Nym Launches Radiology Coding Solution for Revenue Cycle Management

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Nym , the leader in translating clinical language into actionable information, today announced that its medical coding engine is now being offered to radiology departments across the US.

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Retrieved on: 
Thursday, October 6, 2022
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Other Health, Software, Managed Care, General Health, Radiology, Telemedicine, Virtual Medicine, Data Management, Technology, Hospitals, Practice Management, Other Technology, Health, Physician, Machine learning, GV, CPT, Bessemer Venture Partners, Emergency medicine, Technology, Translation, ICD-10, R, Radiology, Computational linguistics, Tiger Global Management, Health, Linguistics, RCM, Solution, Documentation, Hospital, Speed of light, Nym
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NEW YORK, UNITED STATES, NORTH AMERICA, NEW YORK CITY
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Nym
Summary
Key Points: 
  • Nym , the leader in translating clinical language into actionable information, today announced that its medical coding engine is now being offered to radiology departments across the US.
  • This expansion brings Nyms autonomous medical coding technology to a third outpatient specialty area, expanding access to the Companys industry-leading solution for revenue cycle management (RCM), which is improving payment cycles for over 150 leading emergency department (ED) and urgent care facilities in the US.
  • Unlike other autonomous coding solutions that rely heavily on machine learning, the Nym engines hybrid rules-based approach enables rapid expansion into new specialties with minimal legacy data.
  • Nym expects to achieve over 70% coverage, enabling its radiology customers to drastically reduce coding costs and reallocate strained coding resources to higher complexity workflows.


Nym, the leader in translating clinical language into actionable information, today announced that its medical coding engine is now being offered to radiology departments across the US. This expansion brings Nym’s autonomous medical coding technology to a third outpatient specialty area, expanding access to the Company’s industry-leading solution for revenue cycle management (RCM), which is improving payment cycles for over 150 leading emergency department (ED) and urgent care facilities in the US.

Leveraging clinical expertise, computational linguistics and explainable AI, Nym’s medical coding engine deciphers physician notes in patient charts and assigns accurate ICD-10 and CPT codes for billing. The engine codes charts within seconds with over 96 percent accuracy and zero human intervention. Unlike other autonomous coding solutions that rely heavily on machine learning, the Nym engine’s hybrid rules-based approach enables rapid expansion into new specialties with minimal legacy data.

“We’re excited to be fortifying our engine’s capabilities and launching in another major specialty area that drives significant coding volume for our customers,” said Nym’s Chief Product Officer Melisa Tucker. “We have seen exceptional results in radiology and will expand to multiple new specialties in 2023, allowing us to automatically code the majority of outpatient visits for our health system customers.”

Nym’s radiology offering is currently available to the Company’s existing customers, as well as to new customers. It includes ICD-10-CM, CPT, and modifier coding, and is available for both professional and facility coding. Nym expects to achieve over 70% coverage, enabling its radiology customers to drastically reduce coding costs and reallocate strained coding resources to higher complexity workflows.

“The Nym engine has been a game changer for our emergency medicine and urgent care customers, particularly in terms of coding cost, quality, and speed,” added Nym’s Chief Commercial Officer Julien Dubuis. “Our customers have been requesting coding automation across more specialty areas, and we are thrilled to be able to meet their needs and support radiology facilities.”

About Nym

Nym is the leader in transforming clinical language into actionable information, which can remove inefficiencies that add billions to the cost of care. By combining industry-leading technology with clinical expertise and a deep understanding of medical language, Nym is able to accurately decode medical charts in a way that is fast, explainable and compliant. The Company’s innovative solution for revenue cycle management (RCM) takes provider notes within patient charts and translates them into accurate diagnostic and billing charge codes, all within a matter of seconds and with zero human intervention. Along with 96+% accuracy, Nym’s RCM solution delivers audit-ready, traceable documentation for every code it generates, ensuring total visibility into why each code was assigned. The Nym solution can be quickly deployed and scaled based on volume and workflow needs, easing administrative burdens and allowing clinical teams to spend more time focused on patient care.

Based in New York City with R&D capabilities in Tel Aviv, Nym is building an interdisciplinary team of specialists including technologists, physicians, mathematicians, computational linguists, engineers, medical coders and more. Investors in Nym include Addition, GV, Bessemer Venture Partners, Dynamic Loop Capital, Lightspeed, Tiger Global, Zach Weinberg and Nat Turner. To learn more about Nym, visit nym.health.

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