SpectraCell Laboratories announced today it has signed a provider agreement with Beech Street Corporation, one of the nation’s largest preferred provider organizations (PPO), for healthcare management services. Beech Street will assist SpectraCell with the ever-increasing administrative needs that accompany healthcare reimbursement coverage for an expanding laboratory.
Beech Street addresses the various coverage obstacles in today’s healthcare environment, and acts as a liaison between SpectraCell and other healthcare stakeholders such as HMO’s and medical insurance companies. The Beech Street payor list contains over 1000 companies, including many insurance giants and covers 16 million eligible individuals nationally.
“Health care costs have risen astronomically in recent years, which has created a sort of battle between consumers, insurance carries and providers, even though their underlying goal is really the same – health and wellness.” comments Rusty Preece, VP and CFO of SpectraCell. “The decades of experience that Beech Street has will help us bridge the gap in the often complicated world of managed care and healthcare policy.”
The contract with Beech Street covers one year of service and will be reviewed annually. Due to increasing numbers of doctors that understand the value of micronutrient testing, advanced lipid testing, and laboratory services aimed at prevention and earlier diagnosis, SpectraCell Laboratories continues to grow. The company’s number of employees has more than doubled since 2005 and SpectraCell now serves over 3,500 physician clients in 42 states.
