Greenwood Village, Colorado. November 14, 2012 — Recondo Technology today announced it ranked No. Nine on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Recondo grew 25,482 percent during this period.
Recondo Technology chief executive officer, Rick Adam, credits our accomplishments in streamlining the healthcare payments cycle with the company's 25,482% revenue growth. He said, "In five years, Recondo has reached goals that typically take ten years to achieve in the healthcare industry. We help providers understand the rules and connect with payers in unique ways to facilitate prompt and proper payments."
"We are proud to honor the 2012 Technology Fast 500™ companies, and commend them for their outstanding growth," said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications (TMT) leader. "These ground-breaking companies have outpaced their competition and are reinventing the way we do business today."
"The companies on the Fast 500 list are among those that have demonstrated remarkable innovation, creativity and business savvy," said Bill Ribaudo partner, Deloitte & Touche LLP and national TMT leader for audit and enterprise risk services (AERS). "As a result, these companies have continued to successfully forge ahead in a challenging economic environment. We applaud the leadership and employees of Recondo Technology for this impressive accomplishment."
Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2007 to 2011.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
Recondo connects providers, payers, and patients using breakthrough cloud computing solutions throughout the healthcare revenue cycle. Recondo software services are designed to ensure Proper Payments across the continuum of US healthcare. Recondo brings efficiencies and cost savings to healthcare payment processing, which currently costs US healthcare a staggering $460 billion in annual expense.
Recondo helps hospitals streamline the revenue cycle by moving operations up-front, reducing manual intervention, and delivering operational and financial benefits. Recondo combines sophisticated rules architectures and legacy integration and data mining to provide true interoperability for more than 450 US hospital customers.
The Recondo family of software services bridges patient access and the business office:
Recondo technology is delivered as Software as a Service (SaaS), requiring no capital budget and no additional hardware or software installation. Recondo services are developed using high-speed, high-volume, rules-based architectures, giving hospitals unmatched and immediate access to real-time data.
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