About Maximus

Maximus, Inc. operates as a provider of government services worldwide. Most notably, the company's acquisitions of VES Group, Inc. (VES), a leading provider of medical disability examinations (MDE) to the United States (U.S.) Department of Veterans Affairs (VA); the Federal business of Attain, LLC (Attain), a provider of technology consulting and systems integration services; and a service contract with the U.S. Department of Education, rebranded as Aidvantage, have supplemented its organic growth and allowed expansion into new markets. Segments The company operates through three segments: U.S. Federal Services, U.S. Services, and Outside the U.S. The company operates in the United States and worldwide. U.S. Federal Services segment This segment delivers end-to-end solutions that help various the U.S. federal government agencies better deliver on their mission, including program operations and management, clinical services, and technology solutions. This segment also includes appeals and assessments services, system and application development, Information Technology (IT) modernization, and maintenance services. Under Technology Consulting Services (TCS), the segment executes on its digital strategy to deliver technology solutions that advance agency missions, including the challenge to modernize, provide better customer experience, and drive process efficiencies. The segment continues to expand its clinical solutions through VES Group, Inc. (VES), which manages the clinical evaluation process for the U.S. veterans and service members on behalf of the VA. Program Operations: Program Operations include business process services (BPS), eligibility and enrollment, outreach, and other services for federal health and human services programs. In the year ended September 30, 2022, the company's contract with the Centers for Medicare and Medicaid to support the Contact Center Operations (CCO) was renewed. This contract supports the federal marketplace under the Affordable Care Act (ACA) and serves as the primary support engagement center for Medicare, also known as 1-800-MEDICARE. The contract serves the U.S. population through eleven customer contact centers handling general inquiries for the marketplace and general and claims-based Medicare inquiries. In October 2021, the company acquired the Navient student loan contract, rebranded as Aidvantage. The company is an independent and conflict-free provider, as it will not provide loan origination, consolidation, or collection services. It views student loan servicing as an opportunity to apply its insights, expertise, and quality-driven approach through support for Federal Student Aid (FSA), and student borrowers. The company's focus is solely on supporting the student borrowers on behalf of FSA. Aidvantage is an extension of long-standing work supporting student loan management and is in line with its core business. The manner in which the company provides these services varies from contract to contract but may include a mix of contact centers, mail-room operations, and mobile and website media. Clinical Services: In line with its strategic focus for the future, the segment continues to expand its clinical solutions, most notably through VES, which manages the clinical evaluation process for U.S. veterans and service members on behalf of the United States (U.S.) Department of Veterans Affairs (VA). A leading provider of Medical Disability Examinations (MDEs), VES brings a deep and long-standing relationship with the VA, as well as a team of experienced clinicians focused on serving veterans. While the company's independent clinical assessments business has been growing at the state level, VES expertise provides a platform of scale for the first time at the U.S. federal government level. The company expects to realize and deliver on higher volumes related to the Promise to Address Comprehensive Toxics Act of 2022 (PACT) Act that began in the year ended September 30, 2023, and should continue into fiscal 2024. The independent health and disability assessments and appeals portion of the company's business is a growing part of its overall portfolio, lending further credibility to its organic growth efforts with other Federal departments and in non-Federal markets. Technology Solutions: Also aligned with the company's strategic focus, and benefiting from the Attain platform, the Technology and Consulting Services (TCS) division executes on its digital strategy to deliver technology solutions that advance agency missions, including the challenge to modernize, provide customer experience, and drive process efficiencies. TCS's core capabilities build further upon the company's cloud-based solutions and include: Application Development & Modernization: Modernize, develop, and deliver solutions utilizing automation, agile and development, security, and operations (DevSecOps) practices. Enterprise Business Solutions: Integrate and manage disparate business processes and systems. Advanced Analytics & Emerging Technologies: Provide technology services to leverage and integrate the latest technologies for artificial intelligence (AI) and machine learning (ML), automation, and high-performance computing. Cybersecurity: Deliver full spectrum cybersecurity services, including cyber engineering and operations, digital forensics, and incident response. Infrastructure and Engineering: Deploy solutions that leverage cloud-hosted and on-premise designs to optimize costs. The company's primary competitors in the U.S. Federal Services segment are Serco, General Dynamics Information Technology, Amentum, Cognosante, and Conduent (Conduent, Inc.). Within the technology sector, its primary competitors are IBM, Oracle, Leidos (Leidos, Inc.), Accenture, Deloitte, Booz Allen Hamilton (Booz Allen Hamilton Holding Corp.), and other federal contractors. U.S. Services segment This segment provides a variety of business process services (BPS), such as program administration, appeals and assessments, and related consulting work for the U.S. state and local government programs. These services support a variety of programs, including ACA, Medicaid, the Children's Health Insurance Program (CHIP), Temporary Assistance to Needy Families (TANF), and child support programs. Program Operations: Program operations includes the company's comprehensive program administration services for government health benefit programs. The services that the company provides vary from program to program but may include: Program eligibility support and enrollment services to help beneficiaries make the best choice for their health insurance coverage to improve their access to healthcare; Centralized multilingual customer contact centers and multichannel, digital self-service options for simplified enrollment to better serve citizens' needs; Application assistance