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COMPANY WHO BOTCHED VA COMPUTER CONTRACT FILES
FOR BANKRUPTCY -- BearingPoint developed VA
software
that cost $350 million and didn't work.
BearingPoint promised VA "super software," and
delivered a mess. For their diligence, they were paid nearly $350
million.
BearingPoint has now filed for Chapter 11
bankruptcy. They will be reorganizing.
An interesting point here is: In July of
2008, Ronald Aument, former deputy under secretary for benefits at the VA,
played Beltway revolving-door and took a top job at BearingPoint.
The name Aument is familiar to any veteran who has had to deal with a
delayed or denied claim.
Now, we can only hope that Aument gets
"reorganized" right out the door.
For more about BearingPoint and the CoreFLS
software fiasco, click here...
http://www.yourvabenefits.org/ses
search.php?q=corefls&op=and
Story here...
http://www.modernhea
lthcare.com/article/20090218/REG/302189953
Story below:
Your comments accepted at bottom of
page.
Share story/email link.
-------------------------
BearingPoint files for Chapter 11 protection
By Joseph Conn
BearingPoint, McLean, Va., the giant management and information technology
consulting firm with a big footprint in national defense work as well as a
presence in the healthcare industry, has filed for Chapter 11 bankruptcy
protection, the company has announced.
According to a news release on its Web site, BearingPoint also announced
that it has “achieved a financial restructuring agreement with its senior
secured lenders that will significantly reduce its debt and improve its
capital structure.”
The company statement said it “plans to continue its operations in the
normal course through the financial restructuring process.” BearingPoint
has 15,000 employees with operations in 60 countries, according to the
statement. KPMG spun off its consulting unit in early 2000 as KPMG
Consulting, which was renamed BearingPoint in 2002. BearingPoint has
enjoyed a close association with the federal government in healthcare
information technology matters.
In 2007, HHS’ Office of the National Coordinator awarded BearingPoint a
contract with the Chicago-based National Alliance for
 Health Information
Technology as a subcontractor to come up with consensus definitions for IT
terms electronic health record, electronic medical record, personal health
record, health information exchange and regional health information
organization.
In 2006, HHS awarded BearingPoint a contract valued at up to $13.7 million
over four years to provide management services to the ONC, with $3.4
million for the first year and three more years possible.
BearingPoint also oversaw an IT systems development debacle at the
Veterans Affairs Department involving its failed Core Financial and
Logistics System, or CoreFLS computer system project. The VA pumped $249
million into CoreFLS before abandoning it in 2004. (CORRECTION by Larry
Scott: The dollar
amount, according to the GAO, should be $342+ million.)
-------------------------
posted by Larry Scott
Founder and Editor
VA Watchdog dot Org
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