TORONTO, June 7, 2016 /CNW/ - Syncordia Technologies and Healthcare Solutions, Corp. (TSXV: SYN) ("Syncordia" or the "Company") today announced the unveiling of their proprietary Coordinet product. Coordinet is a cloud-based application designed to assist hospital systems in the coordination of care for high risk patients with the goal of minimizing inappropriate readmissions and the resulting associated fines from CMS (Centers for Medicare and Medicaid).
Coordinet is another in a series of "Platform Syncordia" revenue generating forthcoming products. This SaaS patient management tool facilitates collaborative documentation of high risk patients including diagnosis, treatment plans, and post-release continuation of care among all of the patient's care givers. As with other Syncordia products, Coordinet gracefully facilitates the tracking and trending of data via powerful analytics dashboards. Michael Franks, CEO of Syncordia, says, "Coordinet (patent pending) is revolutionary in that it will enable all care stakeholders to coordinate and deliver a consistent care plan to their high risk patients that may potentially result in fewer medical errors, fewer readmissions, and fewer deaths and in turn may save the hospital facilities millions."
Chris Martin, Chief Strategy Officer of Syncordia, says, "Facilitating simple, seamless, and intuitive communication among all patient care stakeholders which in turn generates powerful metric reporting that identifies readmission rates by stakeholders, diagnosis, treatment and referral services will provide hospital administrations with actionable data and benchmarking so that best practices can be adopted across departments and thereby avoiding potential fines." Coordinet facilitates this process with:
- A patient encounter management dashboard
- A patient follow-up activity tracker with actionable task lists
- An integrated LACE Tool for identifying high risk patients. LACE index identifies patients that are at risk for readmission or death within thirty days of discharge.
- Configurable risk rules
- Intelligent rule engines to compile and track data
- Analytics dashboards
- Integration with hospital EMR systems
Andy Tran, Chief Technology Officer of Syncordia, comments, "Coordinet is another integral part of Syncordia's vision of full proprietary ownership of the revenue cycle management software supply chain for the benefit of customers and shareholders. We have built it with the idea of fast implementation in mind, so that we can quickly onboard any hospital, including the robust integration of historical data, which is the big differentiator of Coordinet."
About Syncordia Technologies and Healthcare Solutions, Corp.
We are a technology-enhanced revenue cycle management ("RCM") company focused on underserved niche segments of the healthcare industry. We are focused on using our proprietary software suite as an accelerator for growth. We are building a diversified software and services business by consolidating healthcare billing providers. Our growth strategy is to acquire RCM businesses with and without software and, improve their profitability by increasing revenues and operating efficiencies using our software, and in time, commercializing Platform Syncordia, our cloud-based software offering, to provide customer demanded turn-key solutions from a single provider and to address compelling RCM market opportunities.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain statements herein may be "forward looking" statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Syncordia or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward looking statements. These forward looking statements reflect current assumptions and expectations regarding future events and operating performance and are made as of the date hereof and we assume no obligation, except as required by law, to update any forward looking statements to reflect new events or circumstances.
SOURCE Syncordia Technologies and Healthcare Solutions, Corp.
For further information: Michael Franks, Chief Executive Officer, (647) 949-2663, [email protected]