Montana Renews Pharmacy Benefit Management Contract with Conduent

Rhea-AI Summary

Conduent (Nasdaq: CNDT) has announced a three-year renewal of its Pharmacy Benefit Management (PBM) contract with the Montana Department of Public Health and Human Services (MDPHHS). This renewal, which extends a 38-year relationship, aims to enhance Medicaid management in Montana. Conduent’s Medicaid Suite (CMdS) will continue to help MDPHHS reduce costs and streamline operations through advanced applications including point of sale, prior authorization, rebate management, and data analytics. Additionally, Conduent will provide services such as medical authorization, precertification, and call center support. This contract underscores Conduent's commitment to transparency and cost-effectiveness in managing pharmacy benefits in Montana.

Positive

• Three-year PBM contract renewal with MDPHHS, building on a 38-year relationship.
• Conduent's Medicaid Suite (CMdS) helps MDPHHS reduce costs and streamline operations.
• The PBM system is certified in Montana and was the first Medicaid management module to earn federal certification.

Negative

• None.

Company builds on 38-year history of providing innovative Medicaid management solutions to Montana Department of Public Health and Human Services

FLORHAM PARK, N.J.--(BUSINESS WIRE)--

Conduent Incorporated (Nasdaq: CNDT), a global technology-led business solutions and services company, today announced a three-year Pharmacy Benefit Management (PBM) contract renewal with the Montana Department of Public Health and Human Services (MDPHHS). The renewal builds on Conduent’s nearly 38-year relationship with the MDPHHS of providing advanced Medicaid management solutions to further the agency’s mission to deliver healthcare services that help improve and protect the health and safety of Montanans.

As part of the Conduent Medicaid Suite (CMdS), the pharmacy module helps MDPHHS reduce costs and streamline operations within its PBM model with advanced applications for point of sale, prior authorization, rebate, data analytics, consumer relationship management and prospective and retrospective drug review functions. Conduent will also continue to provide medical authorization, precertification, payment method development and inpatient call center services.

The company’s comprehensive PBM system was among the first to be certified in the state of Montana and the first instance of an individual Medicaid management module to earn federal certification.

“Our successful, long-term relationship with Montana reflects our commitment to providing effective solutions and on-going innovations that enable the Montana Department of Public Health and Human Services to continue to manage pharmacy benefits with transparency and cost-effectiveness,” said Lydie Quebe, General Manager, Government Healthcare Solutions at Conduent.

In addition to supporting pharmacy benefit management and claims processing, Conduent provides a range of government solutions including Medicaid enrollment and eligibility support, critical payment disbursement solutions, and child support solutions. The company supports approximately 41 million residents across various government health programs. Visit Conduent Government Healthcare Solutions to learn more.

About Conduent 
Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 59,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $100 billion in government payments annually, enabling 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 13 million tolling transactions every day. Learn more at www.conduent.com.

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Trademarks
Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240710800333/en/

Media:

Sharon Lakes, Conduent, +1-469-750-5403, Sharon.Lakes2@Conduent.com

Investor Relations:

Giles Goodburn, Conduent, +1-203-216-3546, ir@conduent.com

Source: Conduent Incorporated

FAQ

What is the significance of Conduent's contract renewal with Montana?

The three-year renewal strengthens Conduent's 38-year relationship with MDPHHS, continuing to provide cost-effective and transparent Medicaid management solutions.

How does Conduent's Medicaid Suite (CMdS) benefit MDPHHS?

CMdS helps MDPHHS reduce costs and streamline operations through advanced applications like point of sale, prior authorization, and data analytics.

What services will Conduent provide under the new contract with MDPHHS?

Conduent will offer services such as medical authorization, precertification, payment method development, and call center support.

What is the stock symbol for Conduent?

The stock symbol for Conduent is CNDT.