EDS Awarded $407M Medicaid Contract
Posted on: Thursday, 10 April 2003, 06:00 CDT
PLANO, Texas (AP) -- Electronic Data Systems Corp. (EDS) announced Thursday that it has been awarded a four-year, $407 million contract to continue managing California's Medicaid program.
EDS has operated Medi-Cal, the largest Medicaid program in the nation, since 1988. The most recent contract was awarded after an 18-month bidding period.
Medi-Cal pays for medical services for 6 million children and adults with limited income and resources.
About 1,100 EDS employees throughout California maintain the statewide Medi-Cal system aimed at helping speed information to providers and provide timely and accurate payments to doctors, nurse practitioners, hospitals, nursing homes and others.
EDS, which runs computer systems for other corporations and government agencies, processes more than 200 million California claims a year.
In afternoon trading on the New York Stock Exchange, EDS shares were down 82 cents, or 4.8 percent, to $16.22.
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