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About SurePayHealth™ Payment Processing

Staff Reporters

Consumer-driven health care [CDHC], high-deductible health plans [HDHPs], medical and health savings accounts [MSAs/HSAs] are changing the rules of revenue cycle management for medical practices, clinics, retail facilities and hospitals. In fact, compared to other industry segments, health care payment processing remains extremely inefficient; for example, the retail segment settles payments for less than two percent of revenue, and financial services settles payments for less than one percent. Some health economists even estimate that if health care could settle payments even for 10 percent of revenue, savings would exceed $100 billion.

Graphs: http://www.recondotech.com/pdf/HSA-AHIP-January-2008.pdf

About Recondo Technolgy

According to the website, Recondo Technology was formed by a veteran team of experienced software developers with a singular goal: to build tools that help hospitals, offices and medical clinics accelerate patient payments and streamline claims to payers; especially in the emerging Consumer Directed Health Care model of US health care.

Product Offerings

Recondo is an early pioneer in verifying patient information, financially approving and clearing patients, predicting payment accurately, and automating the Medicaid/charity approval process. Recondo offers: 

· Real-time access to information that ensures payment sources for services are properly identified prior to, during, and after care delivery.

· Statement processing that handles approximately 300 million patient documents annually for healthcare providers throughout the country. 

Link: http://www.recondotech.com

Assessment

Accelerating the healthcare cash conversion cycle is a desirable business goal, especially if collection occurs at the point-of-contact. Nevertheless, all medical professionals should realize that their guiding principle should always be: Omnia pro Aegroto [all for the patient].   

Conclusion

And so, your thoughts and comments on this Medical Executive-Post are appreciated; especially from our retail and concierge medical practitioners and subscribers.

Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com  or Bio: www.stpub.com/pubs/authors/MARCINKO.htm

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Filed under: "Doctors Only", Accounting, Healthcare Finance, Information Technology, Practice Management | Tagged: CDHC, concierge medicine, HDHPs, HSAs, MSAs, Redondo Technology, SurePayHealth |