MPV Announces Availability of Patient Portion Pricer

SAN ANTONIO, Texas. - January 4, 2005 - Medical Present Value, Inc. (MPV), the premier provider of financial tools and expert services to manage payor contracts and payment variances, today announced the commercial availability of Patient Portion Pricer, a time-of-service collections module that accurately calculates expected patient financial responsibility before or at the time of service.

All medical groups struggle with timely and complete collection of patient balances. Collection on or before the day of service is a powerful way to solve this problem. To succeed, medical groups need to know what the health plan will allow for the claim. MPV's Patient Portion Pricer provides the tools and data to provide such estimates, allowing medical groups to know what to collect from patients. Such collections will enhance medical group revenue cycle performance and reduce patient write-offs.

"Patient Portion Pricer helps us to identify how much we need to collect from patients prior to surgery," said Linda Prestegard, managed care and information systems coordinator of Neurosurgical Associates of San Antonio. "This increases our up-front collections and allows us to quickly and accurately provide our patients with a fair and reasonable estimate of their financial responsibility for the services to be provided."

Patient Portion Pricer is integrated with MPV Phynance™, a Web-based revenue cycle management tool that values patient care services, identifies contractual underpayments and helps medical groups achieve appropriate reimbursement. Using sophisticated Phynance claims valuation logic and MPV's database of client reimbursement contracts and payment rules, Patient Portion Pricer allows front-office staff to immediately determine patient balances that should be collected.

"Before taking advantage of the Patient Portion Pricer, giving estimates to patients was much more labor intensive," said Twyla Fuertes, business manager for Texas Orthopedics, Sports and Rehabilitation, a beta site for the module. "Our patients are impressed with our ability to produce accurate information in such an efficient and professional format."

Patient Portion Pricer prompts users to enter information on the services being provided, the patient's benefits information and their organization's financial policies. It then determines the applicable estimated patient balance given the contractual expected value of the claim. Collecting this balance, including deductible and co-insurance, before the patient leaves the office will reduce outstanding receivables and the costs related to patient billing and collections.

"In today's business environment, medical groups need to collect every dollar they earn, but it's costly to collect those dollars once a patient leaves the office," said Larry Gray, CEO of MPV. "With Patient Portion Pricer, front-office staff no longer has to wait on reimbursement from the payer to accurately calculate the patient's share of the bill. By collecting more payments at the time of service, medical groups can avoid payment delays, reduce bad debt and boost revenue."

About MPV
MPV, headquartered in San Antonio, Texas, enables medical groups to increase revenue and reduce payment cycle times through contract modeling services and claims auditing software that ensure medical claims are paid accurately according to their payor contracts. Founded in 1996, the company is privately held and serves physician organizations across the United States. For more information, please visit www.mpv.com.

Contact:
Medical Present Value, Inc. (MPV)
Merideth Fulton
512.439.0201
mfulton@mpv.com

<< Back