Perspecta Wins $89.5 Million Task Order from the Centers for Medicare & Medicaid Services for Maintenance of the Medicare Part B Claims Processing System

CHANTILLY, Va., Nov. 20, 2018 /PRNewswire/ -- Perspecta Inc. (NYSE: PRSP), a leading U.S. government services provider, announced today that it has been awarded a five-year task order on the Centers for Medicare & Medicaid (CMS) Strategic Partners Acquisition Readiness Contract (SPARC) contract vehicle to provide application services for Medicare Part B claims processing. The contract has a one year base plus four one-year renewal options and a maximum ceiling value of $89.5 million if all options are exercised.

The Medicare Part B claims processing system is utilized by Medicare Administrative Contractors (MACs) to process more than 900 million Medicare Part B claims annually. Under this task order, Perspecta will continue to provide application maintenance services; including full development life cycle support for CMS system maintenance and enhancements as well as production and user support for the processing of the expanding volume of Medicare Part B claims.     

"This win is proof of our team's dedication to the CMS mission and solid record of performance since being awarded the initial Part B Shared System Maintainer contract in 1997," said Mac Curtis, president and chief executive officer. "We are excited to continue our partnership with CMS in support of their Medicare modernization efforts."

Perspecta also provides an array of technology services for CMS that include hosting and support for four Medicare Fee-for-Service (FFS) claims processing systems, operations and maintenance of the Medicare FFS Part A claims processing system and the CMS Integrated Data Repository (IDR) 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 260+ 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.

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.

SOURCE Perspecta Inc.

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