Tallahassee Orthopedic Clinic Partners with MPV to Monitor Payor Compliance and Improve Reimbursement
Use of MPV Phynance™ will enable clinic to identify payment errors and maximize the value of its payor contracts
AUSTIN, Texas. – February 20, 2007 – 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 Tallahassee Orthopedic Clinic, an 18-physician practice located in Tallahassee, Fla.
MPV provides medical groups with a comprehensive payor contract management program that combines Web-based technology with the services of professional contract analysts to determine accurate reimbursement based on the latest fee schedules and payment rules. By fully defining and modeling the terms of each contract in the Web-based Phynance application, MPV's team of contract analysts allows medical groups to better identify and appeal claims paid at less than the contract rate and identify potential registration and posting errors. Phynance also enables users to recognize and modify contract language that may lead to underpayments.
"Without the ability to measure how contractual underpayments were affecting our revenue, we had no way to effectively manage reimbursement for medical claims," said Martin Shipman, CEO of Tallahassee Orthopedic Clinic. "Through our partnership with MPV, we will finally be able to gauge our contract performance, which will allow us to flag payment errors, build a more effective appeal process and increase revenue."
The clinic will also use Phynance to further improve its contract management processes, enhance reporting and maximize reimbursement. In addition, it can use the data stored in the application to model the financial implications of carve outs, alternate fee schedules and modifier rules during future negotiations with payors.
"In this day and age, it is incredibly difficult for medical groups to capture the revenue they are entitled to receive based on the terms outlined in their payor contracts," said Tom Stampiglia, CEO of MPV. "Tallahassee Orthopedic Clinic's selection of MPV will help the group to overcome this challenge, gain a better understanding of its contracts and increase revenue."
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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