University of Wisconsin Medical Foundation Selects MPV for Payor Contract Management

Business Wire, Oct 9, 2007

Practice Will Use MPV's Combination of Services and Technology to Inform Payor Negotiations and Aggregate Appeals for 1,100 Physicians

AUSTIN, Texas -- University of Wisconsin (UW) Medical Foundation has selected Medical Present Value, Inc.'s (MPV) financial tools and expert services to manage payor contracts and audit reimbursement. According to the terms of the contract, the 1,100-physician multi-specialty practice will use MPV's contract definition services and Web-based Phynance[TM] application to monitor contract performance, detect payment variances and improve collections.

"Payor contract management is the final step in the revenue cycle management process and requires a great deal of staff attention," said Connie Kinsella, vice president of patient business services at Madison, Wis.-based UW Medical Foundation. "By taking advantage of the automation MPV provides, we are able to minimize the staff resources needed to oversee this process while better detecting payment variances and reducing payment cycle time."

MPV analysts will define and load individual contract terms into Phynance, creating a database of client specific terms, fee schedules and payment policies. Utilizing the information stored within the application, UW Medical Foundation will be able to identify contractual underpayments and aggregate appeals, resulting in streamlined workflow and reduced administrative costs. In addition, the practice will be able to use Phynance to create reports detailing the performance of its contracts and to model the financial implications of proposed contract terms.

"Reporting tools will help us see why certain contracts are performing well and why others are not. This information will inform our future payor negotiations and allow us to focus on the factors that influence our reimbursement the most," added Kinsella.

With MPV, UW Medical Foundation will also be able to estimate a patient's financial responsibility prior to the time of service. Delivering estimates to patients before a procedure is performed will help the group to increase time-of-service collections, improve cash flow and reduce patient bad debt.

"Payor contract management is an increasingly complex process, but when done correctly, it allows practices to optimize reimbursement and enhance their bottom lines," said Tom Stampiglia, CEO of MPV. "University of Wisconsin Medical Foundation's selection of MPV reinforces the important role that payor contracts play in an effective revenue cycle management strategy."

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.