Fairbanks

What Fairbanks does

Fairbanks LLC is a privately held government consulting firm founded in 2004 in Illinois by former principals and staff from Deloitte Consulting LLP. The firm specializes in Medicaid claiming and reimbursement for school-based health services, serving state Medicaid agencies and local education agencies across 15+ states representing more than 8,000 school districts and 10 million students. The firm's core service portfolio spans Random Moment Time Study (RMTS) administration, Medicaid Administrative Claiming (MAC), Direct Services Cost Reporting, Cost Settlement, and Audit Support and Program Evaluation.

The company's technology backbone is the proprietary, web-based "Fairbanks System" platform, which automates time studies with customizable questions, drop-downs, date/time stamping, real-time compliance monitoring, and built-in email reminders. The platform includes the first fully-integrated, statewide Cost Report/Cost Settlement toolset for school-based Medicaid programs in the country, a centralized Dashboard for on-demand analytics, and a proprietary MAC Simulator that models the impact of RMTS precision reductions and related CMS policy changes on quarterly local education agency reimbursements.

Fairbanks generates revenue through multi-year contracts awarded via competitive bidding with state Medicaid agencies (e.g., New York DOH, Texas HHSC, Kentucky CHFS, Missouri MO HealthNet, New Mexico HCA, New Hampshire DHHS, Nebraska DHHS) and local government entities (e.g., Los Angeles County Office of Education). Pricing is contractually negotiated rather than published, and the proprietary technology platform is bundled into consulting engagements rather than licensed separately. The firm markets through thought leadership at the NAME (National Alliance for Medicaid in Education) conference, co-presented policy webinars with state clients, and direct engagement with state procurement processes. The leadership team consists of former Deloitte practitioners, including a former CMS Senior Policy Advisor, with combined public sector experience exceeding 90 years.

Name

Fairbanks

Legal name

Fairbanks LLC

Website

https://fairbanksllc.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Fairbanks LLC is a private government consulting firm that partners with state Medicaid agencies and local school districts to administer school-based Medicaid claiming programs, including RMTS, cost reporting, and audit support, through its proprietary Fairbanks System platform across 15+ states.

Ownership category

akta.pro rank

Product category

Government Healthcare Consulting (Medicaid Claiming Services)

NAICS

Health and Welfare Funds (525120), Management Consulting Services (54161)

SIC

Hospital & Medical Service Plans (6324), Services-Management Consulting Services (8742)

akta.pro primary industry

Government Program Administrative Services (Medicare/Medicaid ASO/TPA) (HLAEALAO)

akta.pro secondary industries

Healthcare-Linked Social Benefits Administration (e.g., Medicaid/Means-Tested Health Coverage) (BPAIAKAH), Local Public Health & Human Services Administration (BPAIACAK)

Keywords

• Medicaid claiming services
• Random Moment Time Study
• School-based Medicaid reimbursement
• Government healthcare consulting
• Cost reporting and settlement

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Government Consulting and Contract Services: Fairbanks generates revenue through competitively bid multi-year contracts with state Medicaid agencies and local government agencies. Contracts cover services including RMTS administration, Medicaid Administrative Claiming, Direct Services Cost Reporting, and Audit Support. Revenue is generated through professional services engagements, typically structured as multi-year contracts with multiple renewal options.
2. Technology Platform Licensing: The company provides access to its proprietary web-based technology platform (Fairbanks System) as part of its service offerings. Clients access the platform for time studies, cost reporting, claim management, and audit support. Revenue is bundled with consulting services rather than sold separately.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Fairbanks LLC partners with state Medicaid agencies and local education agencies to design, implement, and manage Medicaid claiming programs, delivering services such as Random Moment Time Study (RMTS) administration, Medicaid Administrative Claiming, Direct Services claiming, Cost Reporting and Settlement, and Audit Support. The firm's services are delivered through its proprietary web-based Fairbanks System platform with built-in data validation, dashboard, and audit-ready documentation, and are awarded through competitively bid multi-year government contracts.

Product overview

Fairbanks LLC offers a unified web-based platform called the Fairbanks System, which provides strategic, operational, and technology solutions supporting Medicaid and other claiming programs for government agencies. The core product portfolio consists of six integrated service areas: Random Moment Time Study (RMTS) for statistical sampling of staff activities, Medicaid Administrative Claiming (MAC) for reimbursement of administrative activities, Direct Services for health-related service reimbursement, Cost Reporting for reconciliation and settlement, and Audit Support and Program Evaluation. These services are delivered through the Fairbanks System platform which includes Dashboard, RMTS Dashboard, RMTS Moment, and RMTS Training modules. The platform also includes a proprietary MAC Simulator tool for policy impact modeling.

