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The Portland Clinic Partners with MPV to Improve Payor Contract Performance
Physician-owned clinic will deploy MPV Phynance™ to manage its payor contracts
and increase revenue
AUSTIN, Texas. – April 24, 2007 – The Portland Clinic, a 56-physician multi-specialty healthcare network based in Portland, Ore., has signed a contract with Medical Present Value, Inc. (MPV), a leading provider of financial tools and expert services to manage payor contracts and audit reimbursement. Under the terms of the agreement, the clinic will partner with MPV to monitor the accuracy of its reimbursement and identify potential underpayments.
"With the increasingly complex contracting arrangements and the narrowing reimbursement in the healthcare industry, we see value in tightly monitoring and managing our payor contracts, which would be impossible without an automated tool such as Phynance," said John Jacquot, COO for The Portland Clinic. "We selected MPV not only for the company's reputation as a market leader in the physician group space, but also for the comprehensive functionality that the Phynance solution provides."
Through its use of MPV's services and technology, The Portland Clinic will be able to:
- Fully understand its contract terms - MPV contract analysts define and model the individual terms of payor contracts into the Web-based MPV Phynance application, including carve-outs, bundling edits and modifiers.
- Identify potential underpayments - Phynance compares payments received against contract terms, verifying allowables and flagging potential underpayments at the line-item level.
- Monitor payor contract performance - Use of technology allows medical groups to recognize underperforming contracts, identify ambiguous contract language and negotiate more favorable terms.
- Improve workflow efficiency - Phynance enables medical groups to identify registration, coding and posting errors, resulting in more streamlined revenue cycle management processes.
"MPV will give The Portland Clinic the contract performance data it needs to maximize the value of its payor contracts," said Tom Stampiglia, CEO of MPV. "We look forward to partnering with them to further improve their revenue cycle processes."
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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