MPV Secures Contract with Tennessee Orthopaedic Clinics
Medical group will deploy MPV Phynance™ to monitor payor contract compliance and improve cash flow
AUSTIN, Texas. – August 29, 2006 – Medical Present Value, Inc. (MPV), a leading provider of financial tools and expert services to manage payor contracts and audit reimbursement, today announced a new contract with Tennessee Orthopaedic Clinics, one of the largest groups of orthopaedic specialists in eastern Tennessee.
The 22-physician group will utilize MPV's combination of consultative services and Web-based technology to help identify and appeal payment variances. MPV's contract analyst team will define and model the complex terms of Tennessee Orthopaedic Clinics' payor contracts into the Web-based MPV Phynance application, which then values medical claims based on the latest payment rules and fee schedules. Defining and modeling payor contracts this way will enable the group to:
- Flag potential registration, coding and posting errors;
- Track individual contract performance;
- Recognize and modify contract language that may lead to underpayments;
- Ensure chargemaster accuracy; and
- Evaluate the implications of new and proposed contract terms.
"Until now, we did not have the resources required to gauge how our payor contracts were affecting the revenue cycle," said Earl Anderson, executive director of Tennessee Orthopaedic Clinics. "With MPV, we can not only ensure that we are being paid in accordance with our payor contracts, but we can also use the data stored in the Phynance application to enhance revenue cycle processes across the practice, resulting in increased productivity and a healthier bottom line."
Tennessee Orthopaedic Clinics will also use the data stored in MPV Phynance to calculate patient co-payments and balances at or before the time of service at all of its eight locations. Providing patients with estimates prior to service will help the group to avoid payment delays, reduce bad debt and increase revenue.
"In today's complex reimbursement environment, medical groups are faced with a tough challenge when it comes to ensuring timely and accurate payment," said Tom Stampiglia, CEO of MPV. "Tennessee Orthopaedic Clinics understands the important role that payor contracts play in the process, and we commend them for their progressive approach to revenue cycle management."
About MPV
MPV provides medical groups with financial tools and expert consultative services to monitor payor performance, verify reimbursement, reduce registration, coding and posting errors, negotiate better contracts and improve overall cash flow. Serving more than 27,000 physicians nationwide, MPV gives clients better control of their payor contracts, improves workflow efficiency and strengthens the bottom line. 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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