Differentiator

Problem solved

Functional benefit

Products and services

• Random Moment Time Study (RMTS) Web-based RMTS toolset and program administration service that automates the time-study process used in Medicaid Administrative Claiming and Direct Service Cost Reporting. Delivered to state Medicaid agencies and local education agencies under multi-year government contracts to support statistically valid sampling of staff activities for reimbursable Federal programs.
• Medicaid Administrative Claiming (MAC) Program service enabling government entities to claim Federal Medicaid reimbursement for activities related to administration of the state Medicaid plan, including identifying and enrolling populations, linking individuals to service providers, and coordinating health-related services. Includes the proprietary MAC Simulator tool for policy impact modeling.
• Direct Services Service enabling organizations to obtain Federal Medicaid reimbursement for health-related services provided to students enrolled in special education who are also enrolled in Medicaid, including Direct Service Claiming, Rate Setting, Cost Reporting, and Annual Reconciliation.
• Cost Reporting Web-based Cost Report/Cost Settlement service that reconciles Medicaid Fee For Service interim payments with the actual cost of providing services, including rate setting, data quality validation, and electronic audit documentation. Marketed as the first fully-integrated, web-based, statewide Cost Report/Cost Settlement toolset for school-based Medicaid programs in the country.
• Audit Support and Program Evaluation Program monitoring, analysis, and audit service for Medicaid claiming programs, including program design, software application review, state-specific audit procedures, and recommendations for statewide program improvements.

Quantifiable outcome

• Over 8,000 school districts served across 15 states with access to Medicaid reimbursement
• +3 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• National Alliance for Medicaid in Education (NAME)flagshipStrategic or Co-development PartnerNAME is a non-profit 501(c)(3) organization comprised of members from school districts and state Medicaid and Education agencies involved in Medicaid claiming for school-based services. Fairbanks is a founding partner and Diamond-level sponsor of NAME. The partnership involves annual conference sponsorship, co-presentation of policy guidance webinars (e.g., on CMS guidance implementation and OIG audit preparation), and joint advocacy for school-based Medicaid programs. The 2026 NAME conference will be held in Chicago, Fairbanks' home city.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Optum (UnitedHealth Group): Optum's State Government Solutions group provides Medicaid management, analytics, and program integrity services to state agencies. Although not focused on school-based services specifically, Optum is a frequent bidder on large state Medicaid procurements and represents scaled incumbent competition for adjacent engagements.
• Maximus: Maximus is a large public-sector BPO/consulting firm with a Health Services segment that provides Medicaid eligibility, enrollment, and operational support to state agencies. While broader than Fairbanks' school-based focus, it competes on adjacent state-level Medicaid contracts and brings greater scale and bid capacity to procurement processes.
• Conduent: Conduent provides Medicaid and government healthcare administration services, including claims processing, member services, and program integrity for state agencies. Its Transportation and Government Healthcare segments occasionally intersect with school-based services and represent a broader-incumbent competitor in state Medicaid procurements.
• Guidehouse: Guidehouse (formerly Navigant Consulting) is a large management consulting and technology firm with a public-sector healthcare practice serving state Medicaid agencies on policy, operations, and technology. It overlaps with Fairbanks' strategic advisory components — especially State Plan Amendment work and program transformation — though it is broader and not school-Mac-specialized.
• Deloitte Consulting (State Health & Human Services): Deloitte is the firm from which Fairbanks' four founding principals were recruited; it operates a much larger State Health & Human Services practice serving Medicaid agencies on transformation, technology, and operations. While Deloitte tends to compete at a different scale and on broader transformations, it remains the historical talent incubator for Fairbanks and an occasional competitor on large procurements.
• Mercer Government Human Services Consulting: Mercer's government human services practice advises state Medicaid agencies on rate setting, cost reporting, and program design — capabilities that overlap with the audit support and consulting layer of Fairbanks' portfolio. As part of Marsh McLennan, Mercer offers broader actuarial and consulting scale than Fairbanks.

Direct peers

• Public Consulting Group: PCG is the largest and most direct competitor in school-based Medicaid claiming, operating a near-identical suite of RMTS, MAC, Cost Reporting, and Audit Support services for state agencies and LEAs. The two firms regularly compete head-to-head in RFPs (e.g., Texas, New York, Missouri) and both serve thousands of school districts across the U.S.
• BerryDunn: BerryDunn's Medicaid Practice Group provides state agencies with school-based health services claiming, cost reporting, RMTS, and audit support — a service line closely parallel to Fairbanks' core offerings. It is a regular competitor in state Medicaid RFPs and serves many of the same LEAs and state customers.
• BOST (now part of PCG): BOST historically operated as a direct competitor providing RMTS, MAC, and Direct Services cost reporting for school-based Medicaid before being acquired by PCG. It is included as a historical direct peer because its former contract footprint (e.g., various state agencies) directly overlapped with Fairbanks' market.

Emerging players

• Health Management Associates (HMA): HMA is a healthcare consulting firm focused on Medicaid policy, program design, and state health agency transformation. While it overlaps with Fairbanks on policy advisory and SPA work, HMA does not currently offer a dedicated RMTS/MAC platform, making it more of an emerging/partial peer in the same state Medicaid buyer ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fairbanks