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xk2

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Alias Born 02/07/2007

xk2

Re: sam17 post# 71

Tuesday, 11/13/2007 7:30:29 PM

Tuesday, November 13, 2007 7:30:29 PM

Post# of 93
maybe it was a trading opportunity.

legislation has been introduced and not passed, so...nothing is final yet.





PRG-Schultz Off On Calif Audit-Program Halt Proposal
Thursday 11/08/2007 4:38 PM ET - Dow Jones News
(Updates with no comment from company in fifth paragraph.) By Aja Carmichael
Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--Shares of PRG-Shultz International Inc. (PRGX) fell more than 32% Thursday after legislation was introduced to Congress calling for a one-year halt to the Centers for Medicare and Medicaid Services' recovery audit contract program.
Rep. Lois Capps, D-Calif., on Wednesday had introduced the act, to put a one-year moratorium on the auditing program, which has allegedly hurt hospitals that care for the elderly in California. The program is carried out by PRG-Shultz in California.
The legislation comes more than a month after the Centers for Medicare and Medicare Services ordered a pause in the auditing program after the California congressional delegation raised concerns that Atlanta-based PRG-Shultz was rejecting large numbers of claims by rehabilitation hospitals, according an article in the Sacramento Bee.
The rejections allegedly cost the hospitals millions of dollars for providing services to elderly patients recovering from knee and hip replacements.
A spokesperson from PRG-Shultz declined to comment.
According to the Sacramento Bee, PRG-Schultz won a three-year contract in 2005 to review old California Medicare claims to determine whether there were overcharges. The paper said the company rejected more than 90% of the claims submitted by hospitals for rehabilitation services to knee and hip replacement patients. PRG-Schultz gets up to 30% of the claims money it recovers, the paper said in a Nov. 2 article.
"A delay in the Recovery Audit Program is necessary because it is essential that medical judgment not be superseded by the views of accountants who earn their income from contingency fees," Rep. Capps said in a press release Thursday.
Shares of PRG-Schultz closed down $5.14, or 32%, at $10.95 on volume of 3.2 million compared with average daily volume of 117,900.

-By Aja Carmichael, Dow Jones Newswires; 201-938-5218; aja.carmichael@dowjones.com






btw, this is just my opinion, or at least that's what somebody told me was my opinion.
My 2 cents, keep the change.