Recondo to Demonstrate Authorization Automation and Price Transparency Solutions at NAHAM 2016
NEW ORLEANS – MAY 24, 2016 — Recondo Technology, a leading provider of cloud-based revenuecycle connectivity and applications, will demonstrate its market-leading solutions for price transparency,authorization automation and denial prevention at the 42 nd Annual National Association of Healthcare Access Management (NAHAM) Conference in New Orleans, today through May 27.
Recondo will demonstrate its new “provider-centric” tool for true healthcare price transparency, MySurePayHealth ™ , and its Auth-DP™ solution for automating the authorization of service.
Patient Access professionals at NAHAM can speak with Recondo clients who will be on-hand to share their health systems’ experience with the solutions and with Recondo’s full suite of “touchless” revenue
“We believe patient access professionals at NAHAM will be excited to learn that, with MySurePayHealth, patients no longer have to wonder what a service or procedure will cost them, and providers no longer have to wonder if patients are prepared to pay,” said Jay Deady, CEO of Recondo. “We’re also excited to share our years’ of success helping hospitals significantly reduce claim denials and write-offs through improved upfront verification.”
A true and accurate picture of patient’s out-of- pocket costs
MySurePayHealth has generated significant market interest as the first self-service, accurate pricing calculator that healthcare consumers can use to generate a true estimate of their out-of- pocket costs. Estimates are based on consumers’ current status of commercial, self-pay, or Medicare and Medicaid coverage, as well as the rates their providers’ have negotiated with payers. Consumers can access MySurePayHealth right from their provider’s website, inputting no more than a few data elements to generate an estimate, usually in under 45 seconds.
With the prevalence of high-deductible insurance plans skyrocketing, and almost a quarter of commercially insured Americans burdened with high hospital co-pays, MySurePayHealth helps to meet public and legislative demands for a clear understanding of healthcare costs before services are rendered.
Taking authorization management out of manual mode
Missing authorizations often account for significant portions of all payer-denied claims, and can result in a loss of 3-5 percent of a hospital’s net revenue. Hospitals can little afford to write off millions of dollars every year. Yet too many rely on staff to log into payer websites or place phone calls to address the Auth-DP takes authorization out of manual mode by automatically querying payer websites for authorization information by payer/patient/procedure. It quickly returns with authorization status, number and expiration date in a fraction of the time required for manual checking. Hundreds of hospitals across the country use Auth–DP to significantly reduce denials and write-offs; accelerate their cash flow; increase net revenue; optimize staff time; and improve patient satisfaction.
Both Auth-DP and MySurePayHealth are powered by Recondo’s patented ReconBot™ Web-mining and workflow automation technology to transform mined payer data into workflow triggers that significantly speed and improve patient access processes.
About Recondo Technology
Recondo empowers more than 900 hospitals and health systems with revenue cycle 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. Recondo’s patented software and provider-centric expertise streamline operations to achieve maximum efficiencies in patient access through claim status to payment processing. In a continuum today where inaccuracy and inefficiencies cost U.S. healthcare a staggering $480 billion per year, partnering with a trusted revenue cycle expert to get paid more, faster and at a lower cost has never been more necessary.