GREENWOOD VILLAGE, Colo., April 9, 2015 /PRNewswire/ -- Recondo Technology, the leading provider of cloud-based revenue cycle connectivity and applications, today announced it has been named a "Cool Vendor" in the Gartner "Cool Vendors in Healthcare Providers, 2015" report, published April 3, 2015.
Recondo is one of five companies profiled in the report, which recognizes technologies that offer CIOs, CMIOs and other healthcare IT leaders an innovative way to respond to the rapidly evolving healthcare environment.
Gartner is widely recognized as one of the world's leading information technology research and advisory companies. According to the report, "Globally, healthcare is facing extreme transformation. Strategies to lower cost, increase quality and keep populations healthy dominate agendas and drive IT investments. ... Cool Vendors remind CIOs and the market that there is ample opportunity and a healthy need for solutions beyond those provided by the megasuite vendors."
Recondo Chief Executive Officer Jay Deady commented, "We appreciate being recognized by Gartner. Our innovative and cool technology is driving outstanding results for our clients. We believe our recognition as a Gartner 'Cool Vendor' validates our strong position within the patient access and revenue cycle market. With value-based care and consumer demand for price transparency driving rapid change in the industry, hospitals need proven solutions to help them optimize their revenue and lower costs by driving as high a percentage of 'touchless' end-to-end revenue cycle processing as possible. Recondo equips hospitals with a scalable cloud-based platform designed to accomplish that."
Recondo's patented ReconBot® technology streamlines and optimizes both the patient access and back-office environments for more than 900 U.S. hospitals, including some of the nation's largest integrated delivery networks. The Web mining and workflow automation technology transforms mined payer data into workflow triggers that significantly speed and improve patient access and business office processes.
For hospital admissions staff, Recondo's cloud-based platform streamlines pre-service patient interactions by providing real-time eligibility determinations, medical necessity checking, prior authorization necessity and status, and by accurately calculating patient out-of-pocket financial responsibility. Recondo also automates business office processes dealing with the status of insurance claim processing as well as provides actionable information and the appropriate workflow triggers to remediate denied or problem claims. As a result, Recondo reduces the number of claims requiring human follow-up by up to 80 percent, which lets staff focus on exceptions only, lowering resource costs while speeding payment.
To view the "Cool Vendors in Healthcare Providers, 2015" report, visit www.gartner.com.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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 900 hospitals and health systems with solutions that connect providers with over 90 percent of the nation's payers and their patients to ensure proper and accelerated payments across the care continuum. The company's software and expertise streamline operations and achieve efficiencies and cost savings from patient access through claim status to payment processing—a continuum today where inaccuracy and inefficiencies currently cost U.S. healthcare a staggering $480 billion per year. Visit us at www.recondotech.com.