ORLANDO, Fla., June 26, 2017 /PRNewswire/ -- Hospitals seeking to increase revenue and market share while reducing denials are invited to meet Recondo Technology, the market leader in cloud-based single-platform revenue cycle management solutions, at HFMA's ANI conference, Booth #1017. The company will be featuring its automated revenue cycle management solutions, including AuthInitiate, Recondo's authorization tool that initiates authorization requests to payers at unprecedented speed and volume.
"Hospitals reside in an increasingly competitive landscape where there is precious little margin left to keep managing the revenue cycle with outdated tools, spreadsheets and lots of manual rework. We're looking forward to showing HFMA ANI attendees how to lead the industry in boosting their revenue, beginning with patient access and pre-service automation," said Jay Deady, Recondo Technology CEO.
Patient volumes and ever-changing payer rule complexities make it difficult for providers to keep up and keep their bottom line from suffering. Automation has emerged as the only real way to maintain revenue integrity.
To that end, AuthInitiate is the latest addition to Recondo's innovative Revenue Cycle platform. The company is already well known for the Authorization--Denial Prevention (Auth-DP) solution; the first automated authorization solution on the market and still the leader in end-to-end authorization management.
Why St. Francis Hospital is opting to automate authorizations requests
More hospitals now routinely take on the responsibility of obtaining prior authorizations from payers on behalf of both employed and non-employed physicians. However, they need a scalable way to do so, as manually the process is cumbersome and labor-intensive. Yet it is a responsibility hospitals have good reason to take on—if they can find a way to automate it.
"Hospitals must find inventive ways to compete with the increase of independent facilities such as imaging and treatment centers. One of the most clear-cut is to make working with us an easy, convenient experience for physicians who could just as well work only with the independent facilities," observed Linda Glass, Director of Patient Access Services at St. Francis Hospital.
Glass added, "With a solution like Recondo's AuthInitiate, we can easily obtain pre-certs for physicians, saving their staff and our own considerable time and work."
For large multi-facility IDNs, manually obtaining prior authorizations can require delegating up to hundreds of employees, or writing significant outsourcing checks. Now they no longer have to. Recondo's patented ReconBots™, embedded in the AuthInitiate solution, log in to the payer's website on behalf of the provider and request these authorizations. Additional technology within the solution auto-populates patient data, drawing on the industry's most robust authorization rules library of over 700,000 rules, which are continuously curated and expanded.
Given the pace at which payers introduce and revise authorization requirements and rules, this particularly eliminates the manual burden and expense of authorization content management. Now staff need only answer clinical questions. With at least half of the authorization request completed via automation, hospitals can exponentially increase the amount done per hour, with far fewer staff.
"We're looking forward to the new ease this will bring to the whole prior authorization process, for staff and physicians alike. We expect this is going to be a very effective marketing strategy for us," Glass said.
For a scheduled demo of AuthInitiate, call 1-888.732.6672 or self-schedule a time here. "Walk-ins" to Booth 1017 are also welcome.
About Recondo Technology
Recondo's cloud-based solutions deliver financial clarity to all participants within the healthcare revenue cycle. Named the No. 1 hottest company in healthcare by Modern Healthcare in 2013, Recondo empowers more than 850 hospitals with solutions that connect providers, payers and patients to ensure proper payments across the care continuum. The company's 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. Learn more at www.recondotech.com.
Amendola Communications for Recondo
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SOURCE Recondo Technology