Recondo Technology develops software that brings efficiencies and cost savings to health care payment processing, which currently costs the medical industry a staggering $460 billion in annual expense.
In the US currently, health care spending is approximately $2.7 trillion, annually. The cost of getting paid is more than 17 percent, or about $460 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 $150 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 is helping hospitals move revenue cycle operations from after-the-fact back office to scheduling and registration, providing statement accuracy and pricing transparency to every patient, every time.
Recondo leads the industry in:
- Verifying patient identity
- Providing accurate and enriched patient eligibility information
- Presenting an accurate statement of patient financial responsibility prior to service
- Mining data from all the national and regional payers
- Managing the authorization process
- Preventing claims denials
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