MPV Signs Agreement with Cardiovascular Consultants Medical Group
Calif.-based medical practice will deploy MPV Phynance™ to monitor
the accuracy of its reimbursement
AUSTIN, Texas. – March 28, 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 Cardiovascular Consultants Medical Group (CCMG), a 20-physician practice headquartered in Oakland, Calif.
MPV helps medical groups optimize reimbursement by defining and modeling payors' reimbursement rules and automatically verifying that payments follow the terms of the contract. CCMG will utilize MPV's services and Web-based technology to:
- Better identify and manage payment variances;
- Evaluate overall contract performance;
- Audit reimbursements;
- Improve cash flow; and
- Assess the financial implications of new and proposed contracts.
"The process of reviewing claim payments and ensuring they complied with payor contract terms was incredibly time-consuming for our staff," said Marcia Phoenix Gibbs, administrator for Cardiovascular Consultants Medical Group. "With MPV's unique mix of services and technology, we will be able to automate our efforts, save valuable staff time and verify reimbursement at the line-item level."
"Phynance will provide Cardiovascular Consultants Medical Group with access to contract performance data that will have an immediate impact on the revenue cycle," said Tom Stampiglia, CEO of MPV. "Equipping managers with this information will help the group to improve cash flow and maximize 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 31,200 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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