CGI (NYSE: GIB) (TSX: GIB.A) today announced it has extended their contract with Highmark Inc. to provide healthcare claims auditing and validation services.
Under the terms of the new agreement, CGI’s proprietary Customized Audit System (CAS) software will be used to support the identification, correction and prevention of healthcare claims overpayments and coding errors as well as to achieve a higher percentage of overpayment recoveries. The contract’s benefits-funded, contingency fee approach means Highmark will incur no up-front costs and experience significantly reduced risk through the life of the program.
“CGI’s technology will help us to better assure that claims are free of coding errors and appropriately paid,” said Highmark Vice President, Kurt Spear. “More timely, accurate notification of overpayments will also help our healthcare providers adjust their billing practices and avoid future mistakes, and the program’s emphasis on continuous process improvement will allow us to achieve even greater efficiencies over time.”
“We are gratified to continue this long-standing relationship with Highmark,” said CGI Vice President, Rob Rolf. “Our comprehensive claims auditing and compliance solutions make CGI the partner of choice for Highmark and other leading healthcare payers.”
About CGI
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. Approximately 68,000 professionals serve thousands of global clients from offices and delivery centers across the Americas, Europe and Asia Pacific, leveraging a comprehensive portfolio of services including high-end business and IT consulting, systems integration, application development and maintenance, infrastructure management as well as a wide range of proprietary solutions. With annual revenue in excess of C$10 billion and an order backlog of approximately C$20 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). 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 and quarterly Management’s Discussion and Analysis (“MD&A”), in CGI’s Annual Report, 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), and in 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.
For more information:
Investors
Lorne Gorber
Executive Vice-President, Global Communications and
Investor Relations
lorne.gorber@cgi.com
+1 514-841-3355
Media
Linda Odorisio
Vice-President, Global Communications, CGI
linda.odorisio@cgi.com
+1 703-267-8118
