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February 27, 2013 at 07:45 AM EST
Vermont Awards HP $48 Million Medicaid Agreement
As Vermont's Fiscal Agent, HP Helps State Prepare for Healthcare Reform

PALO ALTO, CA -- (Marketwire) -- 02/27/13 -- HP Enterprise Services today announced that the Department of Vermont Health Access has signed a $48 million contract to continue its 31-year relationship with HP (NYSE: HPQ) as the state's Medicaid fiscal agent.

The new four-year agreement includes services that assist the state in reaching its healthcare reform goals.

The agreement covers the relocation of Vermont's current Medicaid Management Information System (MMIS) to a state-of-the-art HP data center. HP also will upgrade provider call-center technology, which will improve customer service by reducing hold times and dropped calls, as well as enhance the efficiency of call routing and increase business-continuity capabilities.

A shared-solution environment allows the state to leverage HP's knowledge and investment in the healthcare market to improve flexibility and provide increased scalability and security. Vermont will expand its use of the HP Medical Assistance Provider Incentive Repository (MAPIR) tool to track "meaningful use" incentive payments to providers. In addition, HP will remediate the current system to be compliant with ICD-10 in support of HIPAA national standards.

HP and the state have integrated Vermont Medicaid with 25 other healthcare programs under a single-processing environment supported by the MMIS. This enables the state to maximize federal funding and reduce administrative overhead.

Under the agreement, HP continues to provide Vermont with claims processing, financial management, drug rebate processing, system maintenance and modification, and provider services, including enrollment, education and call center support for all 26 healthcare programs.

Last year alone, HP processed more than 9.6 million Vermont healthcare claims for approximately 166,000 recipients, distributing more than $1.1 billion in Medicaid and other payments to nearly 12,000 healthcare providers. HP call centers fielded more than 141,000 provider calls last year.

"The state of Vermont needed to be prepared for and adapt to a nationwide healthcare transformation," said Susan Arthur, vice president, U.S. Health and Life Sciences Industry, HP Enterprise Services. "The HP team helped develop a powerful and reliable Medicaid infrastructure that will enable Vermont to provide for those in need while maintaining fiscal responsibility."

HP is the nation's largest provider of Medicaid and Medicare process management services, administering $140 billion in benefits a year. It serves as the fiscal agent or principal IT provider for Medicaid in 21 states. HP's U.S. health care experience spans payer, government and life science communities.

HP's premier Americas client event, HP Discover, takes place June 11-13 in Las Vegas.

About HP
HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world's largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems. More information about HP is available at http://www.hp.com.

This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance, market share or competitive performance relating to products and services; any statements regarding anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include macroeconomic and geopolitical trends and events; the competitive pressures faced by HP's businesses; the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP and its customers, suppliers and partners; the protection of HP's intellectual property assets, including intellectual property licensed from third parties; integration and other risks associated with business combination and investment transactions; the hiring and retention of key employees; assumptions related to pension and other post-retirement costs and retirement programs; the execution, timing and results of restructuring plans, including estimates and assumptions related to the cost and the anticipated benefits of implementing those plans; the resolution of pending investigations, claims and disputes; and other risks that are described in HP's filings with the Securities and Exchange Commission, including HP's Annual Report on Form 10-K for the fiscal year ended October 31, 2012. HP assumes no obligation and does not intend to update these forward-looking statements.

© 2013 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.

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