TAMPA, Fla., Nov. 20, 2018 /PRNewswire/ -- ProtoLytic, LLC, an innovative provider of medical evidence-based decision support and fulfillment services for insurance companies, today announced it acquired Medical Pay Review, Inc., a Florida company specializing in payment integrity. ProtoLytic uses sophisticated algorithms to analyze the appropriateness of medical services. Medical Pay Review uses advanced rules-based analysis to evaluate whether claim payments are consistent with guidelines and government regulations. The acquisition will broaden the scope of ProtoLytic's products and add significant benefits for its clients.
"The new company will take advantage of the advanced analytic tools by offering expanded services for our clients," said Michael Schopke, Founder and CEO of Medical Pay Review. Following the acquisition, Mr. Schopke will serve on the Board of ProtoLytic, LLC. "We look forward to integrating the state-of-the-art technologies developed by both companies to offer a truly unique solution for our clients," said Tom Sweet, Managing Director and CEO of ProtoLytic. Mr. Sweet will serve on the Board of ProtoLytic and take on the role of Managing Director and CEO of the new company.
Health care is increasingly using advanced analytics to improve patient care and help to control rising costs and ProtoLytic is positioned to help our clients in their goals.