VA Awards $23M Contract to Signature Performance for Aged Claims Processing

Contract Overview

Contract Amount: $22,999,998 ($23.0M)

Contractor: Signature Performance, Inc.

Awarding Agency: Department of Veterans Affairs

Start Date: 2017-11-09

End Date: 2019-10-07

Contract Duration: 697 days

Daily Burn Rate: $33.0K/day

Competition Type: FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES

Pricing Type: FIRM FIXED PRICE

Sector: Healthcare

Official Description: IGF::CT::IGF AGED CLAIMS PROCESSING EXERCISE OPTION YEAR 3

Place of Performance

Location: OMAHA, DOUGLAS County, NEBRASKA, 68114

State: Nebraska Government Spending

Plain-Language Summary

Department of Veterans Affairs obligated $23.0 million to SIGNATURE PERFORMANCE, INC. for work described as: IGF::CT::IGF AGED CLAIMS PROCESSING EXERCISE OPTION YEAR 3 Key points: 1. Contract value of $22.99M for Option Year 3. 2. Competition was full and open after exclusion of sources. 3. Risk is moderate due to fixed-price contract type. 4. Sector is Pharmacy Benefit Management and Third Party Administration.

Value Assessment

Rating: good

The contract is a delivery order under an existing contract, indicating a potentially established pricing structure. The firm fixed price type suggests cost control is built-in.

Cost Per Unit: N/A

Competition Analysis

Competition Level: full-and-open

The contract was awarded through full and open competition after exclusion of sources, suggesting a robust price discovery process. This method aims to ensure competitive pricing.

Taxpayer Impact: The competitive award process likely ensures taxpayer funds are used efficiently for claims processing services.

Public Impact

Ensures efficient processing of aged claims for veterans. Supports the Department of Veterans Affairs' mission to provide healthcare benefits. Impacts veterans by facilitating timely access to their earned benefits.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Positive Signals

Full and open competition utilized.
Firm fixed price contract type.

Sector Analysis

This contract falls within the Healthcare sector, specifically Pharmacy Benefit Management and Third Party Administration. Spending in this area is significant as the VA manages complex healthcare benefits for veterans.

Small Business Impact

The data does not indicate if small businesses were involved in this specific contract award. Further analysis would be needed to determine small business participation.

Oversight & Accountability

The contract is a delivery order, implying it's part of a larger framework that may have undergone prior oversight. The fixed-price nature provides some accountability for performance.

Related Government Programs

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds
Department of Veterans Affairs Contracting
Department of Veterans Affairs Programs

Risk Flags

Contract duration is substantial (697 days).
Option Year 3 indicates potential for extended service.
No specific performance metrics provided in this data snippet.

Frequently Asked Questions

What is this federal contract paying for?

Department of Veterans Affairs awarded $23.0 million to SIGNATURE PERFORMANCE, INC.. IGF::CT::IGF AGED CLAIMS PROCESSING EXERCISE OPTION YEAR 3

Who is the contractor on this award?

The obligated recipient is SIGNATURE PERFORMANCE, INC..

Which agency awarded this contract?

Awarding agency: Department of Veterans Affairs (Department of Veterans Affairs).

What is the total obligated amount?

The obligated amount is $23.0 million.

What is the period of performance?

Start: 2017-11-09. End: 2019-10-07.

What is the historical performance of Signature Performance, Inc. on similar VA contracts?

Information on Signature Performance, Inc.'s historical performance on similar VA contracts is not provided in the data. A review of past performance evaluations, contract modifications, and any past performance questionnaires would be necessary to assess their track record and reliability for this aged claims processing task.

Are there any identified risks associated with the firm fixed price contract type for this service?

While firm fixed price generally offers cost certainty, risks can arise if the scope of aged claims processing is more complex or voluminous than anticipated. The contractor might face reduced profit margins if unforeseen challenges increase their costs, potentially impacting service quality or leading to change requests.

How does the cost of this contract compare to industry benchmarks for similar claims processing services?

Direct comparison to industry benchmarks is challenging without detailed service level agreements and volume data. However, the use of full and open competition suggests the VA sought competitive pricing. A deeper analysis would require benchmarking against contracts with similar scope and service requirements.

Industry Classification

NAICS: Finance and Insurance › Agencies, Brokerages, and Other Insurance Related Activities › Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds

Product/Service Code: SOCIAL SERVICES › SOCIAL SERVICES

Competition & Pricing

Extent Competed: FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES

Solicitation Procedures: NEGOTIATED PROPOSAL/QUOTE

Pricing Type: FIRM FIXED PRICE (J)

Evaluated Preference: NONE

Contractor Details

Address: 10330 REGENCY PARKWAY DR STE 305, OMAHA, NE, 68114

Business Categories: Category Business, Corporate Entity Not Tax Exempt, Small Business, Special Designations, Subchapter S Corporation, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $120,600,000

Exercised Options: $120,600,000

Current Obligation: $22,999,998

Contract Characteristics

Commercial Item: COMMERCIAL ITEM

Cost or Pricing Data: NO

Parent Contract

Parent Award PIID: VA79114D0028

IDV Type: IDC

Timeline