This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Performant Financial Corporation And Grant Thornton LLP Sign Joint Marketing Agreement To Offer Comprehensive, Technology-Enabled Improper Payment Audit And Remediation Solutions For Federal And State Clients

Stocks in this article: PFMT

LIVERMORE, Calif., Sept. 25, 2012 (GLOBE NEWSWIRE) -- Performant Financial Corporation (Nasdaq:PFMT) and Grant Thornton LLP signed a joint go-to-market agreement to assist the rapidly increasing improper payment market in the Government sector. Under the terms of the agreement, both companies have agreed to combine their proprietary technology and audit expertise to enhance improper payment audit and enterprise integrity capabilities for federal and state clients. Today, customers are challenged to implement and monitor solutions that combine an end-to-end data environment and appropriate audit expertise which can effectively identify and verify payment accuracy for products and services rendered.

Improper payments range from erroneous or duplicative payments to fraud schemes associated with products and services performed on behalf of agencies. In FY 2011 alone, improper payments in federal programs totaled approximately $115 billion, according to Paymentaccuracy.gov.

"We are excited about this partnership and the savings that we can deliver to clients near-term, and more importantly, this agreement provides a solution that our clients have been seeking in order to improve the overall fiscal integrity of their programs. Our combined capabilities provide a powerful offering of technology and audit expertise that will significantly improve the effectiveness of improper payment analysis, audit and recovery. This partnership strategically aligns with our growth strategy to pursue new opportunities in the Government improper payment market and is truly exciting for both companies," said Lisa Im, Performant CEO.

"When I first started looking at this issue, the Federal government tallied almost $20 billion in improper payments annually,"  said Robert Shea, a Principal in Grant Thornton LLP's Global Public Sector and former head of the Federal Government's Reducing Improper Payments Initiative. "Today, the total annual amount of Federal improper payments alone is approximately $115 billion. I'm excited to be able to offer this solution to state and federal clients for their benefit and the benefit of taxpayers at the state and Federal level."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,795.66 +17.51 0.10%
S&P 500 2,067.03 +5.80 0.28%
NASDAQ 4,758.73 +10.3340 0.22%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs