ANDOVER, Mass., July 17, 2012 (GLOBE NEWSWIRE) -- Dynamics Research Corporation (Nasdaq:DRCO), a leading provider of innovative management consulting, engineering, science and technology solutions to federal and state governments, today announced that it has been awarded a new, one-year $2.5 million contract by the Commonwealth of Massachusetts' Executive Office of Health and Human Services to strengthen the Office's capabilities for detecting and preventing Medicaid fraud.
Under the terms of the contract, DRC will develop predictive models, which detect improper payments. The solution will integrate with the MassHealth claims processing system and other public and Commonwealth data, have the capability to build models which provide real-time transaction risk-scoring and referral strategy capabilities, include workflow management and workstation tools which systematically present information on claims selected by predictive modeling, and enable analysts to review, investigate and approve or deny claims in an automated manner. The system will be based on Detica's NetReveal® software.
"Fraudulent Medicaid claims add unwarranted cost to the healthcare system and can potentially expose patients to increased health risks," said Jim Regan, DRC's chairman and chief executive officer. "We are pleased to be assisting the Commonwealth of Massachusetts in preventing fraud and reducing the cost, delay and inconvenience investigations."
About Dynamics Research Corporation
Dynamics Research Corporation (DRC) provides measurable performance improvements for government customers through the delivery of innovative management consulting, engineering, science and technology solutions. DRC offers the capabilities of a large company and the responsiveness of a small company, backed by a history of excellence and customer satisfaction. Founded in 1955, DRC is a publicly held corporation (Nasdaq:DRCO) and maintains more than 25 offices nationwide with major offices in Andover, Massachusetts and the Washington, D.C. region. For more information please visit our website at www.drc.com.
Safe harbor statements under the Private Securities Litigation Reform Act of 1995: Some statements contained or implied in this news release, may be considered forward-looking statements, which by their nature are uncertain. Consequently, actual results could materially differ. For more detailed information concerning how risks and uncertainties could affect the company's financial results, please refer to DRC's most recent filings with the SEC. The company assumes no obligation to update any forward-looking information.