Recondo Technology provides cloud-based revenue cycle management solutions that automatically query payer websites, retrieve, normalize and present actionable, workflow-contextual information for patient access and claims follow-up. Its product suite includes EmpoweredPatientAccess™ tools for same-day patient financial estimates and EmpoweredBusinessOffice™ tools for detailed claim adjudication and automated management of large claim volumes. The company plans to use the new funding to support product development in API-enabled revenue cycle content, expanded claims statusing, and authorization automation. Recondo reported a 50 percent year-over-year increase in bookings and expects continued similar or higher growth into the fourth quarter. The company also stated it achieved corporate profitability for the first time in its history. Recondo was founded in 2007. Led by founder and CEO Rick Adam, Recondo provides technologies and services to connect providers, payers, and patients throughout the healthcare revenue cycle. The company offers revenue cycle services and Proper Payments solutions for healthcare organizations. Recondo recently acquired eHC (Electronic Health Claims) Solutions, a developer of advanced Intelligent Electronic Data Interchange (EDI) solutions. It received a $20M growth investment from Bregal Sagemount. Recondo intends to use the proceeds to expand sales and marketing and to broaden product offerings through internal development and strategic merger and acquisition opportunities.

Total raised

$36M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Nov 2016