Magazine Store

30 Ethical Companies of the Year 2019

RecondoTechnology: Leverages AI to Help you Achieve Sustainable Financial Performance While Delivering a Better Patient Experience

thesiliconreview-jay-deady-ceo-recondo-technology-19“Recondo’s mission is to help providers achieve sustainable financial performance while delivering a better patient experience.”

Healthcare is a shared human experience that’s ultimately about caring for people. Whether it’s people in our communities or the people who devote their careers to the industry. Delivering quality care while maintaining sustainable financial performance is difficult, especially amid increasing complexity, rising costs, shrinking labor markets, and increasing consumerism. Those consumers are struggling too. Financial uncertainty can be just as stressful as health uncertainty. Rising deductibles are shifting greater financial responsibility to people, and many struggle to pay their medical bills.

Selecting a revenue cycle management partner that understands this delicate balance is critical. Automation should enable providers to manage business operations more efficiently, allowing for more meaningful time with patients.

In view of the above-mentioned, scenario, we’re thrilled to present Recondo Technology.

Recondo provides cloud-based software and services that streamline workflow in the healthcare industry. It offers a suite of EmpoweredPatientAccess solutions for registration quality, eligibility verification, authorization, and patient estimation applications; EmpoweredBusinessOffice solutions for actionable claims status, follow-up automation, revenue forecasting analysis, and electronic claims management applications; MySurePayHealth that addresses common concerns with price estimation by enabling patients to self-generate accurate out-of-pocket expense estimates; and a suite of EmpoweredTechnology solutions that facilitates payor data resolution, payor connectivity, hospital information systems integration, and reporting and analytics features.

The company offers solutions that connect providers with payers and their patients to ensure payments across the care continuum. It serves specialty providers, radiology service providers, imaging centers, ambulatory surgical centers, integrated delivery networks, and hospitals in the United States.

Recondo was incorporated in 2006 and is headquartered in Greenwood Village, Colorado.

RecondoTechnology: Synopsis

An AI-enabled Logic Engine

Recondo firmly believes that data without direction serves no purpose. Using AI and a logic engine of a vast catalogue of workflow automation rules drives productivity and performance across your organization.

Rules & logic: Access millions of benefit, authorization, and estimation accuracy rule sets and logic to ensure you’re using the best data sets and calling the right benefits.

Credential management: Credential Manager keeps track of your users’ credentials and automatically updates passwords, making accessing payer data both efficient and safe.

Data normalization: Recondonormalizes content across hundreds of commercial and government plans, including text-based information to create consistency and drive actions.

HIS Integration: Recondo’ssuite of APIs, web services, EDI, batch, HL7 and ReconBots® are driving workflow within numerous systems today, including Epic, Cerner, Meditech, and Allscripts.

Intelligent alerting: Recondoorchestrates your workflow by alerting users and suggesting the next step to take on an account within its application or your health information system (Epic-only).

Machine Learning & AI: ML and AI neural networks discover and predict more accurate coverages, rules, and actionable content than standard data integrations.

ReconBots: Sometimes more accurate coverage information is on the payer’s website rather than standard EDI. ReconBots® retrieve the most accurate benefit information using robotic process automation.

How the Logic Engine Works

The company’s patented robotic process automation (RPA) technology offers connectivity directly to payer websites, enabling patient access and business office staff to be more efficient while its ReconBots® retrieve the latest payer data on eligibility, authorization and claims. This key technology enables Recondo’s solutions to deliver rich, web-sourced data that fills in the gaps left by EDI. Highly scalable and secure, the company’s ReconBot® technology can connect with virtually unlimited payers and plans simultaneously.

Jay Deady, CEO: A Brief Background

Jay has been a leader, product visionary, and innovator in healthcare information technology for more than 25 years. He most recently served as CEO of Awarepoint, where he grew the company into the leading technology provider in the caregiver and patient asset-flow and capacity-management market. Previously, Jay was Executive Vice President of client solutions for Eclipsys (now Allscripts) where he drove the company’s global go-to-market and solution delivery strategies. He also served as Senior Vice President and General Manager of revenue cycle at McKesson Provider Technologies and held management positions with Cerner Corporation and ADAC Healthcare.

Jay holds a Bachelor of Arts from Tufts University and is a graduate of the Global Executive Management program of the Wharton School of Business at the University of Pennsylvania.

“Recondo partners with more than 4,500 provider organizations ranging from large Integrated Delivery Networks, regional and community hospitals, and large specialty practices including radiology and imaging.”