MedRisk announces it has acquired Select Provider Networks Inc (SPNet), a provider of a boutique specialty network of physical and occupational therapists to the workers’ compensation industry, for an undisclosed price.
Founded in 2008 by Select Medical, SPNet offers payors a prospective, managed rehabilitation solution to control physical medicine costs that includes a proprietary peer-to-peer utilization management system.
Under the new MedRisk ownership, SPNet will retain its name and operate independently, according to a media release from King of Prussia, Pa-based MedRisk.
“SPNet and MedRisk may have very different managed care programs, but one thing we share is a commitment to quality care for injured workers,” says MedRisk CEO Mike Ryan. “We look forward to working with SPNet’s management team to ensure that patients continue to benefit from effective, evidence-based treatment strategies for physical rehabilitation.”
SPNet’s President Greg Nichols, PT will continue to lead SPNet to deliver boutique network solutions to the workers’ compensation community, the release continues.
“SPNet offers a unique model, and we see real value in keeping this solution available to clients,” Nichols adds. “We’re looking forward to leveraging MedRisk’s resources and technologies to strengthen our service delivery.”
[Source(s): MedRisk, Business Wire]