NEMT Broker Report Card 2026: What the Record Shows

In August 2025 the largest Medicaid NEMT broker in the country filed for Chapter 11. Modivcare emerged that December with its shareholders wiped out, roughly $1.1 billion of debt erased, and — the part that matters to you — a Form 15 filed with the SEC on the same day, deregistering its stock. Its FY2024 annual report and Q3 2025 quarterly are the last financial statements the public will ever see. If Modivcare pays you, you can no longer read your largest counterparty's balance sheet.

That is the kind of fact a broker report card should surface. It is a matter of record, filed with the SEC, and it changes how you should think about your receivables. What it is not is a customer satisfaction score.

Methodology, and why this edition looks different

The previous version of this page graded brokers on figures like "97% trip completion" and "4.6 out of 5 customer satisfaction." We went looking for the source of those numbers and there isn't one. No state report, no filing, no published study. They cannot be traced, so they are gone, and nothing has replaced them.

This edition grades only what the public record documents. Specifically:

• State primary sources — Medicaid agency procurement records, contract awards and terminations, provider bulletins, state auditor reports, legislative oversight testimony
• Federal audits — HHS Office of Inspector General reports, CMS findings, state OIG audits
• Court and regulatory filings — dockets, bid protests, consent decrees, penalties
• The companies' own filed and published documents — SEC filings, provider agreements filed with legislatures, published provider handbooks

Review sites, marketing pages and industry listicles were excluded. That matters more in this niche than you would expect: a widely syndicated NEMT insurance roundup currently circulating names three carriers that do not exist. Assume any unsourced ranking you find about this industry, including previous versions of this one, was assembled from other unsourced rankings.

The bias you need to know about before you read the grades

Public-record grading has one serious distortion, and pretending otherwise would make this page as useless as the version it replaces: brokers get penalized for operating in states that publish things.

Rhode Island fines its broker and posts the amounts. Indiana runs a public NEMT Commission with quarterly performance scorecards and corrective action plans in the minutes. Wisconsin publishes monthly performance data. Texas HHS OIG audits vendors and puts the reports online. Brokers working those states accumulate a documented record — including documented failures.

A broker whose entire book sits in states that publish nothing gets a clean-looking page here. That is an absence of evidence, not evidence of quality. Where you see "no public record," read it as "nobody is checking in public," which is arguably the worse situation for you as a provider.

So: these grades measure transparency and documented accountability, not ride quality. Do not use them to pick a broker. Use them to know what you are walking into, and then use the scorecard at the bottom to grade the broker you actually deal with.

The 2026 report card

Graded on five dimensions, each on the public record only. "No public record" is a finding, not a blank.

Modivcare

ModivCare Solutions, LLC — formerly LogistiCare Solutions — is the company most operators mean when they say "the broker." Its FY2024 10-K reports $1.96 billion in NEMT revenue, 36.8 million paid trips, 29.5 million average monthly members, and contracts in 48 states and DC. Revenue per trip was $53.19 against service expense per trip of $46.96. Roughly 81% of that revenue was capitated, meaning Modivcare carried utilization risk.

Then the balance sheet caught up with it. Chapter 11 on 20 August 2025 in the Southern District of Texas, Nasdaq trading suspended eight days later, plan effective 29 December 2025. Old equity was cancelled for no consideration. It exited with $100 million of super-senior debt plus $300 million of takeback paper due 2030, and immediately deregistered.

The Q3 2025 filing attributes a 21.3% year-over-year membership decline to "certain contract losses" it declines to name. Four are documented elsewhere: Georgia, where Verida takes all five regions effective 1 April 2026; Indiana's MDwise book, moving to WellTrans; Blue Cross Blue Shield New Mexico's Medicaid business, moving to MTM Health in November 2026; and Cigna HealthSpring's Medicare Advantage transportation, also to MTM, in March 2026. The named losses are certainly incomplete.

On the oversight side, two HHS-OIG audits found large volumes of noncompliant claims in LogistiCare programs — 2.5 million claims worth $64.7 million in New Jersey, and 105 of 200 sampled Michigan claims — though both reports fault state oversight rather than the broker. A New Jersey Assembly committee heard in February 2023 that the state had assessed $360,000 in penalties the prior year. Maine legislators asked the department to reissue its transportation contract in October 2025.

