Recondo awarded U.S. Patent No. 8,943,565 for ReconBot® Technology
Greenwood Village, CO — June 1, 2016 — Recondo Technology, the leading provider of cloud-based revenue cycle connectivity and applications, today announced the U.S. Patent and Trademark Office has awarded the company Patent No. 8,943,565 for its Recondo Bot technology, the ReconBot®. This patented technology is at the core of Recondo’s patient resolution cloud platform that enables Recondo clients to receive enriched actionable data from over 850 healthcare payers, resulting in higher rates of “touchless” claims, reduced manual follow-up time and accelerated cash flow.
“Recondo’s newly patented ReconBot® technology reflects years of hard work by Recondo’s world-class technology development organization, excellent product input from our clients, and the benefit of the investment in the strongest cloud-based revenue cycle platform in the industry,” said Jay Deady, Recondo’s Chief Executive Officer. “The intellectual property protected by this patent plays a crucial role in Recondo’s ability to deliver significantly richer and more actionable data than found in the standard EDI transaction sets. It enables Recondo’s cloud-based platform to scale and empower some of the largest health systems in the country.”
Recondo’s Platform as a Service (PaaS) leverages this patented technology in both the patient access front-end and business office environments. Front-end business processes that empower real-time pre-service patient interactions covering eligibility, medical necessity, patient out-of-pocket financial responsibility calculation and collection, prior authorization necessity and status, all leverage Recondo’s ReconBot® technology. The business office processes dealing with the automated status of insurance claim processing as well as actionable information and workflow required to remediate denied or problem claims, are also enabled by Recondo’s patented technology.
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. The company’s patented software and expertise streamline operations and allow providers to be paid more, faster, and at a cheaper cost. Recondo brings efficiencies and cost savings to patient access through to payment processing—a continuum today where inaccuracy and inefficiencies currently cost U.S. healthcare a staggering $480 billion per year.
Amendola Communications for Recondo Technology