SMOC was committed to staying on the cutting edge of modern medicine and surgical techniques but found that many of their existing contracts were extremely outdated, meaning they didn’t have the revenue needed to compete with practices who were able to purchase new and novel equipment or practitioners. They asked PayrHealth for help because they lacked the internal expertise to address the complexity and time-intensive process of renegotiation. SMOC recognized their need to renegotiate decades-old contracts that hamstrung their payor revenue streams with outdated rates and non-competitive terms. Not having the time or expertise to handle this in-house, they turned to PayrHealth for their contract negotiation and re-negotiation needs.
Under their Payor Portfolio Management contract with PayrHealth, SMOC and PayrHealth worked with five contracts at a time to renegotiate their most valuable contracts to obtain competitive rates and terms with large insurance providers.
As a result of partnering with PayrHealth, we see higher reimbursement rates, can perform new services in-network, and have a better understanding of the contracting process with payors. The return on investment will be significant and the payback on the cost of services will be extremely fast. By completing these renegotiations, we are able to provide quality care to our patients and be fairly reimbursed in the market for years to come.
Having negotiated over 50,000 contracts in all 50 states, 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has the knowledge and expertise to secure highly competitive rates and terms for your contracts, no matter how outdated they are or how big a player the payor is.