(By Balaseshan) MAXIMUS Inc. (NYSE:MMS), which provides business process outsourcing services, said it has received a $41 million contract for Minnesota's statewide health insurance exchange and Medicaid modernization.
The company has been awarded a contract by the State of Minnesota to design and develop the technical solution, including a consumer-friendly website. The contract is expected to begin in July 2012 and will run through March 2014.
After a competitive bid process, MAXIMUS was selected as the prime contractor to design and develop the Minnesota health insurance exchange, and to deliver major technology improvements to Minnesota's Medicaid systems to provide streamlined eligibility determinations, enhance customer service, allow for timely eligibility changes, and promote ongoing program integrity.
Other MAXIMUS subcontractors include International Business Machines Corp. (NYSE:IBM), utilizing the IBM Curam solution for healthcare reform, and EngagePoint (formerly known as Consumer Health Technologies).
MAXIMUS will have responsibility for managing the project, serving as the client liaison, documenting all business requirements, overseeing integration testing, developing an array of reports for the exchange, and delivering an exceptional customer service experience for users of the system.
The Minnesota health insurance exchange development will include the deployment of StateAdvantage, a complete health insurance exchange solution developed through an alliance between Connecture, Inc. and MAXIMUS.
MMS is trading up 1.41% at $51.94 on Monday. The stock has been trading between $31.23 and $53.03 for the past 52 weeks.