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Stock Market & Financial Investment News

News Breaks
January 2, 2013
14:05 EDTPRGXPRGX Global awarded audit contract
PRGX Global announced that it has been awarded 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, or DHCF. DHCF provides a multitude of services and benefits to more than 210,000 District of Columbia citizens at an annual cost of approximately $2B 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.
News For PRGX From The Last 14 Days
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April 24, 2014
10:38 EDTPRGXRAC award may be upcoming after GAO decision, says Wells Fargo
After HMS Holdings (HMSY) disclosed that the GAO has denied its protest of the terms in the request for quotes for the recompete of the Medicare Recovery Audit Contractors, or RAC, contract, Wells Fargo said the CMS may award contract recompetes in the near term. Wells, which notes that HMSY, Performant (PFMT) and CGI Group (GIB) each hold a prime role on one of the four RAC regions, believes the incumbents are well-positioned to retain their spots, though the firm also thinks some could drop out as PRGX Global (PRGX) has. Wells has Market Perform ratings on both Performant and CGI Group.

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