(By Balaseshan) PRGX Global Inc. (NASDAQ: PRGX), an analytics-powered information and professional services company, said it has received the recovery audit contract for the District of Columbia's Medicaid program.
PRGX will perform a comprehensive recovery audit of Medicaid claims on behalf of the Department of Health Care Finance (DHCF). DHCF provides a multitude of services and benefits to more than 210,000 District of Columbia citizens at an annual cost of about $2 billion per year.
PRGX will work to identify and recover payments, benefits or expenditures that have been erroneously processed. The initial term of the contract is one year, with up to four additional one-year optional contract extensions.
"PRGX healthcare professionals are committed to providing exceptional client service and satisfaction while recovering erroneous payments. We are also dedicated to providing best practice recommendations for process improvements and look forward to working with the Department of Health Care Finance," said Christine Castelli, vice president and general manager PRGX Healthcare.
Headquartered in Atlanta, Georgia, PRGX Global is a provider of recovery audit services. With over 1,600 employees, the company operates and serves clients in more than 30 countries and provides its services to over 75% of the top 30 global retailers.
It has three segments: Recovery Audit Services, Americas, which represents recovery audit services it provides in the United States, Canada and Latin America; Recovery Audit Services, Europe/Asia-Pacific, which represents recovery audit services it provides in Europe, Asia and the Pacific region, and New Services, which represents healthcare claims recovery audit services and its business analytics and advisory services.
PRGX is trading down 1.55% at $6.35 on Wednesday. The stock has been trading between $5.29 and $8.85 for the past 52 weeks.