Two things deserve your attention as a provider. First, its Kansas provider manual — the only public one we could find — imposes a 90-day billing deadline with a 10% penalty, disallows anything past 180 days entirely, and reserves the right to reduce trip assignments for providers missing more than 1% of pickups. Second, Modivcare owns WellRyde and sells dispatch software to the same providers it brokers to. That is not improper, but it means your dispatch vendor and your payer can be the same company, and your operational data sits with a counterparty you negotiate rates against. Our NEMT software buyer's guide covers how to evaluate that tradeoff against independent platforms.

MTM Health

MTM, Inc. of Lake Saint Louis, Missouri rebranded to MTM Health in February 2025. It has grown almost entirely by acquisition: Veyo closed 1 August 2022, and Access2Care's NEMT business was acquired from Global Medical Response, finalized 8 October 2024, adding a stated 1,900 provider partners, 14,000 vehicles and 8.6 million trips. That integration is still running — Humana's Ohio network moved to MTM Health on 29 January 2026, and the old Access2Care app stopped working for Texas Medicaid plans in May 2026.

One correction worth making explicitly, because it circulates constantly: Verida is not Access2Care and never was. Access2Care belonged to Global Medical Response and MTM bought it. Verida is the former Southeastrans. Virginia's own broker contact list named MTM, Access2Care, Verida and ModivCare as four separate companies. Their actual relationship is competitive — Verida replaced MTM in four Arkansas regions in 2019, and takes MTM's Washington DC contract in October 2026 after MTM had held it since 2007.

MTM has the most documented regulatory record of any broker here, largely because Rhode Island publishes everything. EOHHS fined it $600,000 in January 2022 following a fatal crash, with findings including a driver operating under a false identity, a DUI with an open container, and a wheelchair passenger left unsecured. The 2023 contract added more than thirty liquidated-damages provisions, and state data showed roughly $350,000 in penalties in that contract's first six months. Idaho's Office of Performance Evaluations documented MTM claiming financial hardship within a year of taking the state's contract, after which the legislature appropriated $6.8 million and the department transferred $2.7 million more.

Against that, Wisconsin's published monthly data is the closest thing to real performance measurement in this industry, and MTM's numbers there are unremarkable in the good sense: 3.7 million trips in CY2025, complaint-free rates of 99.0–99.8%, provider turnback rates of 5.2–7.4% against a 6.8% national figure.

MTM is also the only broker whose actual provider contract is public, because Rhode Island's legislature published it. Claims older than 90 days are ineligible. Clean electronic invoices are paid within 30 days. Insurance requirements are $500,000 general liability and $500,000 combined single limit auto, with MTM as additional insured. Rates live in an unpublished Schedule A and performance standards in an unpublished Schedule B. Termination for convenience runs on 30 days' notice. Read that document before you sign anything with any broker — it is the best available template for what these agreements actually say.

Finally, a live wage case: in Harris v. Medical Transportation Management, the District of Columbia court held in April 2025 that MTM is liable as a general contractor for its subcontractors' wage violations, while rejecting joint-employer status. If you subcontract drivers, that ruling is worth reading.

Verida

Verida, Inc. is Southeastrans renamed, effective 1 September 2022 — a detail the previous version of this page missed by four years. Founder-led, Atlanta-based, private, with no identified institutional owner. The "minority-owned" descriptor that appears in trade coverage does not appear in any company or government document we could find.

Its footprint is being redrawn in both directions at once. Won: Georgia statewide from 1 April 2026, consolidating all five regions; Washington DC from 1 October 2026, a base year at $34.0 million with options reported to total roughly $137.9 million through 2031; Indiana's statewide fee-for-service book since July 2024, awarded on a score of 72 against ModivCare's 65.5 and MTM's 53.3. Lost: Louisiana's managed-care business, after a bid protest it won at trial and lost on appeal in May 2024, with its last plan ending rides 31 October 2025; Arkansas Region G in January 2026; and Virginia, where it no longer appears on the state's broker list.

Indiana is the only state producing a substantive public performance record on Verida, and it is genuinely mixed. An independent review for the state found roughly $6.2 million in authorized trips never billed over twelve months, 113,767 provider send-backs in nine months, and 10.1% of needed trips uncompleted — while also finding more than 99% of clean claims adjudicated within 30 days. Two corrective action plans opened in the first year of the current contract, including a program integrity CAP in November 2024 requiring weekly reporting; both have since closed. On the state's pay-for-outcomes measures Verida earned about 70–73% of available dollars, and earned zero in the "Transportation Requests" category in every single measured quarter, hitting 77–78% against a 90% standard. In fairness, the state itself calls that metric intentionally aggressive because it counts member cancellations and no-shows against the broker.

