MPV Announces Contract with Loyola University Physician Foundation; Medical Group Will Use MPV Phynance(TM) to Improve Contract Management, Reduce Payment Errors and Increase Cash Flow.
The 500-physician multispecialty group is partnering with MPV to better understand the complex terms of its payor contracts, enhance negotiations of future contracts and monitor payor compliance. By working with MPV to fully define and model the complex terms of its payor contracts, LUPF will be able to better identify and appeal claims paid at less than the contract rate as well as identify potential registration, coding and posting errors. The MPV Phynance application will also enable the medical group to assess overall contract performance and ensure chargemaster accuracy.
MPV utilizes a combination of Web-based software and a highly trained contract analyst team to value and verify the healthcare claims according to the terms of each individual payor contract. The contract team also maintains a database of client-specific contract terms, fee schedules and payment policies and continually updates Medicare, state and other payment rules to ensure claim pricing is accurate.
"Like many medical groups, Loyola University Physician Foundation found it difficult to ensure it was being paid accurately according to the terms outlined in its payor contracts," said Tom Stampiglia, CEO of MPV. "MPV Phynance will provide the information Loyola needs to determine accurate payment, improve revenue cycle efficiency and increase reimbursement."
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 17,000 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.