Hospitals across the country replaced obsolete manual processes with Recondo's automated data intelligence for patient pricing estimates, eligibility and authorization verification and claim status
DENVER, Jan. 11, 2016 /PRNewswire/ -- New customer wins and heightened industry recognition have strategically positioned Recondo Technology (Recondo) for significant market expansion in 2016.
Recondo, a leading provider of cloud-based revenue cycle connectivity and applications, predicts increased patient financial responsibility and changing reimbursement models will be among the market influences driving the company's growth in 2016. With Recondo's automated data intelligence solutions, the company expects more manual Patient Access and Business Office processes will be permanently replaced with Recondo's patented, highly accurate and fast automation solutions in the coming year.
"In 2015, providers were focused on adjusting to major changes in reimbursement," said Recondo CEO Jay Deady. "The new year brings our clients and prospective clients a new objective to break away from the competition and expand outside the walls of the hospital and connect more directly with patients as consumers, their referring community, and employers; in part, with technology that automates and supercharges the revenue cycle forward."
Key customer sales in 2015
Recondo's automated solutions leverage the company's patented Reconbot® technology, driving the revenue cycle to the next level by automatically querying payer websites and then retrieving, normalizing and presenting critical data on eligibility, authorization and claim status. Already in use at over 900 hospitals across the country, Recondo's revenue cycle solutions won a number of new customers over the past year, representing a diverse range of organizations by size, type and geographic location.
A partial list of new Recondo customer sites includes:
Industry recognition as "touchless RCM" technology innovator
Along with winning an increasing share of the healthcare revenue cycle management market, Recondo garnered industry praise for its patented ReconBot™ technology. In April 2015, Gartner awarded Recondo "Cool Vendor" recognition in its "Cool Vendors in Healthcare Providers 2015" report. Later in the year Recondo was ranked by Black Book as the No. 1 vendor for insurance and payer eligibility verification, and made the Top 10 in two additional Black Book categories, Denial Management/Third Party Recovery and Revenue Cycle Management Outsourcing: Standalone Hospital Managed Services under 150 beds.
"Recondo looks forward to welcoming more providers in 2016 to our unprecedentedly powerful 'touchless' technology and our family of RCM experts," added Deady. "And stay tuned—in addition to our current portfolio, we have a big surprise to announce very soon that will be of keen interest to anyone concerned with achieving price transparency in 2016."
About Recondo Technology
Recondo's cloud-based solutions deliver financial clarity to all participants within the healthcare revenue cycle. Named the No. 1 hottest company in healthcare by Modern Healthcare in 2013 and a Cool Vendor for Healthcare Providers 2015 by Gartner, Recondo empowers more than 900 hospitals and health systems with solutions that connect providers with over 90% of the nation's payers and their patients to ensure maximum and accelerated payments across the care continuum. The company's software and expertise streamline operations and achieve efficiencies and cost savings from patient access through claim status to payment processing—a continuum today where inaccuracy and inefficiencies currently cost U.S. healthcare a staggering $480 billion per year. Visit us at www.recondotech.com.
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SOURCE Recondo Technology
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