Tuesday February 21, 2017 0 comments
DENVER -- Recondo Technology, a market leader in cloud-based single-platform revenue cycle management (RCM) solutions, today announced the release of a suite of application programming interfaces (APIs) to significantly streamline payment, improve patient satisfaction and simplify technology innovation.
Adding to its award-winning RCM technology platform, the company said its Recondo Revenue Cycle API drives enriched, accurate and actionable payer information directly into a healthcare organization's existing workflow solutions for prior authorizations, patient eligibility, medical necessity, pre-service patient collection and related RCM processes.
RCM professionals no longer need to rely on incomplete or nonexistent EDI data or to switch between multiple IT systems to get the answers they need to mitigate revenue leakage and increase patient collections, the company said.
"Getting the right information from payers at the right time to drive the right actions is more critical than ever in today's revenue cycle market," said Jay Deady, Recondo CEO.
"With declining reimbursement and higher patient debt, providers need every incremental lift they can get. The challenge is driving that efficiency into the provider's network of revenue cycle systems, staff, service providers, and patients.
“Now, with the Recondo Revenue Cycle API, organizations can feed payer intelligence into almost any system they already use, as part of nearly any workflow."
By bringing REST frameworks for developing web services and projects to the revenue cycle, Recondo said its innovative new API layer also accelerates the pace of innovation in healthcare RCM, creating an ecosystem of collaboration that makes it far easier to build new integrated products and create breakthrough patient financial experiences.
The technology amplifies and scales the company's rich payer data and actionable intelligence for revenue cycle solution vendors, health system IT teams and business process outsourcers that want to build new applications on top of Recondo's platform.
Recondo's foundational RCM intelligence platform is powered by the company's patented Reconbot web bot technology plus robust rules-based engines that leverage machine learning to query payer websites, gather remits and other critical encounter information, and then present the answers in a fraction of the time it takes to do so manually -- and with far more detail and accuracy.
"The Recondo API suite represents a truly new 'ecosystem' for those seeking to quickly innovate, especially with the aim to visibly improve efficiency and revenue flow by driving our data and intelligence into frontline workflow systems," said Andrew Vranesic, Recondo VP of product. "We're excited about the innovation that is possible in this market, and we want to help accelerate it."
Recondo solutions offer a comprehensive automation strategy for handling large volumes of patient revenue-related transactions, including:
- Claim status confirmation
- Prior authorization
- Price estimates
- Patient eligibility/benefit verification
Named the No. 1 hottest company in healthcare by Modern Healthcare in 2013, Recondo empowers more than 900 hospitals with solutions that connect providers, payers and patients to ensure proper payments across the care continuum.