|By PR Newswire||
|May 24, 2006 10:32 PM EDT||
DALLAS, May 24 /PRNewswire-FirstCall/ -- Affiliated Computer Services, Inc. , a premier provider of business process outsourcing and information technology solutions, announced today the launch of CARDS(SM), a consulting and administrative solution for employers that retained their retiree prescription drug programs under Medicare Part D. ACS is first to market with a solution of this kind.
Under Medicare Part D, employers were given the opportunity to retain their existing retiree drug programs, and to apply for the Retiree Drug Subsidy (RDS) from the Center for Medicare and Medicaid Services (CMS). Approximately 85 percent of eligible employers -- those continuing to offer the required level of prescription coverage -- elected the RDS program and will receive the CMS subsidy.
As the nation's largest government program pharmacy benefits administrator, ACS serves 30 programs in 25 states and the District of Columbia with drug expenditures totaling over $13 billion. ACS drew upon its extensive experience in healthcare program administration, consulting, and information technology (IT) to develop the CARDS system, which is an acronym for compliance, audit, reconciliation, and data storage. The system is a consulting-based solution supported by an electronic rules engine that performs claims analysis and sorting for rapid review and reconciliation.
"As a national leader in state healthcare program administration, ACS has a solid record of excellence supporting a full gamut of state and local programs, a depth of program management expertise, and world-class IT capabilities," said Lynn Blodgett, ACS Executive Vice President and Chief Operating Officer. "CARDS is a vital tool that employers can use to help ensure compliance with CMS requirements under the RDS program, and to distinguish between Medicare Part B and D claims to maximize savings. We are very excited about introducing this pioneering solution to employers across the country."
Blodgett said that ACS is also actively developing additional solutions to meet the needs of employers, retirees, and others affected by Medicare Part D. If you would like additional information on the CARDS solution, join ACS for a live web cast Thursday, May 25th at one p.m., Eastern, at http://www.videonewswire.com/event.asp?id=33884 .
ACS is an innovator in retirement benefits, health and welfare programs, human resource management, compensation, and employee communication. From care management solutions and child health programs to pharmacy benefits management, Medicaid fiscal agent services, and innovative solutions for Medicaid reform, ACS is a leader in healthcare program management and administration. ACS supports more than 20 million program recipients and processes nearly 475 million Medicaid healthcare claims annually. ACS is also a pioneer in fraud and abuse protection and other cost containment methodologies, and is known for its collaborative approach to client relationships that produce results over the long term.
ACS, a global FORTUNE 500 company with more than 55,000 people supporting client operations reaching nearly 100 countries, provides business process outsourcing and information technology solutions to world-class commercial and government clients. The Company's Class A common stock trades on the New York Stock Exchange under the symbol "ACS." ACS makes technology work. Visit ACS on the Internet at http://www.acs-inc.com/ .
The statements in this news release that do not directly relate to historical facts constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to numerous risks and uncertainties, many of which are outside the Company's control. As such, no assurance can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Factors could cause actual results to differ materially from such forward-looking statements. For a description of these factors, see the Company's prior filings with the Securities and Exchange Commission, including our most recent filing. ACS disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future event, or otherwise.ACS, Inc.
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