GREENWOOD VILLAGE, Colo., Feb. 7, 2012 /PRNewswire/ -- Recondo Technology, a leading provider of revenue cycle solutions for the healthcare industry, announced today that Recondo has acquired Trilogi, Inc., a leading revenue cycle management and recovery firm with offices in Lakeland, Florida, and Dallas, Texas. Specific terms of the agreement were not announced.
Recondo plans to integrate software services with Trilogi® workflow and processes to streamline the Trilogi best demonstrated practices of revenue recovery. The acquisition is accretive to Recondo by increasing the combined customer base and by creating two approaches to revenue recovery, one based on technology and one based on Business Process Outsourcing (BPO) services, including:
"We are very pleased to combine with Trilogi and be able to offer our client hospitals a broader array of products and services," said Rick Adam, Recondo Founder and CEO. "Trilogi is a leader and innovator in hospital revenue recovery services and Recondo likewise on the technology front. Together we offer our customers unrivaled value."
"Trilogi has long since been delivering unparalleled service solutions to our hospital clients, and I feel that combining the technology power of Recondo with our expertise will allow us to continue to lead the Healthcare Receivables industry. Recondo Technology has been a company I have admired over the years, and I'm thrilled that we are combining our forces in order to create innovative and cutting-edge solutions for our clients," said April Kooiman, Trilogi Co-Founder and President.
About Recondo Technology
Recondo Technology delivers powerful software services connecting patients, providers, and payers across the spectrum of US healthcare. Recondo services bring efficiencies and cost savings to healthcare payment processing, which currently costs US healthcare a staggering $425 billion in annual expense. Recondo services automate the revenue cycle and payment cycle, from pre-scheduling to adjudication, with virtually no manual intervention.
Recondo/Trilogi Revenue Recovery Services help hospitals recover lost revenue from payer denials, offering both a technology-based solution and Business Process Outsourcing (BPO). Recondo/Trilogi delivers superior revenue recovery results to hospitals across the United States.
Authorization/Denial Prevention (Auth-DP™) increases cash flow by reducing a hospital's costly payer denials. Auth-DP identifies precertification requirements and authorization at the front of the revenue cycle, increasing authorization coverage and reducing denials by as much as 75 percent.
SurePayHealth® offers an accurate statement of patient financial responsibility at Point of Service, verifying patient identity, eligibility, and benefits, and accurately calculating the patient fee. After activating SurePayHealth, hospitals increase cash collections by tens of thousands of dollars every month.
EligibilityPlus™ gives hospitals the most complete view of government and commercial insurance benefits available in the industry. With a complete understanding of insurance benefits, hospitals immediately identify specific coverage, simplify patient registration workflows, reduce claim rework, and assess patient liability.
ClaimStatusPlus™ automates the process of retrieving the status of open claims, and allows hospital staff to segment claims conforming to the specific process adopted by each hospital, then work each claim by various priority standards. Claim Status significantly reduces the time and effort to identify, track, and process claims.
Recondo, SurePayHealth, ReconBot, Recondo Financial Medical Record, Trilogi, and Powered by Recondo are registered trademarks of Recondo Technology. EligibilityPlus, Auth-DP, ClaimStatusPlus, Omni278, Financial Assistance, AllPayHealth, and Patient Resource Management are trademarks of Recondo Technology. All other trademarks and registered trademarks are the property of the respective trademark holders.
SOURCE Recondo Technology