|
MPV Secures Contract with North Canton Medical Foundation to Verify Reimbursement
Multi-specialty clinic teams with MPV to track performance of its payor contracts
AUSTIN, Texas. – November 27, 2007 –
North Canton Medical Foundation will partner with Medical Present Value, Inc. (MPV), a leading provider of financial tools and expert services to manage payor contracts and audit reimbursement, it was announced today.
The 44-physician multi-specialty clinic based in North Canton, Ohio, will use MPV's financial tools and services to automate payor contract management processes and improve its overall revenue cycle. MPV's analysts will define the individual terms of the group's payor contracts and load them line-by-line into the Web-based Phynance™ application, resulting in a database of client-specific contract terms, fee schedules and payment policies.
"This increased focus on reimbursement will enable us to enhance our cash management strategies and revenue cycle processes," said Tim Murphy, CFO at North Canton Medical Foundation. "We needed a tool to help our organization appeal and recover contractual underpayments as well as monitor precisely how our contracts are performing. MPV provided a complete, proven solution for all of these needs."
Utilizing MPV's consultative services and Phynance technology, North Canton Medical Foundation will be able to:
- Identify contractually underpaid claims;
- Detect registration and posting errors;
- Aggregate and submit contract-based appeals;
- Determine patient co-payments prior to the time of service; and
- Analyze the financial impact of proposed contract terms.
"With operating costs continuing to outpace revenue growth at practices nationwide, effective payor contract management is imperative to bolster the bottom line," said Tom Stampiglia, CEO of MPV. "By partnering with MPV, North Canton Medical Foundation will have the necessary tools to improve the performance of their payor contracts and improve cash flow."
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
<< Back |