Company now has the broadest revenue cycle management suite available in the market to have received HFMA Peer Review.
Denver, CO — June 21, 2018 — In the latest demonstration that Recondo Technology is the innovation leader in the healthcare revenue cycle management software industry, a number of the company’s solutions have been peer reviewed by the Healthcare Financial Management Association (HFMA). This includes Recondo’s automated solutions for obtaining prior authorizations from healthcare insurers and early retrieval of actionable claim status; the first ever such solutions to achieve HFMA peer review status.
Recent customer studies show returns in the millions from revenue cycle automation, with Avera Health achieving a $2 million reduction in aged A/R accounts within 18 months, and the Queens Medical Center improving cash flow by $5 million within 12 months.
“I speak for everyone at Recondo Technology when I express our gratitude to HFMA and our customers for such a distinction. HFMA is one of the most well-respected trade organizations in healthcare, and passing its scrutiny means a great deal to us. We look forward to continue working with HFMA members to leverage automation to return their skyrocketing denials and labor costs back to reality,” stated Jay Deady, Recondo Technology CEO.
The following four products in Recondo’s revenue cycle automation software portfolio have garnered the coveted HFMA Peer Review status:
- Auth-DPTM, Recondo’s automated authorization suite. Now the only HFMA peer reviewed automated authorization software.
- ClaimStatusPlusTM, which automates the process of obtaining approved/denied status of claims, and auto-routing the answers into the provider’s system and workflow of choice. It is now the only HFMA peer reviewed software for automated claim status.
- EligibilityPlusTM, which automates the process of determining a patient’s available insurance coverage for services. Previously peer reviewed by HFMA, this status was renewed.
- SurePayHealthTM, the solution that accurately estimates a patient’s portion of costs based on the patient’s real time levels of insurance coverage. Its peer reviewed status was also renewed by HFMA.
HFMA’s Peer Review process provides healthcare financial managers with an objective, third-party evaluation of business solutions used in the healthcare workplace. The rigorous, 11-step process includes a Peer Review panel of current customers, prospects who have not made a purchase, and industry experts. The HFMA peer review status of a healthcare business solution and its performance are based on effectiveness, quality and usability, price, value, and customer and technical support.
“We’re pleased to have Recondo Technology achieve their HFMA Peer Reviewed designation,” said HFMA President and CEO Joseph J. Fifer, FHFMA, CPA. “The HFMA Peer Review process assures our members, through a rigorous evaluation, that the reviewed healthcare business solution meets an objective, third-party assessment of overall effectiveness, quality, and value.”
The recognition from HFMA follows another prized industry accolade, with Recondo Technology named as 2018 Best in KLAS for Patient Access software and services.
With more than 38,000 members, the Healthcare Financial Management Association (HFMA) is the nation’s premier membership organization for healthcare finance leaders. HFMA builds and supports coalitions with other healthcare associations and industry groups to achieve consensus on solutions for the challenges the U.S. healthcare system faces today. Working with a broad cross-section of stakeholders, HFMA identifies gaps throughout the healthcare delivery system and bridges them through the establishment and sharing of knowledge and best practices. Their mission is to lead the financial management of health care.
About Recondo Technology
Recondo’s cloud-based solutions deliver industry leading automated, accurate, and actionable financial clarity to all participants within the healthcare revenue cycle. Recognized by Black Book Research as one of the top three leaders in revenue cycle management software, Recondo empowers more than 900 hospitals with solutions that connect providers, payers, and patients to ensure proper payments across the care continuum.
Amendola Communications for Recondo Technology