Business process and document management company Xerox Corp. XRX recently launched the Xerox Health Enterprise, a new federally-certified Medicaid Management Information System (MMIS) for effective management of Medicaid-related information, in New Mexico. Approved by New Hampshire, the federal certification is already under use in Alaska and is being developed for four other states in the U.S.
The platform is an important move by Xerox to provide the latest and up-to-date programs in a rapidly changing healthcare environment, which relies more and more on technology. It is compliant with Medicaid Information Technology Architecture (MITA) standards and falls into the category of IaaS (Infrastructure as a Service) businesses.
Built as a completely new platform, the Xerox Health Enterprise can be scaled to meet the requirements of different agencies and states and is capable of communicating with the existing Medicaid network in a state. The strategic move by Xerox is aimed to expand its services in regions with a large consumer base.
Headquartered in Norwalk, CT, Xerox is a leader in the development, manufacture, marketing, servicing and financing of document equipment across the world. The company has three segments Technology, Services and Others. The company is looking forward to expand its offerings through organic growth and acquisitions, which will help it to add more clients to its portfolio.
Xerox currently has a Zacks Rank #4 (Sell). Other stocks that look promising and are worth a look now include comScore, Inc. SCOR, PFSweb Inc PFSW and Rentrak Corporation RENT, each having a Zacks Rank #1 (Strong Buy).
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