First Quarter Earnings Release Date and Teleconference
The Company also announced that it will release its first quarter 2013 earnings after the market closes on May 9, 2013. The Company will hold a conference call to discuss results at 5:00 pm (Eastern Time) that day. The conference call can be accessed by dialing 1-877-941-2068 (domestic) or 1-480-629-9712 (international). A telephonic replay will be available approximately one hour after the call and can be accessed by dialing 1-877-870-5176, or for international callers, 1-858-384-5517. The passcode for both the live call and the replay is 4613880. The telephonic replay will be available until 11:59 pm (Eastern Time) on May 16, 2013, and an audio webcast will be available for up to one year on the Company's investor relations website.
Interested investors and other parties may also listen to a simultaneous webcast of the live conference call by logging onto the Investor Relations section of the Company's website at investors.performantcorp.com. The on-line replay will be available on the website immediately following the call.
Terms used in this Press ReleaseStudent Loan Placement Volume refers to the dollar volume of defaulted student loans first placed with us during the specified period by public and private clients for recovery. Placement Volume allows us to measure and track trends in the amount of inventory our clients in the student lending market are placing with us during any period. The revenue associated with the recovery of a portion of these loans may be recognized in subsequent accounting periods, which assists management in estimating future revenues and in allocating resources necessary to address current Placement Volumes. Net Claim Recovery Volume refers to the dollar volume of improper Medicare claims that we have recovered for CMS during the applicable period net of any amount that we have reserved to cover appeals by healthcare providers. We are paid recovery fees as a percentage of this recovered claim volume. We calculate this metric by dividing our claim recovery revenue by our Claim Recovery Fee Rate. This metric shows trends in the volume of improper payments within our region and allows management to measure our success in finding these improper payments, over time.