Leading information technology and business process services firm, CGI Group Inc. (GIB - Free Report) , recently announced that it has received a five-year contract from Kentucky Health Cooperative (KYHC) and Louisiana Health Cooperative (LAHC) to provide healthcare payer services. KHYC and LAHC are among the 24 Consumer Operated and Oriented Plans (CO-OPs) formed through the Affordable Care Act (ACA) to provide competitive health plans.
CGI Group will provide both the companies a comprehensive business process services platform, wherein both the companies can avail facilities like enrollment billing, claims processing and printing and fulfillment from its Center of Excellence in Bedford, TX.
Both KYHC and LAHC believe that CGI Group can provide them with customized solutions according to their business requirements to help them provide quality health coverage to their customers. CGI Group’s earlier association with state health insurance exchanges and the U.S. Federally-Facilitated Marketplace was also one of the reasons for selecting it ahead of its peers.
CGI Group also believes that it has the competency and business knowledge to provide new strategies so that health payers can successfully compete in the consumer-dominated health insurance market.
CGI Group employs around 69,000 professionals and provides services in countries like Canada, the United Stares, Europe and Asia Pacific.
U.S. based LAHC and KYHC are backed by an association of providers and business leaders who plan to improve the health outcomes by offering quality healthcare services at affordable rates. Both LAHC and KYHC will be providing health care plans from Jan 1, 2014.
CGI Group currently carries a Zacks Rank #2 (Buy). Some other stocks within the industry worth mentioning are Innodata Inc. carrying a Zacks Rank #1 (Strong Buy), PDF Solutions Inc. (PDFS - Free Report) and Forrester Research Inc. (FORR - Free Report) , both carrying a Zacks Rank #2 (Buy).