Thursday, July 17, 2008

Plymouth software developer TeraHealth sold to MPV

By Mass High Tech Staff

Medical Present Value Inc. reports that it has acquired software maker TeraHealth Inc.

Plymouth, Mass.-based TeraHealth provides software and services for insurance and benefits verification. The company, founded in 1995, will change its name to MPV and continue operating in Plymouth, officials said.

TeraHealth president and CEO John Donnelly will join MPV as general manager of the eligibility product suite.

Financial terms of the deal were not disclosed.

TeraHealth’s software is designed to enable physician groups to improve eligibility processes by electronically gathering co-pay, benefits and deductible information via batch or real-time transaction. Its ESI and MedeConnect products are EDI tools designed to eliminate the need for staff to manually verify insurance information and reduce registration, co-pay and billing errors.

Austin, Texas-based MPV provides medical groups with financial tools and consultative services to monitor payor performance; verify reimbursement; reduce registration, coding and posting errors; negotiate better contracts; and improve overall cash flow. Nationally, it serves more than 28,000 physicians, company officials said. Founded in 1996, MPV employs about 80 workers.

In June, the University of Texas Medicine San Antonio, the physicians group practice of the University of Texas Health Science Center at San Antonio, adopted MPV’s management system for third-party payor contracts. UT Medicine San Antonio manages a network of 800 providers.