Regions Hospital Selects MD Ranger to Provide Compensation Benchmarks for Physician Contracting
Comprehensive Data Reduces Need for Independent FMV Consulting Opinions
June 20, 2011
Contact: MD Ranger Business Development
Phone: (650) 692-8873
BURLINGAME, Calif.—MD Ranger, Inc. a leading provider of compensation benchmarks for physician service contracts, today announced that Regions Hospital, located in St. Paul, Minn., has selected MD Ranger's proprietary physician compensation database to help provide decision support and strengthen compliance and contracting activities for medical direction, call coverage and hospital-based physician services.
Regions is a private, non-profit hospital, and was named one of the Highest Value Hospitals in the nation by the Leapfrog Group. Regions was also ranked among the best in the nation for its use of technology to benefit patient care and safety, being named one of the "Most Wired" organizations by Hospital & Health Networks magazine.
"MD Ranger provides powerful tools and information that will help us negotiate stronger contracts for medical direction and other physician services," said Heidi Conrad, CFO of Regions Hospital. "MD Ranger will help us gain a competitive advantage by understanding the unique market conditions impacting fair market valuation."
MD Ranger provides comprehensive compensation benchmarks and scope of service data for physician contracts for on-call coverage, medical direction, administrative services, diagnostic testing services and hospital-based physician services to help healthcare providers document and understand market rates for contract negotiation.
Penny Stroud, CEO of MD Ranger said, "MD Ranger continues to see increased adoption of its benchmarking database, and we are pleased to continue our expansion into the Midwest. We look forward to working with Regions Hospital to provide them with solutions that will help improve the physician contracting process."
The company's proprietary physician compensation database is one of the most robust and reliable in the industry, representing data from more than 4,500 contracts and 230 hospitals in 19 states. MD Ranger's benchmarks and reports allow hospitals to eliminate or reduce costly consulting fees to document fair market value and negotiate competitive payment rates.
About Regions Hospital
Regions Hospital is a Level I Trauma Center and teaching hospital serving Minnesota and western Wisconsin for more than 130 years. Regions is a private, non-profit hospital providing outstanding care in women's health, heart, cancer, surgery, orthopaedics, neurosciences, burn, emergency care and more. Regions is part of the HealthPartners family of care. Additional information is available at www.regionshospital.com.
About MD Ranger
MD Ranger is a leading provider of data-driven physician compensation benchmarks that help hospitals, physicians and health systems determine appropriate compensation rates, negotiate competitive contracts, and comply with federal regulations. The company's proprietary database and benchmarks reduce the complexity and costs of establishing fair market value for on-call arrangements, medical directorships, administrative services, diagnostic testing services, and hospital-based medical groups. For more information, visit www.mdranger.com