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.