and independent health plan choice counseling to beneficiaries; and Beneficiary outreach, education, eligibility assistance, enrollment, and redeterminations services. The company also provides some specialized services, including substance abuse, diversion program support and administration of subsidized telephony services. During the coronavirus (COVID-19) pandemic, it provided support in contact tracing. As a leading supplier in many of the health program administration markets that it serves, the company is the largest provider of Medicaid eligibility support and enrollment services and state-based health insurance exchange operations. Clinical Services: Clinical services include the company's independent appeals and person-centered assessments services, primarily under Medicaid Long-Term Care. The growth of its clinical services demonstrates successful execution of its continued strategy and focus on clinical services. These services help governments engage with program recipients while at the same time helping them improve the efficiency, quality, and accountability of their health and disability benefits programs. These include person-centered independent disability, long-term sick, and other health assessments, including those related to long-term services and supports such as Preadmission Screening and Resident Reviews (PASRR) and Independent Developmental Disability (IDD) assessments. The company is a leading provider of such services in the U.S. In addition, it provides connected wellness services which promote healthy living habits among participants. Employment Services: Employment services cover a number of attributes, including eligibility support, case management, job-readiness preparation, job search and employer outreach, job retention and career advancement, and selected educational and training services, including vocational training. The company supports unemployment insurance programs, a market which largely began in response to the COVID-19 pandemic. Technology Solutions: Technology solutions offer assistance with system planning, implementation oversight and the construction and maintenance of client systems to allow processing of transactions. The company also provides system implementation project management services to state and local clients. Consistent with its overall corporate strategy, technology solutions in its U.S. Services segment is an area of focus for growth. The rest of the segment's revenue is from specialized consulting services. These services include business process assessment and design, quality assurance processes, including independent verification and validation services, as well as policy and procedure reviews, and audit preparation and compliance, including grant and proposal reviews. The segment also includes a tax credit service, which assists commercial customers in claiming workforce and location-based tax benefits. The company's primary competitors are government in-sourced operations. External competitors include Conduent, Automated Health Systems, Faneuil, KePro, MTX Group, and Deloitte. In some services, the company competes against specialized private companies and nonprofit organizations, such as The Salvation Army and Goodwill Industries. The company is one of the largest providers of Medicaid and CHIP administrative programs and operate many of the state-based health insurance exchanges. Outside the U.S. segment The company's Outside the U.S. Segment provides BPS for international governments and commercial clients, transforming the lives of people around the world. Helping people find employment, access vital support, and remain healthy, these services include health and disability assessments, program administration for employment services, wellbeing solutions, and other job seeker-related services. It supports programs and delivers services in the United Kingdom (U.K.), including the Health Assessment Advisory Service (HAAS), Functional Assessment Services (FAS), and Restart; and Australia, including Workforce Australia, and employment support and job seeker services. The company is reshaping this segment in a thoughtful manner to align with the broader its strategy of pursuing digitally-enabled customer services, clinical capabilities to meet rising demand for health services, and advanced technologies for modernization which is in-demand by government customers worldwide. During the year ended September 30, 2023, it divested a small commercial practice in the U.K. and its business in Sweden. The company divested its businesses in Italy and Singapore, as well as its Canadian employment services business. Employment Services: Comprehensive employment services help vulnerable individuals transition from government assistance programs to sustainable employment and economic independence. These services cover a number of attributes, including eligibility determination, case management, job-readiness preparation and work capability assessments, job search and employer outreach, job retention and career advancement, and selected educational and training services. Payment terms are typically focused on achieving employment outcomes. Clinical Services: Clinical services includes appeals and assessments work. On these contracts, the company is typically reimbursed for each transaction. The Health Assessment Advisory Service (HAAS) contract is a hybrid contract with cost-plus elements coupled with a number of incentives and penalties to achieve the programmatic outcomes defined by the government in order to ensure quality and timeliness of service. The company carries out these assessments on behalf of the Department for Work and Pensions (DWP), and the DWP makes the final decision on the level of benefit. The company's primary competitors in this segment include Atos, Capita, Optum, Serco, Staffline, Shaw Trust, Ingeus, Sarina Russo, Advanced Personnel Management, IBM, Telus-Health, NTT Data, Pacific Blue Cross, Sawaeed, Takamol, and other specialized private companies and nonprofit organizations. Strategy The key elements of the company's strategy are to elevate the customer experience to achieve higher levels of satisfaction, performance, and outcomes through intelligent automation and cognitive computing; help governments reach the rising demand for health services by growing its clinical capabilities to improve the health of people and their communities; and enable the transformation of government programs to be resilient, dynamic, integrated, and equitable. Government Regulations Within the U.S. Federal Services segment, the company must comply with the Federal Acquisition Regulations (FAR), which regulates the procurement, award, administration, and performance of the U.S. government contracts. History Maximus, Inc., a Virginia Corporation, was founded in 1975. The company was incorporated in 1975.