Recondo Auth-DP Service Helps Manage Insurance Plan Authorizations and Reduces Denials
GREENWOOD VILLAGE, Colo., March 25 /PRNewswire/ -- Recondo Technology, a leading provider of revenue cycle solutions for the healthcare industry, today announced the release schedule of Auth-DP, the firm's authorization and denial prevention product for hospitals. Missing authorizations and subsequent denials can account for more than 15 percent of all payer-denied claims, and can result in a loss of 3 percent to 5 percent of a hospital's net revenue.
Recondo Authorization-Denial Prevention (Auth-DP), allows hospital staff to identify required payer authorizations prior to service, ensuring that the hospital provides service only with the correct, approved authorization in place. Missing or incorrect authorization information causes hospitals to write off millions of dollars every year. For many hospitals, claim denials represent the greatest financial challenge across the revenue cycle.
"As we talk to hospitals around the country, we continue to hear their desire for a solid technology solution to the authorization and denial prevention problem," said Victor Marcinik, Recondo Vice President of Product Management. "By reducing authorization denials, hospital CEOs and CFOs can increase revenues and reduce write-offs that result from denied claims, directly stemming from a missing insurance plan authorization."
Auth-DP joins the firm's initial software service, SurePayHealth and Eligibility Plus, as the latest Software as a Service (SaaS) offerings deployable via a browser and architected on a high-speed, high-volume, rules processing platform. Auth-DP will be released in the third quarter 2009, and will require no additional hardware or installed software. Recondo will release Auth-DP pricing in the near future.
About Recondo Technology
Recondo Technology develops Software as a Service (SaaS) that brings efficiencies and cost savings to health care payment processing, which currently costs the medical industry a staggering $360 billion in annual expense. The company's first service, SurePayHealth, performs real-time calculations of patient financial responsibility at scheduling or Point-of-Service. SurePayHealth can increase hospital revenue by millions of dollars per year.
|SOURCE Recondo Technology|
Copyright©2009 PR Newswire.
All rights reserved