TechTaffy

tech:

taffy

General Dynamics secures $450M deal to modernize Medicare and Medicaid services accounting system

By TechTaffy Desk

General Dynamics Information Technology (GDIT), a subsidiary of General Dynamics, has received a $450 million contract award from the Centers for Medicare and Medicaid Services (CMS). The contract is aimed at the continued operation and modernization of CMS’s Healthcare Integrated General Ledger Accounting System (HIGLAS).

Under the terms of the contract, which includes an eight-month base period and seven option years, GDIT will work to update the HIGLAS system while also managing its daily operations. The company will use artificial intelligence and machine learning to identify potential anomalies in the accounting data. GDIT will also be responsible for hosting the primary data processing and disaster recovery systems for HIGLAS, ensuring system reliability around the clock.

HIGLAS serves as a unified accounting system that centralizes financial data for all of CMS’s programs. It processes around 4.5 million Medicare claims daily and handles over $2 trillion in annual payments, supporting more than 147 million Medicare and Medicaid beneficiaries.

[Image courtesy: GDIT]

Just in

Series A

Tembo raises $14M

Cincinnati, Ohio-based Tembo, a Postgres managed service provider, has raised $14 million in a Series A funding round.
Around the web

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 
Fundings

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.
Around the web

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 
IT

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.