As the health insurance marketplace becomes increasingly complex with customized benefit plans, higher patient out-of-pocket costs, and complex authorization requirements, hospitals must adopt new technologies and practices just to keep pace. Employing Extended Business Office (EBO), hospitals can keep pace and achieve significant Revenue Cycle Management gains such as fewer denials, shorter A/R days, reduced patient and payer collection costs, while lowering administrative cost.
Extended Business Office (EBO) brings together advanced technology and skilled people to provide services that streamline your business office and revenue cycle. These people and processes can perform eligibility verification, POS collections, payer authorization submissions, authorization status verification, claim status verification, and other critical RCM activities.
Recondo has developed sophisticated software services to help hospitals streamline revenue cycle operations. These services provide an accurate statement of patient financial responsibility, allow hospitals to collect the exact patient portion, work with the most complete view of insurance benefits available in the industry, track authorizations to ensure that every authorization is in place to eliminate insurance denials, and automatically manage all your charity and Medicaid care. These services allow you to move operations to the front of the revenue cycle, reducing staff cost and denials, increasing cash collections, and conforming charity care to the community and IRS guidelines.
Hospitals that meet today's Revenue Cycle Management (RCM) challenges give themselves a competitive advantage. Achieving RCM improvements can be a slow process; overworked and under- trained staff must maintain what's working, while learning and implementing the tools and processes that deliver improved RCM performance. Instead of your staff learning to implement and operate these next-generation RCM tools, Recondo can implement these tools on your behalf. Recondo becomes an extension of your business office in critical RCM activities of eligibility verification, authorization management, patient collection, payer payment accuracy, and ultimately A/R and administrative cost reduction.
Recondo Technology has emerged as a leading provider of software solutions to revolutionize and streamline Revenue Cycle Management in US hospitals. With expertise in systems, people, and processes for patient collections, managed care underpayments, eligibility and authorization verification, claims status, and denial management, Recondo leverages its advanced technology platform to increase patient and insurance collections, reduce claim denials, and confirm status and provide follow-up of submitted insurance claims.
EBO services can be performed at your site, or ours, or a mix of on-site and off-site services. Additionally, Recondo has built tools, created processes, and hired skilled staff to evaluate the workflow and readiness of any hospital to move operations from the back office to the front of the revenue cycle.