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CGI Group to Revamp Medical Record System

Zacks Equity Research

CGI  Group, Inc. (GIB) recently announced that it has signed a contract with New York State Office of Mental Health (:OMH) to implement a new Electronic Medical Record (EMR) system for the latter. The four-year contract, worth $48.7 million, has an extension option for two additional years.

CGI Group will use the Veterans Health Information Systems and Technology Architecture (VistA) software to build the EMR system. The software provides combined inpatient and outpatient electronic health records as well as administrative tools to maintain quality medical care.

OMH is a leading healthcare delivery organization with numerous facilities across New York. The VistA system will facilitate collection of better data and boost the clinical decision support of OMH. Moreover, the system will eliminate redundant documentation and provide necessary and relevant information to improve workflow across the various locations for better synchronization between health and human services programs at the state and local levels.

CGI Group expects the particular software to give OMH the ability to adapt to federal, state and local changes, which will consequently enable it to follow new care models, establish next-generation disease classification coding systems and meet the disease prevention guidelines.

Overall, this collaboration with CGI Group will enable OMH to provide enhanced healthcare in an economic way.

CGI Group is an independent information technology and business process services firm, and has about 69,000 employees across the United States, Europe and the Asia Pacific. The company’s services include high-end business and IT consulting, systems integration, application development and maintenance, infrastructure management and a variety of proprietary solutions.

CGI Group currently carries a Zacks Rank #3 (Hold). Better-placed stocks in the industry worth considering include Carbonite, Inc. (CARB), Lionbridge Technologies Inc. (LIOX) and Computer Sciences Corp. (CSC). All of these have a Zacks Rank #2 (Buy).

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