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Home / Conduent Medical Claims Management Solutions Llc

Conduent Medical Claims Management Solutions Llc

American technology services company

Conduent Inc.
Conduent logo.svg
Type Public

Traded as

 Nasdaq: CNDT
Russell 1000 Component
Industry Business process services
Founded 3 January 2017; 4 years ago  (2017-01-03)
Headquarters

Florham Park, New Jersey

,

U.S.[1]

Number of locations

 22 countries[1] (2021)

Area served

 Worldwide

Key people
  • Clifford A. Skelton (President & CEO)
  • Adam Appleby (Global Head of Operations)
  • Steve Wood (CFO
[2]
Revenue DecreaseUS$ 4.163 Billion (2020)[3]

Number of employees

 63,000 [3] (2021)
Website conduent.com

Conduent Inc. is an American business services provider company headquartered in Florham Park, New Jersey. It was formed in 2017 as a divestiture from Xerox.[4] The company offers digital platforms for businesses and governments.[5] [6] [7] As of 2021[update], it had over 63,000 employees working across 22 countries.[3]

Conduent provides business services such as medical billing,[8] patient support services,[9] electronic toll collection,[10] Medicaid screening,[11] and prepaid card processing for government benefits such as welfare, Social Security, and food stamps.[4]

History [edit]

On 5 June 2016, Xerox announced that it would be spinning off its Xerox Business Services division into a wholly separate corporation, for which the name was yet to be determined. The business scope of the new company was generally understood to be essentially identical to that of former business services company Affiliated Computer Services (ACS), which Xerox had acquired six years earlier in 2010.[12] [13]

On 6 October 2016, having previously announced its intent to separate into two separate companies, Xerox announced the identity of the new business services company as Conduent. It described the company's "coined name" as "inspired by the company's expertise in managing transactional relationships between their clients and their constituents".[14]

On 3 January 2017, Conduent formally came into existence following its separation from Xerox.[7] At the end of the first quarter of 2017, Carl Icahn owned 9.7% of the company.[15]

In February 2019, Conduent sold some of its customer care contracts to Skyview Capital, which created a new business called Continuum Global Solutions LLC.[16]

In February 2020, Conduent announced the appointment of Clifford Skelton to become the Chief Executive Officer. Prior to the appointment, Skelton has been serving as Conduent's interim CEO for seven months. He will continue as a member of Conduent's Board of directors.[17]

In April 2021, Forbes ranked Conduent #486 in their annual list of America's Best Employers For Diversity.[18] [19]

In May 2021, Conduent settled with the United States Department of Labor to resolve allegations of discrimination in hiring during 2013–2015 under the operation of the previous company, Xerox Commercial Solutions. Conduent agreed to pay $395,000 to 1,624 Black, Asian, Native Hawaiian, and Pacific Islander job applicants.[20]

Conduent India operations [edit]

Conduent has a high number of employees in India, one of the top three largest operations Conduent has outside the US. Centers operate in NCR (Noida and Gurgaon), Bangalore, Hyderabad, Kochi and Visakhapatnam.[21] [22]

References [edit]

  1. ^ a b "Conduent 2020 Annual Report". Conduent. p. 41.
  2. ^ "Corporate Leadership". conduent.com . Retrieved 10 August 2021.
  3. ^ a b c "Investor Relations | Conduent, Inc". conduent.com . Retrieved 10 August 2021.
  4. ^ a b Vanian, Jonathan (3 January 2017). "Conduent CEO Talks Splitting From Xerox and Competing with IBM and HPE". Fortune. Archived from the original on 4 January 2017.
  5. ^ de la Merced, Michael J; Picker, Leslie (29 January 2016). "Xerox, in Deal With Carl Icahn, to Split Company in Two". The New York Times. Archived from the original on 1 February 2016. Retrieved 30 January 2016.
  6. ^ "Company Overview of Conduent Inc". Bloomberg. 8 September 2016. Archived from the original on 11 January 2017. Retrieved 29 October 2016.
  7. ^ a b Jamerson, Joshua (3 January 2017). "Xerox Stock Climbs After Splitting With Business-Services Unit". The Wall Street Journal . Retrieved 4 January 2017.
  8. ^ "Medical Billing Outsourcing Market Size, Share, Status Analysis with Forecast to 2026". SBWire. 9 August 2021.
  9. ^ Basta, Nicholas (8 March 2020). "2020 Patient Support / Hub Services Report". Pharmaceutical Commerce.
  10. ^ "Electronic Toll Collection Market Growing Massively: Expected to Reach USD 13.65 Billion by 2027". The Manomet Current. 10 August 2021.
  11. ^ Bernard, Katie (5 October 2020). "Kansas replaces troubled Medicaid contractor notorious for backlogs, lost documents". The Kansas City Star.
  12. ^ Burke, Patrick (13 July 2016). "Burke: Xerox spinoff Conduent a likely takeover target". Democrat and Chronicle . Retrieved 5 October 2020.
  13. ^ Farrell, Maureen (29 January 2016). "Xerox and ACS: A Troubled Deal from the Start". The Wall Street Journal. Archived from the original on 1 February 2016. Retrieved 5 October 2020.
  14. ^ "Xerox Unveils Conduent's New Global Brand Identity". Xerox Newsroom. 6 October 2016. Retrieved 5 October 2020.
  15. ^ Jinks, Beth (15 May 2017). "Icahn Adds New Stake in Conduent, Exits Allergan and Nuance". Bloomberg. Archived from the original on 16 May 2017. Retrieved 26 November 2017.
  16. ^ "Conduent Completes Sale of Portfolio of Select Customer Care Contracts to Skyview Capital". PR Newswire. 4 February 2019. Retrieved 6 March 2019.
  17. ^ Lindner, Linda (28 February 2020). "Conduent makes CEO Skelton official". NJBIZ . Retrieved 12 March 2020.
  18. ^ Stoller, Kristin (20 April 2021). "America's Best Employers For Diversity 2021". Forbes.
  19. ^ "Forbes Recognizes Conduent as One of America's Best Employers for Diversity". Conduent. 14 May 2021.
  20. ^ "US Department of Labor reaches agreement with Conduent Inc. to resolve alleged hiring discrimination at Oklahoma facility". United States Department of Labor. 14 May 2021. Retrieved 14 May 2021.
  21. ^ Biswas, Arunava (17 September 2020). "Conduent bets on India, APAC; India operation among company's three largest outside US, says Lokesh Prasad, CEO – APAC". Financial Express . Retrieved 21 April 2021.
  22. ^ "Conduent Announces Lokesh Prasad as CEO of India". Conduent. 15 March 2017.

External links [edit]

  • Official website

Conduent Medical Claims Management Solutions Llc

Source: https://en.wikipedia.org/wiki/Conduent