Hollywood, FL. - MedicFP®, the company bringing to market breakthrough software which protects patient identity and prevents healthcare fraud has appointed its Chairman of the Board Ruben Jose King-Shaw, Jr. to the additional position of Chief Executive Officer.
Mr. King-Shaw will serve as Chairman of the Board as well as CEO. He is considered one of the nation's foremost experts in healthcare economics. He has extensive experience in building early stage growth and startup ventures which leverage innovative health care information technologies. He also has valuable expertise in healthcare program integrity and fraud prevention strategies as a result of his years of public service in senior level positions in both state and federal government.
King-Shaw was Secretary the Florida Agency for Health Care Administration and served as Deputy Administrator and Chief Operating Officer at the Centers for Medicare & Medicaid Services (CMS.) His background strategically positions MedicFP® as a leader in the detection of fraud and a guardian of public trust in the Medicare and Medicaid sectors.
"It is an honor to be the new CEO of MedicFP," said Mr. King-Shaw. "Healthcare fraud and payment errors are among the biggest challenges our nation currently faces. Each year approximately $360 billion is drained from our nation's healthcare system by perpetrators of fraud. Left unchecked, phantom billing alone is estimated to grow to over $200 billion by 2020. Additionally, approximately 440,000 lives are lost each year due the fraudulent corruption of medical records via identity theft. I am privileged to be at the helm of a company that has developed a solution to protect patients, providers, insurers and the public trust."
MedicFP® has created the first and only program integrity solution that facilitates patient safety by authenticating patient identity while also saving the healthcare system billions of dollars. MedicFP® addresses healthcare concerns related to medical identity theft, medical identity sharing and phantom billing - the billing for services not delivered to the proper patient. MedicFP®'s technology enables payers and providers to verify a patient's identity, eligibility, presence and location before treatment. The company also enables patients to confirm the identity of home health care professionals, DME workers and personal care givers prior to allowing them into their home. "As the shift towards home and community based care accelerates, the opportunities for fraud and payment errors in the home health, DME, medical transportation and telemedicine sectors grows with it" says King- Shaw. "It will take smart technologies and new strategies such as ours to protect providers, payers and patients --elders in particular."
"Ruben was a very key member of my team. He led AHCA with enormous distinction and success. MedicFP will benefit from Ruben's leadership and direction, "said Governor Jeb Bush of Florida. Governor Tommy G. Thompson, former Secretary of Health and Human Services said "Ruben is a strong leader with a clear vision for the company. MedicFP made a great choice." Keith Poliakoff of Arnstein & Lehr Attorneys, the firm's general counsel said "As the company's legal policy officer, I could not have asked for a more qualified industry leader to work with in developing relationships with governmental agencies across the U.S. to expand the footprint of MedicFP®. Ruben has the depth and experience required to steer MedicFP®'s strategic growth plan as the prevention of healthcare fraud emerges as a priority at state and national levels."
Mr. King-Shaw's experience includes decades of engaging start-up and early-stage growth health care information technology companies, publicly traded firms and multinational corporations. His expertise intersects capital and consumer market trends, healthcare policy, clinical research, technology development and demographic trends. Management teams and product leaders have relied on his vision and leadership skills to design and execute value creation plans for Accountable Care Organizations, prescription drug manufacturers, digital health companies, managed care plans, home health agencies and DME suppliers.
MedicFP® former interim CEO Wendell Elms has accepted the position of Executive Vice President of Business Development.
MedicFP is a healthcare technology company that has developed the first point-of-care program integrity solution designed to prevent payment errors and healthcare fraud before it occurs. Working in collaboration with national healthcare experts, MedicFP® has created the next generation of patient identity protection technology that will save the healthcare system billions of dollars while increasing patient safety by protecting patient identity.
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