Recondo Technology Revenue and Competitors

Recondo Technology Connects Providers, Payers, and Patients Across the Hospital Revenue Cycle Annual healthcare spending is $2.7 trillion in the United States. 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, 2010 Incorrect eligibility data accounts for 30% of all denials. Advisory Board Co., 2011 The 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-service Reduce write-offs from missing, late, or incorrect insurance authorizations Lower costs by getting patient eligibility, claim status, and authorizations right the first time, every time Recondo is focused on radically transforming healthcare revenue cycle processes by empowering our clients with innovative end-to-end cloud-based software and services that streamline workflow and create unprecedented efficiencies through automation.

keywords:Enterprise Software,Finance,Health It,Healthcare,Payments