Chantilly, Va. — April 7, 2020— Perspecta Inc. (NYSE: PRSP), a leading U.S. government services provider, announced today that it has received a follow-on task order award to continue work on the Centers for Medicare & Medicaid Services (CMS) Virtual Data Center Prime (VDCP) contract to host and improve efficiency of Medicare Part A and Part B Common Working File (CWF) claims processing. The task order has a one-year base period plus four option years and is valued at $36.4 million. Work on this federal program will be performed in Tulsa, Oklahoma.
Under this task order, Perspecta will process Medicare eligibility claims/queries daily from three shared systems, send claims to the Fraud Prevention System for fraud pre-screening and then return CWF responses back to the shared systems with the current Medicare beneficiary eligibility information. The Perspecta Medicare CWF workload includes the processing for more than 44 million Medicare Fee-For-Service beneficiaries in the United States and its territories; representing an average processing volume of 6.5 million claims daily.
“As the hosting provider of all four claims processing environments, we appreciate our customers’ confidence in selecting us to perform this follow-on work,” said Bill Lovell, senior vice president and general manager of Perspecta’s health group. “CMS is one of Perspecta’s longest-standing customers and this award is a true testament of our unrelenting innovation and success. We look forward to continuing our partnership with CMS in support of its mission to modernize its systems and processes.”
Perspecta has supported the Medicare program since its inception in the mid-1960s. In addition to providing hosting and support for four Medicare Fee-for-Service (FFS) claims processing systems, Perspecta also provides operations and maintenance support for the Medicare FFS Part A and Part B claims processing systems that adjudicate more than 1.2 billion claims annually as well as the CMS Integrated Data Repository that is the centerpiece of CMS’ Enterprise Data Warehouse strategy.
About Perspecta Inc.
At Perspecta (NYSE: PRSP), we question, we seek and we solve. Perspecta brings a diverse set of capabilities to our U.S. government customers in defense, intelligence, civilian, health care and state and local markets. Our 270+ issued, licensed and pending patents are more than just pieces of paper, they tell the story of our innovation. With offerings in mission services, digital transformation and enterprise operations, our team of 14,000 engineers, analysts, investigators and architects work tirelessly to not only execute the mission, but build and support the backbone that enables it. Perspecta was formed to take on big challenges. We are an engine for growth and success and we enable our customers to build a better nation. For more information about Perspecta, visit perspecta.com.
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This press release may contain forward-looking statements. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Perspecta and are subject to significant risks and uncertainty. Readers are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Perspecta undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Perspecta believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve a variety of risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements.
Lorraine M. Corcoran
Vice President, Corporate Communications
Vice President, Investor Relations