Note also that the 98–99% completion and satisfaction figures attached to Verida in Indiana's minutes are Verida's own presentations to the commission, not state measurements. That distinction is exactly the one the old version of this page failed to make.

For providers, Verida publishes credentialing steps — business license, liability insurance, background checks, drug screens, vehicle inspection, nine named driver trainings — but no manual, no rates, no payment timeline, no appeals process, and no insurance limits. Network entry is explicitly gated on whether Verida "has a need for new transportation providers in the region."

SafeRide Health

SafeRide is the clearest example of a distinction operators get wrong: it is not a state-appointed broker. We found no direct state Medicaid NEMT contract anywhere. Its Medicaid work is subcontracting to managed care organizations, and in the one arrangement with published economics — Superior HealthPlan in Texas — the structure was an administrative fee of $4.99 million plus separate reimbursement of $32.8 million in trip cost. That is managed services with cost pass-through, not capitation. It also sells Medicare Advantage supplemental benefits and a technology-only tier.

Why that matters: your commercial exposure to a plan subcontractor is different from your exposure to a broker holding a state contract with published performance standards and a state agency to escalate to. There may be no public procurement record, no state audit function, and no legislative oversight of your payer.

Texas HHS lists SafeRide as transportation vendor for six of sixteen Medicaid MCOs, and it has been winning: UnitedHealthcare Texas in January 2026, Community First from MTM in April 2025, Sunflower in Kansas in November 2024, plus Buckeye in Ohio and Meridian in Michigan. No contract loss was found.

The one substantial finding is a Texas HHS OIG audit from September 2025 recommending SafeRide repay $515,890.65. Among the findings: 13 of 30 tested member complaints were never investigated, and 31,149 of 379,920 trips — 8.2% — were paid to transportation providers above contracted rates through undocumented "cost overrides" totalling $507,536.73, with a single employee both submitting and approving them. SafeRide characterized the overrides as an approved fuel-inflation increase; the OIG stood by its conclusion. If you were paid above your contracted rate by SafeRide in Texas in that period, that is the mechanism.

On terms, SafeRide publishes more than most: $1 million / $2 million general liability and $500,000 auto with SafeRide as additional insured, payment within 30 days of a properly completed ride, and provider performance standards of 95% on-time, 95% acceptance and under 5% turnback. Trips are at contracted rates rather than bid. No dispute process is published.

Its four funding rounds — Series A in 2019 through Series C in 2023, with Fresenius, Sands Capital, SCAN Group and Healthworx among the investors — have never disclosed a dollar amount. Any total you see quoted is an estimate.

Alivi, American Logistics and Call the Car

These three are smaller, regionally concentrated, and materially less documented. That is itself the finding.

Alivi. The entity that actually contracts is EpicMD Technologies, LLC doing business as Alivi NEMT Network, per Florida's Agency for Health Care Administration — not "Alivi Health." Its book is almost entirely Florida managed care and heavily concentrated in Centene plans: it has held Sunshine's long-term care business since February 2021 and expanded in January 2025 to displace Modivcare on Sunshine's Medicaid, SMI and child welfare books. We could not evidence a single provider-facing term — no manual, no rates, no payment timeline, no appeals — or whether it carries capitated risk. For a Florida operator, this is the broker most likely to be new on your remittance and least possible to research.

American Logistics. Long-standing California presence, currently evidenced with Molina California; it lost the Inland Empire Health Plan account in February 2023. A commonly repeated claim that private equity bought the company in 2020 is wrong — that transaction covered ALC Schools and Red Rock Technology, not the NEMT business. Unusually, its published provider terms are the most explicit of any broker here: $500,000 combined single limit with no livery exclusion, employee drivers only rather than independent contractors, per-trip offer pricing, and no claims filing required. Even its own founding year is contested between two of its own sources.

Call the Car. The significant and almost unreported fact: Inland Empire Health Plan insourced NEMT effective 12 May 2026, leaving Call the Car with non-medical transportation only. That was its largest publicly identifiable book at roughly a million trips a year — and it is the same contract it had taken from American Logistics three years earlier. No commercial term a subcontractor could price against is public, and even its current headquarters could not be confirmed from a primary source.

