Global information services company Experian announced on June 28, 2011 that it has signed a definitive agreement to acquire Medical Present Value, Inc. (MPV), a provider of revenue cycle management software, data and analytics to more than 75,000 U.S. physicians.
Experian's existing healthcare solutions optimize payments from patients to hospitals. With the acquisition of MPV, Experian will be able to optimize payments from all revenue sources, including patients, commercial payers and government programs, to both hospitals and physician practices.
MPV offers a suite of patient and payer management solutions designed to help physician practices and hospitals improve collections, minimize denied claims and accelerate reimbursement. Notably, the acquisition extends Experian's reach beyond its current focus on hospitals into the large physician practice market.
"Healthcare providers in the U.S. face growing challenges when it comes to billing and collecting payments for services," said Dan Johnson, president of Experian's Healthcare Services. "With the addition of MPV, Experian is able to provide a more comprehensive set of products and services across the healthcare payments life cycle and help clients manage multiple vendors through a single point of contact."
Healthcare payer plans are becoming increasingly complex, and patients are assuming responsibility for a larger proportion of their healthcare bills. As this trend accelerates, healthcare providers must make greater use of data and analytics in order to better manage their revenue cycle.
MPV is being acquired for the sum of $185 million and its assets will immediately become a part of Experian. Operations will remain in Austin and San Antonio, TX, and Plymouth, MA.