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PEER REVIEW ANALYSIS REPORTS THIRD QUARTER RESULTS

 BOSTON, Nov. 10 /PRNewswire/ -- Peer Review Analysis, Inc. (NASDAQ-NMS: PRAI), a leading provider of managed healthcare services, today announced financial results for the third quarter ended Sept. 30, 1993. Revenue decreased 3 percent to $1.80-million compared to $1.86-million for the second quarter of 1993.
 A net loss of $160,000 or 6 cents per share was reported, vs. a net loss of $538,000 or 19 cents per share in the second quarter of 1993. This reflects an improvement in operating results compared to the same quarter last year.
 According to Chief Financial Officer William E. Nixon, the loss for the third quarter was increased by $91,000 or 3 cents per share for expenses relating to the proposed merger involving Core Management. Additionally, the loss for the third quarter was reduced by $120,000 or 4 cents per share for adjustments made to reserves accrued in 1992. The adjustments made to 1992 charges were the result of reduced commitments under severance and lease agreements.
 The company's cash position was $7.9-million as of Sept. 30, 1993. The anticipated decline in cash position over the third quarter was due in part to payment of one-time charges incurred in the second quarter, proposed merger related expenses and final payments made relating to the June, 1993 corporate relocation.
 Founded in 1984, Peer Review Analysis, Inc. (PRA) is a leading national provider of physician-intensive specialty matched health care utilization management programs. The company's utilization management services are designed to focus on the quality, appropriateness and therapeutic benefit of proposed treatment plans. This approach results in significant cost savings to the company's clients without limiting access to necessary care or compromising the quality of care available to patients.
 PRA's clients include major commercial health insurance companies, third party administrators of health insurance programs, health maintenance organizations, preferred provider organizations, employers and other groups such as labor unions.
 PRA Third Quarter 1993 Earnings
 Financial Summary
 1993 1992
 Three Months Ended Three Months Ended
 Sept. 30, 1993 Sept. 30, 1992
 Revenues $1,801,932 $2,138,773
 Net loss $(160,004) $(202,967)
 Loss per common share $(0.058) $(0.076)
 Weighted average number
 of common shares and
 equivalents outstng. 2,770,000 2,670,000
 1993 1992
 Nine Months Ended Nine Months Ended
 Sept. 30, 1993 Sept. 30, 1992
 Revenues $5,819,063 $6,973,782
 Net loss $(927,031) $(267,630)
 Loss per common share $(0.335) $(0.100)
 Weighted average number
 of common shares and
 equivalents outstng. 2,770,000 2,670,000
 -0- 11/10/93
 /CONTACT: Russell Robbins, vice president of investor relations of Peer Review Analysis, 617-375-7700/
 (PRAI)


CO: Peer Review Analysis, Inc. ST: Massachusetts IN: HEA SU: ERN

DJ-JL -- NE013 -- 2946 11/10/93 17:15 EST
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Publication:PR Newswire
Date:Nov 10, 1993
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