SDCB). Conduent provides the state's enrollment system while Palco handles FMS.
• Veterans Affairs Medical Center (New Mexico)coreStrategic or Co-development PartnerPartnership with the VA Medical Center and New Mexico Aging and Disability Resource Center for Veterans-Directed HCBS program serving veterans across New Mexico.
• Council on Aging of Southwestern OhiocoreStrategic or Co-development PartnerPartnership with the Council on Aging of Southwestern Ohio for Veterans-Directed HCBS program serving veterans in southwestern Ohio.
• Sunflower Health Plan (Centene Corporation)coreChannel Partner/ Reseller/ DistributorSunflower Health Plan, a subsidiary of Centene Corporation, partners with Palco to provide FMS services for the Kansas WORK program under their managed care arrangement.
• Horizon NJ HealthcoreChannel Partner/ Reseller/ DistributorHorizon NJ Health partnered with Palco as the new Financial Management Agency for the Personal Preference Program (PPP) in New Jersey starting August 2025.
• UnitedHealthcare MichigancoreChannel Partner/ Reseller/ DistributorUnitedHealthcare Michigan partners with Palco to serve participants in Regions 8, 10, and 12 for self-direction program services.
• Montgomery County, OhiocoreStrategic or Co-development PartnerPalco partners with Montgomery County for the ComCare program serving residents over age 60 who need limited assistance to remain independent at home.

Scale indicators7 records

Recent moves17 records

Expansion highlights6 records

Direct peers

• GT Independence: Financial Management Services provider for Medicaid self-direction programs with multi-state presence. Directly comparable in terms of F/EA services, participant onboarding, and support broker offerings.
• Public Partnerships LLC (PPL): Aetna/CVS-owned Financial Management Services provider for Medicaid HCBS self-direction programs nationwide. Direct competitor to Palco across state RFPs and MCO contracts, with materially larger scale and strategic capital backing.
• Mains'l Services: Specialized FMS provider for self-directed Medicaid programs (Aging and Disability waivers) with multi-state coverage. Closely comparable F/EA operating model and customer base to Palco.
• Careforth: Provider of self-direction and family caregiving infrastructure for Medicaid and VA programs, combining caregiver coaching with FMS-style services. Comparable to Palco's Support Broker Navigation and self-direction platform.
• Acumen Fiscal Agent: Fiscal/Employer-Agent for self-directed Medicaid programs across several states. Direct competitor on FMS for HCBS waivers, with overlapping participant and MCO customer profiles.
• Consumer Direct Care Network (CDCN): National F/EA serving self-directed Medicaid and VA HCBS programs across multiple states. Competes head-to-head with Palco on state procurements, participant enrollment, and caregiver payroll.

Broad incumbents

• HHAeXchange: Leading home care agency and EVV/payer management platform serving Medicaid managed care plans and home care providers. Adjacent competitor that pairs with or competes against Palco's Connect EVV module in MCO workflows.
• BrightSpring Health Services: Large diversified provider of home and community-based services including pharmacy, home health, and behavioral health with broad Medicaid exposure. Operates in overlapping HCBS programs where Palco provides FMS.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/palcofirst
• LinkedInlinkedin.com/company/palco-inc-
• Instagraminstagram.com/palcofirst

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Palco