Connolly, Inc

Connolly, LLC
Private
Founded 1979, USA
Key people
 Libby Connolly Alexander, CEO
Website www.Connolly.com

Connolly, LLC (formerly Connolly, Inc.) is a private, global recovery audit firm with more than 1,200 employees, and two divisions Global Retail and Healthcare. The company is headquartered in Wilton, Connecticut. Recovery auditing is a financial best practice recognized by leading organizations worldwide for reducing clients' erroneous payments, improving their processes, and enhancing their performance. Connolly’s clients include many of the world’s largest and best run companies in virtually all industries.[1]

Recovery Auditing

Recovery auditing involves recouping the millions of dollars each year that companies and government agencies have erroneously paid to suppliers, vendors, and providers. These errors can include duplicate payments, missed discounts, incorrectly coded medical claims, and more.[2] These types of improper payments are endemic to most large organizations and can range from less than 1% to as much as 8% of expenditures.[3]

History

Connolly was founded in 1979 by James Connolly, a former executive at the Gimbels department store, and was initially known as Connolly Consulting Associates. The company’s initial focus was on retailers, but the business was expanded to non-retailers in the early 1990s, and to healthcare medical claims auditing in the late 1990s. Larry Connolly assumed leadership of the company in 1991, retiring in 2012. Libby Connolly Alexander is the current CEO.[4]

Divisions

Connolly’s Healthcare Division serves commercial and government payers in the identification of erroneous healthcare claims. The company has also worked for the Centers for Medicaid and Medicare Services (CMS) as a Recovery Audit Contractor (RAC)[5] since 2005.

Connolly’s Retail Division serves 19 out of the top 20 U.S. retailers.[6]

Awards

Connolly was selected in 2008, 2009, 2010, and 2011 as one of Inc. magazine’s 5000 Fastest Growing Private Companies in America.[7]

Connolly was recognized in 2010 and 2011 as one of the Best Places To Work in Connecticut by the Hartford Business Journal [8]

References

  1. ↑ "Hoovers, Connolly, Inc".
  2. ↑ "IAPP Cost Recovery Revolution".
  3. ↑ "Microsoft Case Studies; Connolly, Inc".
  4. ↑ "Libby Connolly Testifies Before Congress".
  5. ↑ "Recovery Audit Contractor". Archived from the original on 2011-01-29.
  6. ↑ "Libby Connolly Testifies Before Congress".
  7. ↑ "Meet the 2010 Inc. 5000: A list of America's Fastest-Growing Private Companies".
  8. ↑ "BEST PLACES TO WORK 2010: RANKED NO. 16 -- SMALL/MEDIUM COMPANY CATEGORY Connolly, Inc".
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