Wins multi-million dollar deal with large health Insurer
HYDERABAD, India, September 2, 2010: Mahindra Satyam, the brand identity of Satyam Computer Services Ltd. (NYSE:SAY), a leading global consulting and IT services provider, today announced integrated migration solutions for healthcare payer organizations that would meet the new federal HIPAA rules.
An upgraded X12 Version 5010 transaction standard has been mandated for implementation by January 1, 2012 requiring significant application engineering to support future nationwide electronic healthcare interchange initiatives for the healthcare industry in the United States.
Commenting on this development, Vivek Ghai, Head of Healthcare and Life Sciences, Tech Mahindra said, “Tech Mahindra is well positioned to capture the opportunities coming from recent reforms in US healthcare sector. The company has made significant investments in developing specialized skills, competencies and expanding its alliances in order to effectively meet customer needs in the payer segment.”
The solutions developed by Mahindra Satyam will help customers address many challenges including implementation roadmap, 5010 test data generation with data-on-demand, ability to seamlessly integrate with all major test automation tools and trading partner readiness.
Mahindra Satyam has developed a comprehensive "Three step implementation methodology” for successful and timely HIPAA 5010 compliance enabling healthcare enterprises to cost-effectively migrate from 4010A to 5010 transaction standards. Built by Tech Mahindra’s healthcare technology experts, the “Three Step Implementation methodology” ensures an end-to-end lifecycle approach to 5010 migration and compliance deployment including comprehensive testing process.
Mahindra Satyam has already started deploying the solution through its latest win of a multi-million dollar deal with a large health Insurer for re-engineering the electronic transaction system and upgrading the applications to make it HIPAA 5010 compliant.
About Tech Mahindra
Tech Mahindra (NYSE: SAY) is a leading global business and information technology services company that leverages deep industry and functional expertise, leading technology practices, and an advanced, global delivery model to help clients transform their highest-value business processes and improve their business performance.
The company's professionals excel in enterprise solutions, supply chain management, client relationship management, business intelligence, business process quality, engineering and product lifecycle management, and infrastructure services, among other key capabilities.
Tech Mahindra is part of the $11.1 billion Mahindra Group, a global industrial federation of companies and one of the top 10 business houses based in India. The Group’s interests span automotive products, aviation, components, farm equipment, financial services, hospitality, information technology, logistics, real estate and retail.
Tech Mahindra development and delivery centers in the US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and Australia serve numerous clients, including many Fortune 500 organizations.
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This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Tech Mahindra undertakes no duty to update any forward-looking statements.