Experian expands footprint in healthcare, acquires Medical Present Value
Acquisition expands Experian’s existing hospital revenue cycle solutions and enables entry into physician practice market
Costa Mesa, Calif., June 28, 2011 — Experian®, the leading global information services company, today announced that it has signed a definitive agreement to acquire Medical Present Value, Inc. (MPV), a leading 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 now 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 complementary suite of patient and payer management solutions that 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.
“Health care 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.
“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,” said Tom Stampiglia, CEO 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.”
“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,” added Johnson. “The purchase of MPV is the next step in that mission, by expanding our healthcare offerings to its large network of physicians and other healthcare providers.”
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, Texas, and Plymouth, Mass.
Contact:
Roslyn Whitehurst
Experian Public Relations
1 714 830 5578
roslyn.whitehurst@experian.com
About MPV
MPV enables more than 75,000 providers to optimize revenue collection from patients and payers. Through a combination of proven technology and consultative services, MPV assists these providers in maintaining profitability by automating and streamlining critical revenue cycle functions. MPV’s principal investors are Rho Ventures, CenterPoint Ventures, Star Ventures and Care Capital.
About Experian
Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2011 was $4.2 billion. Experian employs approximately 15,000 people in 41 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
For more information, visit http://www.experianplc.com.
Experian and the Experian marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.