Press Releases 2009
Three Groups Partner with MPV for Payor Contract Management
MPV Contract Management to help groups better monitor payor compliance, improve payor contract performance
AUSTIN, Texas. – February 17, 2009 – Medical Present Value, Inc. (MPV) today announced that it has secured contracts with the following groups representing more than 1,200 providers:
- University Physicians Healthcare, a 350-provider multispecialty practice based in Tucson, Ariz.;
- Sacramento-based CHW Medical Foundation to include the facilities of Mercy Medical Group, St. Joseph's Medical Group of Stockton, Sequoia Medical Group, Dominican Medical Foundation, Woodland Medical Group, Sierra Nevada Medical Group, and Mercy Imaging Center totaling 340 physicians; and
- University of Illinois Chicago (Wolcott, Wood, and Taylor, Inc.), a multispecialty group based in Chicago with 540 providers
Utilizing MPV Contract Management, a Web-based application that enables medical groups to audit reimbursements based on the latest payment rules and payor adjudication logic, will allow the practices to accurately assess the bottom-line impact and resulting revenue of their payor contracts.
"As margins continue to tighten because of increased overhead and patient bad debt, we knew we had to capitalize on every penny owed to us," said Sue Haddad, CFO of CHW. "MPV Contract Management will help us verify that payors abide by contract terms and enable us to provide patients with upfront estimates that set payment expectations before the time of service."
With Contract Management, the groups can verify claim payments at the line-item level, improve contract performance and optimize payor collections. The solution can also help practices estimate patients' copayments prior to service, increasing time of service collections and improving cash flow.
"Partnering with MPV will help us gain better insight into our contract terms and more easily track payment variances," said William R. Nicholas, PhD, president of Wolcott, Wood and Taylor, Inc. and executive director of the medical service plan of the University of Illinois. "Another deciding factor was that the software will also enable us to see the impact new contract terms will have on our reimbursement, which will help us develop a more effective negotiation strategy."
About MPV
MPV helps medical groups to maximize practice revenue and meet the demands of healthcare consumers by combining technology and consultative services to fully automate eligibility and insurance verification; reduce patient write-offs; monitor payor contract compliance; recover underpayments and negotiate better contracts.Contact:
Medical Present Value, Inc. (MPV)
Merideth Wilson
512.439.0201
mwilson@mpv.com
