TORONTO, Nov. 15, 2016 /CNW/ - Syncordia Technologies and Healthcare Solutions, Corp. (TSXV: SYN) ("Syncordia" or the "Company") a technology enhanced revenue cycle management ("RCM") company focused on underserved niche segments of the healthcare industry, today announced the recent signing of new client contracts at Billing Solutions representing over thirty percent growth.
Billing Solutions is one of Syncordia's portfolio companies dedicated solely to the mental and behavioral health industry, which was acquired March 22nd of this year.
Additionally, Syncordia management working closely with the Billing Solutions team has also introduced a new streamlined operational throughput mandate adding over $1million~ in EBITDA on an annual basis to the enterprise, while improving key performance indicators and daily accountability for client benefit.
Billing Solutions' clients are now using NECTAR, which was press released in late August to great fanfare. NECTAR is a customer facing business intelligence dashboard showing key medical practice performance indicators to allow our clients to operate their businesses better. According to Jimmy Rizzo, CEO of Billing Solutions, "NECTAR provides a dashboard with the top key performance indicators that clients care about the most. The beauty of this revolutionary solution is that clients can access the information on their own, as frequently as needed to get the latest data."
Michael Franks CEO of Syncordia says, "We continue to take an extremely serious approach to customer service and operational excellence at Billing Solutions, looking for new and improved ways Platform Syncordia can aid in Billing Solutions' success for the benefit of clients, customers and employees. I think the new contract activity illustrates this. NECTAR is important as it creates customer stickiness for Billing Solutions and enhances Syncordia's nectar (our attraction, for new customers, to our offerings), and will eventually be introduced in a Software as a Service environment."
About Billing Solutions LLC
Billing Solutions (www.billingsolutions.net) is a full service third party rehabilitation center billing solutions company, dedicated solely to the mental and behavioral health industry. Billing Solutions has about 40 employees based in Prescott, Arizona a short distance north of Phoenix, Arizona.
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 the 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. (www.syncordiahealth.com)
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. All amounts are reported in US dollars.
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: For further information: Michael Franks, Chief Executive Officer, (647) 949-2663, [email protected]