Industries
PRG–Schultz works with financially accountable executives in the following industries to help them quickly recovery overpayments, improve margins, reduce costs, and accelerate cash.
Retail Today, retailers are faced with growing challenges and opportunities driven by consumer spending decreases and increased competition.
In response, retailers are refining their strategies in merchandising, store operations, back-office operations and vendor relationships.
PRG–Schultz is one of the leading global professional service firms serving retailers. Our clients include:
- 62% of the Top 50 global retailers, many of whom we have served continuously for over 20 years.
- The vast majority of dominant retailers in the U.S., UK, and Canada.
- The world’s leading grocers, drug retailers, mass merchants, department stores, and specialty retailers.
PRG–Schultz has long and trusted relationships with retail clients developing a strong industry-wide perspective and a deep knowledge of our clients’ businesses, including their:
- Strategies, approach and culture
- Purchase-to-pay business processes and practices
- Transactional systems and data
- Relationships and interdependencies between merchandising, finance/accounting, and their vendor community
- Recovery audit programs and practices
PRG–Schultz uses this knowledge to help retail clients:
- Recover overpayments due to transaction processing errors
- Buy better and make better merchandising decisions
- Develop and implement operational improvements
- Augment the skills and competencies of retail finance and accounting operations
- Improve decision making, enhance controls, and mitigate risks
Our services for retailers include:
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Healthcare
Healthcare spending in the United States is currently $2.4 trillion dollars and growing. This growth is driven by a greater demand for services from an aging population, new medical technologies and drugs. Experts estimate that healthcare spending will reach over $4 trillion dollars within a decade, representing 20% of the overall economy.
The healthcare reimbursement environment includes numerous entities, a high volume of transactions, and complex billing guidelines and payment policies and regulations. In this environment, improper payments are inevitable. The Centers for Medicare and Medicaid Services (CMS) reported in November 2007 that an estimated 3.9% of Medicare dollars, or $10.8 billion annually, were improperly paid.
PRG–Schultz protects healthcare payors from improper payments. Our audit approach is broad and deep. We evaluate clients' payments to:
- In-patient and out-patient facilities
- Physician services
- Equipment suppliers
For these payments, PRG–Schultz ensures: - Services were correctly coded
- Services were medically necessary
- Payments comply with applicable payor policies and regulations
Our clients include both government and commercial healthcare payors which represent the largest category of healthcare payors in the U.S.
PRG–Schultz is a leader in government healthcare recovery auditing. CMS selected us for their Recovery Audit Contractor (RAC) demonstration project. During the demonstration, we evaluated 200 million claims and identified and corrected $330 million in improper payments, according to a July 2008 CMS RAC Demonstration report.
PRG–Schultz has also found millions of dollars more for other healthcare payors, to whom we have provided audit services for over a decade.
For more information, see Recovery Audit for Healthcare or Contact Us »
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Manufacturing & Service Companies The world’s leading companies choose PRG–Schultz to recover cash, improve procure-to-pay processes, and enhance transaction controls. We are one of the leading global professional service firms serving manufacturing and service firms. Our clients include:
- 34% of the Fortune 50
- 22% of the Global Fortune 50
- the world's leading automotive, aerospace & defense, financial services pharmaceutical and diversified manufacturing companies
PRG–Schultz has a strong track record of delivering bottom-line results for clients though our accounts payable recovery auditing services. Additionally, we have detailed knowledge of our clients’ businesses, including their:
- Strategies, initiatives and culture
- Procure-to-pay business processes and practices
- Transactional systems and data
- Recovery audit programs and practices
We use this knowledge to help clients:
- Recover overpayments due to transaction processing errors
- Buy better
- Improve back-office efficiencies and reduce costs
- Improve decision making, enhance controls, and mitigate risks
Our services for manufacturing and services companies include:
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Government
In today's environment of high deficits and intense public scrutiny, now more than ever before government officials are counted upon to be good stewards of taxpayers' money.
One way federal and state/local governments are responding is to implement recovery audit programs. These programs help build greater trust between government institutions and their constituents. Many federal agencies and state governments have chosen PRG–Schultz as their preferred provider:
- We ensure that government clients receive the pricing and terms they negotiated with their suppliers and that the corresponding payments are accurate.
- PRG–Schultz was selected by the Centers for Medicare and Medicaid Services (CMS) for its 3-year recovery audit demonstration project. The objective of the demonstration project was to detect and correct improper payments in the Medicare fee-for-service program. According to a July 2008 CMS report, PRG–Schultz identified and corrected $330 million in improper payments.
We can also use our expertise to help government clients buy better, improve their procure-to-pay operations, or reduce “back-office” operating costs.
Representative services to government clients include:
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