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Campbell Clinic Signs Contract with MPV
Leading orthopaedics group will use MPV Phynance™ to improve its claims valuation process and optimize reimbursement
SAN ANTONIO, Texas. – June 21, 2005 – Medical Present Value, Inc. (MPV), the leading provider of contract modeling services and claims auditing software to maximize reimbursement for medical groups, today announced that Campbell Clinic, a 36-physician orthopaedics practice in Memphis, Tenn., has signed an agreement to deploy MPV Phynance for payor contract management and payment verification. The Clinic will use the MPV Phynance application to help define the complex terms of its payor contracts, monitor the accuracy of its reimbursement and increase revenue.
"As we looked for a better way to identify and recover underpaid claims, we explored a number of options. MPV Phynance quickly emerged as the ideal solution because it strikes a perfect balance between innovative software and consultative services," said George Hernandez, chief financial officer of Campbell Clinic. "We are confident MPV has the right mix of experience, expertise and technology to automate and improve our claims valuation process."
MPV employs a highly trained contract analyst team to model payor contracts into the MPV Phynance application, which values and verifies healthcare claims according to the terms of each individual payor contract. The team also maintains a database of client-specific contract terms, fee schedules and payment policies and continually updates Medicare, state and other payment rules to ensure claim pricing is accurate.
"By using MPV Phynance we hope to not only increase net revenue and strengthen the bottom line, but also streamline internal processes and improve overall operating efficiency," said John Vines, chief executive officer of Campbell Clinic. "This tool will be instrumental in helping our staff better manage the revenue cycle."
Campbell Clinic is recognized as a world leader in sports medicine, pediatric orthopaedics, joint replacement and surgery of the hand, hip, foot, knee, shoulder and spine. Its physicians serve as team doctors for the NBA's Memphis Grizzlies, The Memphis Redbirds, The University of Memphis, The Memphis Riverkings, Rhodes College and Christian Brothers University.
"With so many variables in today's payor contracts, it is extremely challenging for medical groups to ensure fair and prompt reimbursement on their medical claims," said Jamo Rubin, M.D., president of MPV. "By teaming with MPV, Campbell Clinic will have the tools it needs to appeal and recover revenue that was lost because of claims paid at less than the contract rate."
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
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