CGI Group Inc. (NYSE: GIB) (TSX: GIB.A), a leading provider of information technology and business process services, today announced it was selected to administer Medicaid Recovery Audit Contractor (RAC) program services for the Colorado Department of Health Care Policy and Financing (HCPF). The program supports the department’s identification, correction, and prevention of improper Medicaid payments. The Colorado RAC program is a benefits-funded contract valued at approximately US$13.3 million over seven years, in which CGI will be paid from a portion of the improper payments recovered by HCPF.
CGI will utilize its Customized Audit System (CAS), an enterprise-wide solution that helps predict, identify, manage, and analyze medical and pharmacy claims. The solution includes provider outreach and education, appeals support, and a web portal to ensure program transparency to the provider community. CGI will also conduct medical necessity reviews as well as audit all Medicaid claims, managed care, Child Health Plan Plus (CHP+), and conduct credit balance reviews.
“We are proud to welcome Colorado as our fourth RAC program state, further demonstrating CGI’s leadership in healthcare claims auditing and recovery for government-sponsored programs,” said Robert Rolf, Vice-President, CGI. “We look forward to partnering with the State of Colorado to help them achieve their goals as well as comply with federal healthcare legislation.”
Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 31,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices and centers of excellence in Canada, the United States, Europe, and Asia Pacific. As at September 30, 2011, CGI's revenue was $4.3 billion and its order backlog was $13.5 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in both the Dow Jones Sustainability Index and the FTSEXGood Index. Website: www.cgi.com.
Forward- Looking Statements
All statements in this press release that do not directly and exclusively relate to historical facts constitute “forward-looking statements” within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, and are “forward-looking information” within the meaning of Canadian securities laws. These statements and this information represent CGI’s intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements or forward-looking information. These factors include but are not restricted to: the timing and size of new contracts; acquisitions and other corporate developments; the ability to attract and retain qualified members; market competition in the rapidly evolving IT industry; general economic and business conditions; foreign exchange and other risks identified in the press release, in CGI’s Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission (filed on EDGAR at www.sec.gov), the Company’s Annual Information Form filed with the Canadian securities authorities (filed on SEDAR at www.sedar.com), as well as assumptions regarding the foregoing. The words “believe,” “estimate,” “expect,” “intend,” “anticipate,” “foresee,” “plan,” and similar expressions and variations thereof, identify certain of such forward-looking statements or forward-looking information, which speak only as of the date on which they are made. In particular, statements relating to future performance are forward-looking statements and forward-looking information. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements or on this forward-looking information. You will find more information about the risks that could cause our actual results to differ significantly from our current expectations in the Risks and Uncertainties section.
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