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FAIRFAX, VA, Oct. 14 /CNW Telbec/ - CGI Group Inc, a leading provider of
information technology and business process services (NYSE: GIB; TSX: GIB.A)
announced today that it was awarded the Recovery Audit Contractor (RAC)
Services contract for Region B (covering seven states in the Midwest) by the
Centers for Medicare & Medicaid Services (CMS). The award, which is a
contingency fee contract, has the potential for significant revenue over the
five year period, based on the results of the CMS RAC pilot program, which
reflected an increased claim volume as well as an increase in recovery per
The mission of the RAC contract is critical to identifying and correcting
improper payments and preventing future improper payments in the Medicare
program. CGI was selected as a result of a competitive procurement and found
to be the best value to the Government.
CGI's engagement will focus on the following objectives: outreach to
providers, identification of improper Medicare payments through automated and
complex reviews, recovery of overpayments, coordination with other Medicare
contractors, and clear communication of audit findings to providers.
"The RAC award is a key step in protecting the integrity of the Medicare
Trust Funds," said Rick Schmitz, Senior Vice-President, CGI. "We are committed
to supporting CMS's ongoing mission to ensure effective, up-to-date health
care coverage and to promote quality care for beneficiaries. The CMS-CGI
partnership is strong and we will continue contributing to CMS' vision to
transform and modernize America's health care system."
RAC serves a critical role in the overall strategy for protecting the
integrity of Medicare funds from improper payments. Congress authorized RAC in
the Tax Relief and Health Care Act of 2006 and mandated that the program be in
place nationwide by January 2010. Region B is one of four regional RAC
contracts to be awarded by CMS and covers Medicare Part A and B claims in
seven states in the Midwest.
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 27,000 professionals in over
100 offices across 16 countries. CGI provides end-to-end IT and business
process services to clients worldwide from offices in Canada, the United
States, Europe, Asia Pacific as well as from centers of excellence in North
America, Europe and India. CGI's annual revenue run rate stands at
$3.8 billion and at June 30th, 2008, CGI's order backlog was $12.03 billion.
CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included
in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information
Technology and MidCap Indices. Website: www.cgi.com.
For further information:
For further information: Investors: Lorne Gorber, Vice-President, Global
Communications and Investor Relations, email@example.com, (514) 841-3355;
Media: Linda Odorisio, Vice-President, US Communications,
firstname.lastname@example.org, (703) 267-8118