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MPV Secures Contract with Austin Regional Clinic to Identify Payment Variances and Simplify Appeals
MPV Phynance™ to help multi-specialty clinic automate current manual contract management processes
AUSTIN, Texas. – September 25, 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 agreement with Austin Regional Clinic
for payor contract management and payment verification.
MPV analysts will define the individual terms of Austin Regional Clinic's payor
contracts, including carve-outs, bundling edits and modifiers, and load them into the
MPV Phynance database. Using the client-specific contract terms, fee schedules and
payment policies stored in Phynance, the clinic will be able to identify contractual
underpayments, monitor payment trends, create custom reports and analyze
proposed contract terms.
"With the increasing complexity of payor reimbursement, our partnership with
MPV enables us to accelerate the process of identifying and challenging
underpayments, as well as gain complete control of our payor contracts," said
Norman Chenven, M.D., president and founder of Austin Regional Clinic. "We
recognized the inefficiencies and challenges associated with performing traditional
audits of our claims each day and determined a need for an efficient and more
powerful means to find every penny our practice is due."
In addition, the clinic will use Phynance to help generate patient estimates. By
calculating insurance allowables at or before the time of service and using applicable
deductibles, co-insurance or other payment terms, the clinic can determine the
patient portion due. With the increase of consumer-driven healthcare plans, this
functionality will help Austin Regional Clinic reduce patient bad debt and improve
communication with patients regarding their financial responsibility for services
rendered. It will also decrease the administrative costs related to patient billing and
minimize payment delays.
"As operational costs continue to increase and reimbursement rates remain
static, it is imperative that healthcare groups maximize legitimately earned revenue
through the effective management of their payor contracts," said Tom Stampiglia,
CEO of MPV. "Austin Regional Clinic's use of MPV services and technology will help
them to optimize their financial performance and enhance revenue cycle efficiency."
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 22,000 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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