HOLLYWOOD, Fla. (May 3, 2017)—MedicFP, the company bringing to market breakthrough software that protects patient identity and prevents health care fraud has appointed its Chairman of the Board Ruben Jose King-Shaw, Jr. to the additional position of chief executive officer.
King-Shaw will serve as chairman of the board as well as CEO. He is considered one of the nation's foremost experts in health care economics. He has extensive experience in building early stage growth and startup ventures that leverage innovative health care information technologies. He also has valuable expertise in health care 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 of the Florida Agency for Health Care Administration (AHCA) 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," King-Shaw said. "Health care fraud and payment errors are among the biggest challenges our nation currently faces. Each year, approximately $360 billion is drained from our nation's health care 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 health care system billions of dollars. MedicFP addresses health care 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 toward 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 former Florida Gov. Jeb Bush. Tommy G. Thompson, former governor of Wisconsin and 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 health care fraud emerges as a priority at state and national levels."
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, health care 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.
Visit medicfp.com for more information.
