Formerly known as Spectrum Medical Group, Spectrum Medical Care Center desired a few things when they partnered with PayrHealth. First, they wanted to change the name of their legal entity as they merged with another provider. Second, they needed credentialing services for the new providers that would be joining their team, as well as for the additional payor contracts they hoped to secure. Finally, Spectrum wanted to see increases in their reimbursement rates with a goal of 10% growth in revenue.
PayrHealth joined with Spectrum Medical Care Center by providing complete payor management, handling both revenue cycle management as well as payor portfolio management. This two-pronged approach to growth focused on credentialing providers quickly, re-negotiating key outdated contracts, and securing new contracts with large insurance companies, all while handling a legal name change with all payors.
With PayrHealth at the helm, Spectrum achieved the results they were unable to attain on their own. As we continue to partner with them, re-negotiating contracts and looking for strategic opportunities to secure new ones to reach more lives, we will strive toward a 10% growth each year by monitoring 10 key contracts and negotiating for higher rates of the most relevant and often-utilized codes.
PayrHealth has the knowledge and expertise to secure highly competitive rates and terms for your contracts, no matter how outdated they are or how big a player the payor is. We also have a revenue cycle management team that helps bring two sides of your practice’s revenue cycle into focus through our comprehensive service offering, complete payor management. Reach out to our team today to find out more.