A subsidiary of Hewlett-Packard Co. has received a $72.3 million, five-year contract renewal for claims processing for home medical equipment and other services under the federal government’s Medicare program, the company announced Monday.
The renewal from the U.S. Centers for Medicare & Medicaid Services to HP’s NHIC Corp. is for claims processing, medical review, appeals processing and customer service for medical equipment suppliers in 11 northeastern states and the District of Columbia.
The companies provide home medical equipment and prosthetic and orthotic supplies under the Medicare health program for the elderly.
The original contract was awarded in 2006.
HP shares rose 98 cents to $24.58 in early afternoon trading Monday.