PRESS RELEASES
Medical Present Value, Inc. (MPV) Ranked Number 191 Fastest Growing Company in North America on Deloitte's 2009 Technology Fast 500™
Attributes its 714 percent revenue growth to client success, a dedicated work force and software as a service business model
AUSTIN, Texas. – October 25, 2009 – Medical Present Value, Inc. (MPV) today announced that it ranked number 191 on Technology Fast 500™, Deloitte LLP's ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the five-year period from 2004–2008. Medical Present Value, Inc. (MPV) grew 714 percent during this period.
MPV's CEO, Tom Stampiglia, credits a service approach coupled with solutions that yield quantifiable returns on investment for the company's 714 percent revenue growth over the past five years. He said, "Every day MPV's highly skilled work force delivers a suite of solutions for our medical group clients that improves their revenue cycle processes and accelerates cash flow. Our goal is to empower our clients to collect the right amount of money, from the correct party, in the shortest amount of time."
"Technology Fast 500™ recognizes innovative companies that have broken down barriers to success and defied the odds with their remarkable five-year revenue growth," said Phil Asmundson, Vice Chairman and U.S. Technology, Media and Telecommunications leader, Deloitte LLP. "We congratulate MPV on this accomplishment."
"With its impressive five-year growth, MPV has earned its position among the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America," said Mark Jensen, Managing Partner, Technology and Venture Capital Services, Deloitte & Touche LLP. "Deloitte is proud to honor MPV for its achievement."
MPV previously ranked 323 as a Technology Fast 500™ award winner for 2008.
Overall, Technology Fast 500™ award winners for 2009 had growth rates ranging from 212 to 146,050 percent over five years, with an average growth rate of 2,486 percent.
Technology Fast 500™ Selection and Qualifying Criteria
Technology Fast 500™ provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. This ranking is compiled from nominations submitted directly to the Technology Fast 500™ website, and public company database research conducted by Deloitte. Technology Fast 500™ award winners for 2009 are selected based on percentage fiscal year revenue growth during the five year period from 2004 to 2008.
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues. Using other companies' technology or intellectual property in a unique way does not satisfy this requirement. Consulting companies, professional service firms, etc. are not eligible unless they have proprietary technology that contributes to a significant portion of their operating revenues.
Technology Fast 500™ award eligibility requirements also include base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. These revenues must have more than doubled between 2004 and 2008. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About MPV
MPV helps medical groups to maximize practice revenue and meet the demands of healthcare consumers by combining technology and consultative services to fully automate eligibility verification; reduce patient write-offs; monitor payer contract compliance; recover underpayments and negotiate better contracts.
About Deloitte
"Deloitte" is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, and tax services to selected clients. These firms are members of Deloitte Touche Tohmatsu (DTT), a Swiss Verein. Each member firm provides services in a particular geographic area and is subject to the laws and professional regulations of the particular country or countries in which it operates. DTT helps coordinate the activities of the member firms but does not itself provide services to clients. DTT and the member firms are separate and distinct legal entities, which cannot obligate the other entities. DTT and each DTT member firm are only liable for their own acts or omissions, and not those of each other. Each of the member firms operates under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other related names. Each DTT member firm is structured differently in accordance with national laws, regulations, customary practice, and other factors, and may secure the provision of professional services in their territories through subsidiaries, affiliates and/or other entities.
Contact:
Medical Present Value, Inc. (MPV)
Merideth Wilson
512.439.0201
mwilson@mpv.com
