Experian announced Tuesday that it has signed an 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, for $185 million. MPV's assets will immediately become a part of Experian.
With the acquisition, Experian will be able to "optimize payments from all revenue sources (including patients, commercial payers and government programs) to both hospitals and physician practices," according to company officials. It extends Experian’s reach beyond its current focus on hospitals into the large physician practice market.
MPV offers a complementary suite of patient and payer management solutions that help physician practices and hospitals improve collections, minimize denied claims and accelerate reimbursement, according to Experian.
"Health care providers in the U.S. face growing challenges when it comes to billing and collecting payments for services," says 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 health care payments life cycle and help clients manage multiple vendors through a single point of contact.”
Health care payer plans are becoming more complex, and patients are assuming responsibility for a larger proportion of their medical bills. As this trend grows, providers must make greater use of data and analytics to better manage their revenue cycle.
"We are extremely pleased to be part of Experian and will continue to provide products and services that improve business processes throughout the healthcare revenue cycle," adds Tom Stampiglia, chief executive of MPV. "At the core of our efforts, we will be leveraging the full range of capabilities of both organizations to help healthcare providers optimize their financial health."
Adds Johnson, "Since Experian acquired SearchAmerica in 2008, we have been dedicated to providing hospitals with smarter data and innovative products and services that help them produce a healthier bottom line. The purchase of MPV is the next step in that mission, by expanding our health care offerings to its large network of physicians and other health care providers."
MPV's operations will remain in Austin and San Antonio, Texas, and Plymouth, Mass.