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CMS Awards A Contract To Hewlett-Packard Company (NYSE:HPQ)
Denver, CO, 07/26/2013 (Avauncer.com) – Hewlett-Packard Company (NYSE:HPQ) is a world-wide provider of products, technologies, software, solutions and services to consumers from individuals to large scale enterprises including customers in the Government, health and education sectors.
Centers for Medicare & Medicaid Services (CMS) awarded a work offer to HP Enterprise Services the earlier day to host and enhance the efficiency of the Medicare Part A and Part B Fee For Service (FFS) claim processes across the nation.
Under the new CMS Virtual Data Center-Prime (VDCP) indefinite delivery and the indefinite quantity (IDIQ) contract the task order awarded to HP values at around $166 million.
The new contract will help HP to:
- Continuously provide its Enterprise Mainframe Applications Hosting Services to three Medicare applications which is used by CMS to process Medicare Part A and Part B claims across the nation.
- Continuously host and process the Medicare Part A and Part B claims across 21 states and the Railroad Retirement Board Medicare Part B claims for all 50 states.
- In acquisition of the hosting and processing of Medicare Part A and Part B claims in additional 10 states which will in a way increase 50 percent of HP’s existing Medicare mainframe hosting and processing workloads.
- Continuously provide its hosting and processing services to its data center situated in Tulsa, Okla.
HP is efficiently helping and supporting the goal of the agency to consolidate IT contract vehicles to reduce the costs, improve efficient interoperability among its data centers nationwide, implementing other standard procedures and processes for data center oversight, ensuring the compliance of CMS architecture standards for all data center operations.
The stock of the company has posted a hike of 0.50% in its last trading session before closing at $26.24. The stock opened the day at $26.04 and traded in the range $25.79 to $26.28. The company has a market capitalization of $50.61 billion with 1.93 billion outstanding shares.