None of the three has any evidenced state audit, corrective action plan or enforcement action. For companies this size that is plausible rather than suspicious — but it is also a reminder that nobody outside their client plans is examining them.

Who actually brokers Medicaid NEMT in your state

Your first practical question is not which broker is best. It is who you have to contract with to get paid where you operate. That is harder to answer than it should be, because states use five different structures — and roughly one state in ten has no broker at all.

• Statewide single broker — one broker for the whole state. Simplest to enter, and a single point of failure.
• Regional brokers — the state is carved into regions with different brokers. Expanding across a state line inside the state means a second credentialing process.
• MCO-delegated — every managed care plan picks its own vendor. This is the hardest model to operate in: five plans can mean five credentialing files, five portals, five fee schedules, and vendors that change under you with 30 days' notice.
• State-administered or fee-for-service — no broker layer; you enroll directly with Medicaid.
• County-administered — counties run their own programs.

Of 51 jurisdictions we could evidence 45 at reasonable confidence. Six could not be confirmed from primary sources, mostly because the state sites block automated access rather than because the information is secret.

Four transitions are worth calendaring if they touch you: Georgia consolidating to Verida on 1 April 2026, Colorado moving to MediDrive on 1 July 2026, DC moving to Verida on 1 October 2026, and Wisconsin's pending change from MTM to Verida. Broker transitions are when credentialing lapses, standing orders break and receivables age. Our guide to managing broker relationships covers how to prepare for one.

Grade your own broker: the operator scorecard

This is the part that actually predicts your margin, because it measures the thing no public record captures — how your broker behaves toward you specifically. Score each item 1 to 5 from your own last 90 days of records, not from memory.

Reading your score. 50–60: this broker is a genuine business partner; build capacity around it. 38–49: workable, but items scoring 1 or 2 are your negotiation agenda at renewal. 25–37: this contract is subsidising your broker — either fix the three lowest items in writing or start replacing the volume. Under 25: you are the broker's working capital. Model what your business looks like without this contract before it models it for you.

Two rules for using this. First, score items 1, 2 and 4 from your accounting system, not your impressions — operators are consistently wrong about their own payment lag. Second, rescore every quarter. The most common way a good broker relationship goes bad is gradually, through drifting volume and quiet rate changes, not through a single event.

What this actually means for your P&L

Three conclusions come out of the record rather than out of opinion.

Broker concentration is a real risk, and 2026 proved it. Modivcare lost four documented books and shed 21.3% of its membership. Verida lost a state and won two. Call the Car lost roughly a million trips a year when one plan insourced. American Logistics lost the account Call the Car then lost. In this industry the broker's contract is renegotiated over your head, and you find out from a member bulletin. If one broker is more than half your revenue, that is a single point of failure with a 30-day termination clause attached.

Rates are unpublished everywhere, deliberately. Not one broker publishes a provider fee schedule. Delaware went as far as calling its incumbent's rates confidential in a public procurement. You are therefore negotiating without comparables, which is the point. The only counters are your own cost model and other operators — our trip pricing breakdown gives you the cost-up arithmetic to know your walk-away number before the call.

The 90-day filing limit is the most expensive line in your contract. Modivcare's Kansas manual takes 10% after 90 days and pays nothing after 180. MTM's actual agreement makes claims over 90 days ineligible outright. That is not a billing detail, it is a hard revenue deadline, and it is the single most common way operators lose money they already earned. Revenue auditing discipline exists mostly to beat that clock.

Next moves

1. Score your primary broker on the twelve criteria above, using your accounting system for items 1, 2 and 4. Do it this week.
2. Find your current provider agreement and locate three things: the claims filing deadline, the termination-for-convenience notice period, and the appeals process. If you cannot find all three, request them in writing.
3. Calculate what percentage of revenue your largest broker represents. Above 50%, write down what you would do with the next 60 days if it terminated.
4. If you operate in Georgia, Colorado, DC or Wisconsin, confirm your credentialing status with the incoming broker now rather than during the transition.
5. If a broker has ever paid you above your contracted rate, reconcile it. The Texas OIG finding shows that gets recovered later, from providers.

Methodology note: every claim on this page traces to a state agency record, federal audit, court filing, SEC filing or company-published document. Where a dimension could not be evidenced it is marked as such rather than estimated. We publish no trip-completion, on-time or satisfaction figure for any broker, because no broker publishes one that is independently verifiable. Corrections and documented evidence are welcome — this page is maintained.