PwC Receives Medicare Contract

Big Five firm PricewaterhouseCoopers (PwC), along with Electronic Data Systems Corp. (EDS) and Oracle Corp., have been awarded a contract to provide the new Medicare and Medicaid accounting system for the U.S. Department of Health and Human Services.

The estimated value of the contract is over $325 million.

PwC will integrate systems for the project, Oracle will provide the financial accounting software, and EDS will oversee the hardware and software applications.

The new system is called Healthcare Integrated General Ledger Accounting System (HIGLAS), and this system will replace the 53 different systems that are currently in use by private insurance companies that process and pay nearly 3 million Medicare claims daily.

The new accounting system is expected to be completed and fully implemented by 2006. It is expected that the new system will save the government approximately $1.2 billion over the course of the next 10 years.

You may like these other stories...

Here's a CPA who truly walks the walk. On March 15, Frank Ryan, CPA, departed San Diego, California, with plans to be in Ocean City, Maryland, by July 2 to teach a course at the Maryland Association of CPAs’ (MACPA...
When Theodore J. Flynn first joined the Massachusetts Society of CPAs (MSCPA) in 1970, it was a different world and a different profession.  The "Big Eight" were still headquartered in Boston. Vietnam War...
Accountant Rickey Charles Goodrich had it a little too good. Many bean counters would kill to serve as financial guru to the likes of Pearl Jam. Goodrich was hired in 2005, and the following year, he became the CFO of Curtis...

Already a member? log in here.

Upcoming CPE Webinars

Aug 26
This webcast will include discussions of recently issued, commonly-applicable Accounting Standards Updates for non-public, non-governmental entities.
Aug 28
Excel spreadsheets are often akin to the American Wild West, where users can input anything they want into any worksheet cell. Excel's Data Validation feature allows you to restrict user inputs to selected choices, but there are many nuances to the feature that often trip users up.
Sep 9
In this session we'll discuss the types of technologies and their uses in a small accounting firm office.
Sep 11
This webcast will include discussions of commonly-applicable Clarified Auditing Standards for audits of non-public, non-governmental entities.