Exhibit 11 CRA Managed Care, Inc. Calculation of Shares Used in Determining Primary Earnings Per Share THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, ---------------------- ---------------------- 1996 1997 1996 1997 ---------- ---------- ---------- ---------- Weighted average number of shares of common stock outstanding during the period........................................... 7,954,000 8,968,000 7,663,000 8,952,000 Common stock equivalents, under the treasury stock method..... 196,000 113,000 187,000 140,000 ---------- ---------- ---------- ---------- 8,150,000 9,081,000 7,850,000 9,092,000 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------