MediRevv, a Coralville health care revenue cycle management company, broke ground Monday for a $3.2 million building that will allow the business to add 80 full-time jobs over the next two years.
The 26,200-square-foot, two-story structure at 2600 University Pkwy. is MediRevv’s second building project in less than two years. The company, which employs 150, broke ground on a $2.4 million, 18,000-square-foot building in March 2012.
The latest MediRevv expansion project received $150,000 in state tax credits through Iowa’s High Quality Jobs Program. The Coralville City Council approved a $698,000 forgivable loan in September for MediRevv.
Completion of the new building is projected for August 2014.
MediRevv, formerly Precision Revenue Strategies, opened in 2007 with six employees. The company handles insurance claims and patient payment for hospitals, health systems and physician groups.
Brad Baldwin, MediRevv vice president of operations, said the new building will ensure MediRevv has plenty of room to continue growing, with the capacity to accommodate several hundred people.
Baldwin said MediRevv’s location, surrounded by a high concentration of health care facilities and the University of Iowa, has contributed to the company’s growth.