Recondo Technology

Description

• Recondo Technology Connects Providers, Payers, and Patients Across the Hospital Revenue CycleIn the US , annual healthcare spending is $2.7 trillion. The cost of getting paid is more than 17%, or about $460 billion. Compared to other industries, healthcare payment processing is extremely inefficient; e.g., retail settles payments for less than 2% of revenue, and financial services settles payments for less than 1%. If healthcare could settle payments for 10%, savings would exceed $150 billion.When a patient leaves the hospital without paying the patient portion, the chance of the hospital ever collecting plummets by 60%. McKinsey, 2010Incorrect eligibility data accounts for 30% of all denials. Advisory Board Co., 2011The Recondo Team pioneered straight-through processing on both Wall Street and other industries, eliminating manual intervention and streamlining transaction flow using sophisticated, powerful rules-based architecture. Recondo helps hospitals:Reduce bad debt by collecting patient responsibility at point-of-serviceReduce write-offs from missing, late, or incorrect insurance authorizationsLower costs by getting patient eligibility, claim status, and authorizations right the first time, every timeRecondo helps streamline the revenue cycle, moving operations up-front, reducing manual intervention, and delivering operational and financial benefits to hospitals across the United States.
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  Headquarters:7900 East Union Avenue , Denver, Colorado, United States

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  Phone Number: +1 303-974-2800

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  Website: https://www.recondotech.com

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  Employees:96

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  Revenue:$10 - 50M

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  Legal Name:Recondo Technology

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• |  NAICS Code: 541511  |

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