Holy Cross Medical Group Partners with MPV to Improve Contract Performance and Increase Revenue
Use of MPV's contract analysis tool will allow leading medical group to enhance the way it identifies contractual underpayments
SAN ANTONIO, Texas. - June 14, 2005 - Medical Present Value, Inc. (MPV), the leading provider of contract modeling services and claims auditing software to maximize reimbursement for medical groups, today announced that Holy Cross Medical Group will implement MPV Phynance™ to further improve its contract management process and to better identify payment variances.
The Ft. Lauderdale-based group will use MPV Phynance to redefine the complex terms of its payor contracts and evaluate overall payor contract compliance at its 25 locations. Modeling its contracts this way will enable Holy Cross Medical Group to better assess the impact of the many variables and details included in its managed care contracts. This data will allow Holy Cross to further determine whether it is being paid in accordance with its contracts and gauge overall contract performance for future negotiations with payors.
"By teaming with MPV to verify the accuracy of our claim payments, we will be able to quickly identify additional underpayments and appeal opportunities," said Lisa Hawthorne, executive director of Holy Cross Medical Group. "MPV Phynance will allow us to more easily compare rates, bundling guidelines and payment timeliness among our managed care payor contracts. We also plan to use the product as an analytical tool for physician compensation and cash flow projections."
"We believe this product helps to even out the playing field in our contract negotiations," added Patrick A. Taylor, M.D., senior vice president of Holy Cross Hospital. "The ability to model proposed rates down to the CPT code, using real volume data by specialty practice, changes the dynamics of the negotiation process."
"We are thrilled to partner with Holy Cross Medical Group and look forward to helping them improve the performance of their payor contracts," said Jamo Rubin, M.D., president of MPV. "By taking this additional step toward ensuring accurate reimbursement, Holy Cross will be able to realize increased revenue and improved cash flow."
About MPV
MPV, headquartered in San Antonio, Texas, enables medical groups to increase revenue and reduce payment cycle times through contract modeling services and claims auditing software that ensure medical claims are paid accurately according to their payor contracts. Founded in 1996, the company is privately held and serves physician organizations across the United States. For more information, please visit www.mpv.com.
About Holy Cross Hospital
Holy Cross Hospital, the only faith-based hospital in Broward County, is sponsored by the Sisters of Mercy and this year celebrates 50 years of caring for the community. Holy Cross provides state-of-the-art technology and equipment, a premier medical staff, and a variety of award-winning, innovative healthcare services to meet the healthcare needs of the entire family. Since the doors opened in Fort Lauderdale in 1955, this 571-bed hospital has offered progressive services and programs to address the evolving healthcare needs of Broward County. Today, Holy Cross has more than 600 physicians on staff representing more than 40 specialties, and over 2,800 Associates dedicated to the health and well being of the community. To learn more about Holy Cross and their commitment to healthcare excellence, visit at www.holy-cross.com.
Press Contact:
Merideth Fulton
210.582.6331
mfulton@mpv.com
