TORONTO, Jan. 31, 2017 /CNW/ - Syncordia Technologies
and Healthcare Solutions, Corp. (TSXV: SYN) ("Syncordia") is
pleased to announce new contract growth and strategic updates for
2017.
Syncordia's wholly owned subsidiary, Health Services Integration
("H-S-I"), a technology enhanced claims management company
utilizing proprietary technology to improve claim workflow,
production management, and actionable data transparency in the air
and ground EMS (emergency medical services) industry is pushing
through operational initiatives expected to add over $1.0 million to the bottom line on an annualized
basis, which will be fully realized in calendar Q2 while also
enhancing the customer experience. H-S-I is in the process of
onboarding new contracts over the coming months and quarters with a
contribution of approximately $700,000 in EBITDA, while continuing to convert
additional pipeline opportunities.
Billing Solutions LLC, an 80% owned subsidiary of Syncordia, a
full service third party rehabilitation center billing solutions
company, dedicated solely to the mental and behavioral health
industry, is in the process of signing customer contracts
anticipated to contribute an additional $300,000 in EBITDA on an annualized basis. These
contracts are in addition to what was press released November 15th, 2016. Version 2.0 of
NECTAR, originally announced August
23rd, 2016, was released January 26th, 2017 to great customer praise.
Syncordia continues to focus on building out its full service
software suite for Billing Solutions.
Wholly owned subsidiary, Paragon Billing LLC, is in the process
of onboarding new clients, which will add approximately
$300,000 in EBITDA annually.
Syncordia's strategy for 2017 is to continue to develop
proprietary software to enhance customer experiences across the
platform, grow organically, drive operational improvements to
refine throughput to drive cost savings, and sell off an asset to
reduce debt. Divestiture valuations of a portfolio asset will not
be hindered by Platform Syncordia or corporate overhead
expenses.
Additionally, Chris Martin,
Syncordia's Chief Strategy Office has also been moved into the role
of the Chief Executive Officer of H-S-I to drive additional
performance and to capitalize on additional opportunities.
About H-S-I
H-S-I is a technology enhanced claims
management company utilizing proprietary technology to improve
claim workflow, production management, and actionable data
transparency. Realizing a gap in efficiencies in the EMS
transportation medical billing process, HSI develops leading edge
medical billing technology to enable a highly efficient billing
process. The technology developed by HSI automates and speeds
up claims processing and provides analytics for deeper insight to
fine tune the revenue cycle management
process. www.hsihealth.com
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 is
based in Prescott, Arizona a short
distance north of Phoenix,
Arizona.
About Paragon Billing LLC
Paragon is a premier mental
and behavioral health billing company with a proprietary web based
appointment scheduler and integrated electronic health record
system ("EHR"). Software is ONC certified.
http://www.mentalhealthbilling.com/
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
revenue cycle management/medical billing businesses with and
without software, improve their profitability by increasing
revenues, operating efficiencies and margins. Syncordia will
leveraging proprietary software to manage scale, drive better
customer experiences and enhance margins while driving a
competitive sustainable profile.
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.