Novant Medical Group, Greenville Hospital System and State of Franklin Healthcare Associates Partner with MPV for Better Payor Contract Oversight
Multi-specialty groups to utilize MPV's services and tools for
optimal contract performance
AUSTIN, Texas--(Business Wire)--
Three multi-specialty groups representing 1,600 physicians signed
contracts with Medical Present Value, Inc. (MPV), a provider of
financial tools and expert services that improve payor contract
management processes and audit reimbursement.
MPV will help the practices monitor payment accuracy and negotiate
better contract terms with payors. The groups include:
-- 1,200-provider Novant Medical Group headquartered in
Charlotte, N.C.;
-- 325-provider Greenville Hospital System (GHS) based in
Greenville, S.C.; and
-- 74-provider State of Franklin Healthcare Associates based in
Johnson City, Tenn.
"Whether you are a small or large group, capturing every bit of
revenue is important to be able to deliver remarkable patient care,"
said A.J. Patefield, M.D., executive vice president of Novant Medical
Group. "Partnering with MPV ensures that we are being paid what we
have earned, and gives us insight to negotiate new contract terms
based on the factors that affect our reimbursement most."
Through the use of MPV Phynance(TM), the groups will be able to
monitor contract terms, fee schedules and payment policies--equipping
them with the tools needed to ameliorate payor contract compliance and
overall revenue cycle efficiency.
"With contract-based explanations of underpayments, MPV provides
our group with the data needed to easily resolve these issues in a
timely manner--resulting in optimized reimbursement and, ultimately,
improved relationships with our payors," said Pat Marshall, M.D.,
medical director of the GHS University Medical Group and chairman of
the GHS Department of Community Medicine.
In addition, MPV enables physician groups to simplify payor
contract management through comprehensive reporting tools that help
users isolate patterns and sources of payment errors. With access to
this information, users can improve communications with payors and
correct issues going forward.
"Using MPV's advanced reporting tools allows us to easily detect
undercharges and identify incorrectly loaded fee schedules that result
in erroneous reimbursement," said Rich Panek, CEO of State of
Franklin. "These resources combined with the ability to analyze every
single line item and file bulk appeals leads to increased revenue and
maximizes the return on our investment."
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.
MPV
Press Contact:
Merideth Wilson
512-439-0201
mwilson@mpv.com
Copyright Business Wire 2008
