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Recondo Technology Closes Record Year – Strong Sales Momentum Continues Across Fiscal Year 2010

GREENWOOD VILLAGE, Colo. Feb. 3, 2011

http://photos.prnewswire.com/prnh/20090325/LA89162LOGO

Steven M. Johnson $5.46 million $46.1 million

Rick Adam

Authorization/Denial Prevention(Auth-DP)

Auth-DP is software as a service (SaaS) that 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.

Financial Assistance

Financial Assistance is Software as a Service (SaaS) that identifies all sources of patient payments, determines likelihood to qualify for Medicaid, automates evaluation and classification of presumptive charity, including propensity to pay, supports hospital-specific catastrophic write-offs, and provides patient discounts based on Federal Poverty Level percentage categories and tiered payment plans.

CORE Phase II Certification

Recondo also achieved Committee on Operating Rules for Information Exchange® (CORE®) Phase II Certification, after Recondo SurePayHealth successfully completed CORE Phase II Certification testing, a process ensuring that healthcare organizations can electronically exchange or access patient insurance information conforming to the CORE Phase II rules.

SAS 70 Security and Operations Certification

The independent auditor, Ernst & Young, issued an unqualified Statement on Auditing Standards No. 70 (SAS 70) based on its Type II audit of Recondo.  An "unqualified" auditor’s opinion for a SAS 70 Type II report indicates that the audited organization achieved all control objectives without a significant exception or deficiency. The SAS 70 standard is one of the most rigorous and thorough auditing standards for substantiating that a company’s security procedures and operational controls have been designed and tested, and are operating at maximum efficiency to protect client data in accordance with best demonstrated practices.

About Recondo Technology

$375 billion

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.

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.

Financial Assistance™ helps hospitals identify the most likely payment source for each patient, determine initial likelihood to qualify for Medicaid and offer state-specific Medicaid assessments and applications (for every state), and automate evaluation and classification of "presumptive" charity, including propensity to pay.

www.recondotech.com

SOURCE Recondo Technology

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