About Recondo Technology
Recondo Technology develops software that brings efficiencies and cost savings to health care payment processing, which currently costs the medical industry a staggering $300 billion in annual expense.
In the US currently, health care spending is approximately $1.9 trillion, annually. The cost of getting paid is more than 15 percent, or about $300 billion, annually. Compared to other industry segments, health care payment processing remains extremely inefficient; for example, the retail segment settles payments for less than two percent of revenue, and financial services settles payments for less than one percent. If health care could settle payments even for 10 percent of revenue, savings would exceed $100 billion.
Recondo is positioned to become a leader in the emerging Consumer Directed Health Care model of US health care. Combining sufficient capital, seasoned and successful leadership, and development of superior technology, Recondo will help lead the US health care payment system from impossibly slow payer models to an immediately collectible payer model, reducing extended and redundant payment request cycles and the resulting crippling bad debt.
Recondo leads the industry in verifying patient information, financially approving and clearing patients, predicting payment accurately, and automating the /Medicaid/charity approval process.
Recondo offers providers:
- Real-time access to information that ensures payment sources for services are properly identified prior to, during, and after care delivery
- Statement processing that handles approximately 300 million patient documents annually for healthcare providers throughout the country