MPV Announces Contract with SLUCare
Selection of MPV Phynance™ will allow 350-physician medical group to better identify and appeal contractually underpaid claims
SAN ANTONIO, Texas. – August 2, 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 SLUCare, the faculty practice plan organization for the 350 physicians on staff at Saint Louis University School of Medicine, signed a three-year agreement to implement MPV Phynance for improved payor contract management and claims auditing.
MPV's highly trained contract analyst team models payor contracts into the MPV Phynance application, which then 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 fully defining the terms of each contract in MPV Phynance, SLUCare will be able to better identify and appeal claims paid at less than the contract rate. The application will also enable the group to evaluate overall contract performance for future negotiations with payors.
"After using manual processes to manage and appeal underpaid claims, it became clear that we need a tool like MPV Phynance to maximize the amount of revenue we recover," said John Seay, director of physician services at SLUCare. "Automating this process provides us with a reliable and effective way to identify our underpayments, recover lost revenue and improve overall profitability."
"By using MPV Phynance, SLUCare will know if it is being paid in accordance with the complex terms of its numerous payor contracts," said Jamo Rubin, M.D., president of MPV. "This knowledge, coupled with our appeal and recovery tools, are the keys to an optimized revenue cycle."
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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