MUNCIE, Ind.--(BUSINESS WIRE)--Ontario Systems, a leading software provider to the healthcare revenue cycle management (RCM), accounts receivable management (ARM) and government (GOV) markets, has announced a new partnership with Recondo Technology to provide cloud-based revenue cycle solutions to its healthcare provider customers.
Under the agreement, the exception-based segmentation of Ontario Systems Artiva HC™ technology will be enhanced with Recondo’s patented ReconBot® web bot technology to help healthcare finance leaders benefit from automated claim status follow-up and its inherent increases in efficiency, accuracy and reimbursement outcomes.
“Through intelligent segmentation of the provider’s claim volume, we’ve seen 80 percent of claims managed by this process come to resolution with just a single automated claim status transaction,” says Shawn Yates, Ontario Systems Director of Healthcare Product Management. “That’s a huge labor savings, freeing healthcare providers to focus on more strategic revenue cycle opportunities than simply calling insurance companies, or checking their websites. By partnering with Recondo, our customers can focus their business office staffs’ efforts on positive yielding activities for an organization versus repetitive non-productive touches."
Recondo Technology focuses on radically transforming the healthcare revenue cycle process by empowering clients with innovative end-to-end cloud-based software and services that streamline workflow and create unprecedented efficiencies through automation. The company’s technology “intelligently” requests information on every aspect of claims and remittance, using ReconBots to retrieve answers as soon as payers post them to their websites. Recondo’s ClaimStatusPlus™ solution eliminates manual intervention on up to 70 percent of claims.
“The average hospital processes tens of thousands of claims a month without knowing ahead of time which claims will go through smoothly and which will require further work,” says Recondo CEO Jay Deady. “This partnership will ensure that Ontario Systems’ client staff no longer need to spend their days logging onto individual payer websites or calling payers to see if claim status data has been posted yet. Automating the process effectively removes approved claims from the work queue, eliminating non-productive touches, and aligning the best resource for the remediation that is required so the entire process is significantly streamlined and enables a more productive staff to accelerate payments to their organization.”
“Our customers excel at deploying innovative solutions to healthcare’s biggest and most common financial challenges,” says Ontario Systems Senior Director of Business Development, Steve Scibetta. “That’s why we continue to partner with market leaders like Recondo who enable us to enhance our technology in a way that brings new fuel to healthcare provider missions across the country.”
About Recondo Technology
Recondo's cloud-based solutions deliver accelerated, accurate, and actionable financial clarity to all participants within the healthcare revenue cycle. Recondo empowers more than 900 hospitals with solutions that connect providers, payers and patients to ensure proper payments across the care continuum. The company's patented 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.
About Ontario Systems
Ontario Systems, LLC is a leading provider of revenue recovery software and solutions to the revenue cycle management (RCM), accounts receivable management (ARM), and government markets. Established in 1980 and headquartered in Muncie, Ind., Ontario Systems also has a location in Vancouver, Wash., and employees in 27 states. Ontario Systems offers a full portfolio of software, services and business process expertise, including product brands such as Artiva RM™, Artiva HCx™, Contact Savvy®, and RevQ. Ontario Systems customers include five of the 15 largest hospital networks who actively manage over $40 billion in receivables collectively, as well as eight of the 10 largest ARM companies and more than one hundred state and municipal governments in the U.S.