CodaMetrix Autonomous Bedside Pro Medical Coding Launches with Henry Ford Health

• One of the nation's premiere academic and integrated health systems, with five hospitals and more than 2,300 staffed beds, will bring relief to medical coders and physicians for bedside  professional services
  
  
• Autonomous medical coding significantly decreases the need for manual review, reducing errors, missed charges, billing backlogs, and claim denials, while addressing burnout and workforce shortages
  
  
• CodaMetrix's multispecialty autonomous coding capabilities reach bedside pro, radiology, pathology, GI, and surgical procedures at major health systems

BOSTON, May 18, 2023 /PRNewswire/ -- CodaMetrix, an AI technology platform transforming healthcare revenue cycles, today announced the expansion of its multi-specialty autonomous medical coding platform to include bedside professional coding. Henry Ford Health, one of the nation's leading nonprofit academic medical institutions, is a customer and collaborator. The partnership will empower the revenue cycle team at Henry Ford Health to utilize AI-powered autonomous coding for their more than 700,000 bedside services provided each year, reducing physician, medical coding, and billing administrative burden, and driving more financial and operational efficiency.

Inpatient hospital stays due to serious medical conditions, injuries, surgical procedures, and medical emergencies such as strokes, heart attacks, broken bones, and burns, routinely require bedside physician consultation. Evaluations and management of patients at the bedside, by hospitalists and other specialists, as well as bedside procedures, need to be abstracted into medical codes for reimbursement. Depending on health systems' policies, the coding function is usually performed by physicians, medical coders, or both. In scenarios where physicians are responsible for coding, not only is it an extra burden, but it increases the number of missed opportunities for accurate reimbursement.

Even when performed by trained medical coders, abstraction is a highly inefficient and costly process. It requires sifting through hundreds of pages of documentation to find and translate physician notes to billing codes. The current coding process, whether performed by physicians or coders, creates a large backlog and overburdens medical coding and billing departments. Because medical coding is exacting and time consuming, health systems have a difficult time recruiting and training an adequate number of qualified medical coders, spending more on labor costs or sending work offshore, often leading to lower coding quality and revenue leakages.

"Turning to autonomous AI for medical coding will create efficiency in our workflow, resulting in lower costs, reduced backlogs, and improved patient experience," said Kevin O'Neill, Interim Chief Revenue Officer, Henry Ford Health System. "Inpatient bedside visit coding accounts for 20% of our overall coding cost. Using CodaMetrix to automate bedside visit coding will allow us to shift resources to other areas of need."

CodaMetrix's multi-specialty platform classifies codes across radiology, pathology, GI and surgical procedures for some of the nation's most prestigious health systems and major academic universities, including Mass General Brigham, University of Colorado Medicine, Yale Medicine, University of Miami Health System, and Oregon Health and Science University. The expansion into bedside professional coding with Henry Ford Health System highlights CodaMetrix's breadth and depth of capabilities, which drive increased efficiency across the entire healthcare enterprise.

"Building autonomous coding for bedside visits requires our AI-models to be trained on patient longitudinal health records and across various specialties involved with inpatient stay. This technology is far more sophisticated than training models on individual episodes of care," said Hamid Tabatabaie, President and CEO of CodaMetrix. "We are thrilled to work with an innovative partner like Henry Ford Health System to extend our autonomous coding platform for complex use cases, such as inpatient bedside visits."

The expansion of bedside professional coding follows CodaMetrix's latest venture capital fundraise. Hospitals and health systems looking for more information about coding for inpatient professional procedures and other diagnostic or speciality areas can visit https://codametrix.com/solutions/ or meet with the CodaMetrix team during the HFMA Annual Conference at Booth 537.

About CodaMetrix
CodaMetrix (CMX) is a SaaS technology company providing an AI-powered platform to facilitate healthcare revenue cycle management and medical coding. The company's cutting-edge platform combines machine learning (ML), deep learning, and natural language processing (NLP) to translate clinical notes automatically, accurately, and autonomously into billing and diagnostic codes that satisfy coding requirements while reducing human coding workload. CodaMetrix's AI continuously learns from and acts upon the clinical evidence in electronic health records (EHRs). That knowledge is applied to improve the efficiency and quality of medical coding and to enable providers to code less and care more. For more information, visit https://www.codametrix.com.

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SOURCE CodaMetrix