Medical Present Value, a provider of healthcare revenue cycle solutions, has secured new contracts with Presbyterian Healthcare Services, Marin Medical Practices Concepts, and the St John’s Medical Group.
By automating its payor contract management processes, the groups expect to be able to improve contract performance and optimize payor collections by verifying accurate reimbursement for services rendered.
Loading each group’s contract terms into the Medical Present Value (MPV) Phynance solution and creating a database of client-specific contract terms, fee schedules and payment policies will enable the groups to better monitor payor compliance and verify claim payments at the line-item level, according to MPV.
Contract data stored in Phynance empowers groups to determine patient copayments before the time of service. MPV said that groups can also use the software to analyze proposed contract terms based on the mix of services that will have the impact on reimbursement.
Dale Maxwell, vice president and CFO of Presbyterian Healthcare Services, said: MPV is a perfect partner for Presbyterian. Its knowledge and experience with multiple practice management systems along with its familiarity of our key payors will result in a quick implementation. We are confident that MPV will improve the accuracy of identifying underpayments and increase the efficiency of tracking payment variances.