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SOURCE Recondo Technology
- Automated Claims Workflow Software Improves Hospital Cash Collections and Reduces A/R Days
GREENWOOD VILLAGE, Colo., Feb. 4, 2014 /PRNewswire/ -- Recondo Technology and Prodigo Revenue Cycle Services (ProdigoRCS), part of world-renowned health system UPMC, located in Pittsburgh, Pennsylvania, today announced the release and general availability of Empowered Business Office™ (EBO) Claims Workflow software, a highly automated payer claims follow-up application that helps hospitals clear most claims with "no touch" software functionality, realize significant financial improvements, and increase revenue cycle efficiency.
Recondo has licensed EBO from Prodigo, which has helped UPMC and other healthcare customers to increase operational efficiency and reduce Accounts Receivable (A/R) days, bad debt, denials, and the labor necessary to manage claims workflow manually.
"EBO Claims Workflow assists UPMC in knowing which claims require manual, value-added staff intervention versus the ones that do not. Those claims that do require review are analyzed much earlier in the revenue cycle process, which gives staff a significant head start on resolving claim denials prior to the remittance, accelerating cash flow," said April Langford, President and CEO of ProdigoRCS. "Using this software has helped UPMC realize a 61 percent reduction of A/R days, a 73 percent reduction in write-offs, an 85 percent reduction in denials, and a striking 138 percent improvement in revenue-per-FTE (Full Time Equivalent)."
"Automating claims workflow is increasingly important in today's rapidly evolving healthcare landscape," said Lori Prestesater, Recondo Chief Growth Officer. "Hospitals must do more with less, even with the accelerating pressure to streamline efficiencies and maximize revenue cycle profitability. EBO helps hospitals increase staff productivity and clear most claims with "no touch" technology, allowing staff to address only those claims that require specialized intervention. EBO offers significant value to any hospital's claims workflow."
EBO gives hospitals increased oversight and insight into the denial management and the A/R resolution process. Hospital leaders have a daily snapshot worklist of total claim inventory, including problem claims that require immediate and personal attention, and the worklist includes only claims requiring manual intervention. EBO helps hospitals streamline revenue cycle operations to address increasingly complex claims problems.
About Recondo Technology
Recondo solutions achieve financial clarity for all participants within the healthcare revenue cycle. The result is a closer relationship with payers, a better healthcare experience for patients, and a confident and motivated staff that sees their value manifested in superior healthcare service. Recondo combines sophisticated rules architectures, legacy integration, and data mining to provide true interoperability for more than 850 US hospitals and more than 500 payers. This new world of healthcare is Empowered by Recondo.
Visit Recondo Technology at www.recondotech.com.
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