Nym’s Coding Engine Automates Revenue Cycle Management for Level 1 Pediatric Trauma Center, Bringing Greater Accuracy, Efficiency and Speed to Medical Billing and Payment Cycles
HARTFORD, Conn. & NEW YORK–(BUSINESS WIRE)–Connecticut Children’s recently partnered with Nym Health, a leader in transforming clinical language into actionable information, to power innovative, technology-driven revenue cycle management (RCM) for the hospital’s Emergency Medicine division. Ranked by U.S. News & World Report as one of the best children’s hospitals in the nation and designated a Level 1 Pediatric Trauma Center, Connecticut Children’s is adopting the Nym engine to automate coding, enable precise and rapid medical billing, and improve payment cycles.
“At Connecticut Children’s, we’re committed to innovation that will drive the future of pediatric medicine and better care journeys for families across the state. A critical part of this effort involves utilizing technology to ease administrative burdens so our clinicians and staff can focus on the care we deliver,” said Bridgett Feagin, Connecticut Children’s Executive Vice President and Chief Financial Officer. “Nym makes it possible to instantly understand and translate clinical language into accurate and compliant medical billing codes. These capabilities are transformative, so we’re very excited to be the first children’s hospital in the state to be partnering with Nym for this.”
While coding is an essential step to submit bills to insurance companies for services that have been provided to patients, the process itself continues to rely largely on manual labor and error-prone practices. This causes complexity that is a significant drain for providers and more broadly the US health system, contributing to $256.6 billion in administrative waste annually.
“Technology that truly understands clinical language holds the key to overcoming much of the administrative complexity that plagues healthcare today,” said Amihai Neiderman, Nym’s CEO and Co-Founder. “We’re thrilled that health systems such as Connecticut Children’s recognize the value Nym’s engine provides and are leveraging it to create efficiencies that advance high-quality patient care.”
Combining clinical expertise, computational linguistics and explainable AI, Nym unlocks vital data within medical records. The Nym engine takes provider notes in the free text within patient charts and turns them into compliant ICD-10-CM and CPT reimbursement codes in a matter of seconds, with greater than 96% accuracy and zero human intervention. What’s more, the Nym engine is automatically updated as new guidelines are released, and it produces audit-ready, traceable documentation for every code it generates, ensuring total visibility into why each code was assigned.
About Connecticut Children’s
Connecticut Children’s is the only hospital in Connecticut dedicated exclusively to the care of children and ranked one of the best children’s hospitals in the nation by U.S. News & World Report and a Magnet® designated hospital. Connecticut Children’s provides more than 30 pediatric specialties along with community-based programs to uniquely care for the physical, social, and emotional needs of children. Our team of pediatric experts and care coordinators bring access to breakthrough research, advanced treatments for both rare and common diseases, and innovative health and safety programs to every child. Connecticut Children’s is a not-for-profit organization with a mission to improve access to healthcare for all children through convenient locations, care alliances and partnerships.
For more information, visit www.connecticutchildrens.org or connect with us on Facebook at facebook.com/connecticutchildrens and Twitter at twitter.com/ctchildrens.
About Nym Health
Nym Health is a leader in autonomous medical coding. Combining computational linguistics and clinical intelligence, Nym’s innovative approach to revenue cycle management is reducing costs and improving payment cycles for healthcare providers across the United States. Along with over 96 percent accuracy, Nym’s clinical language understanding technology delivers comprehensive, audit-ready, traceable codes for full transparency. The Nym platform processes over three million charts annually in more than 90 emergency department and urgent care settings.
Nym has offices in New York and Tel Aviv, Israel, and is backed by Addition, GV, Bessemer Venture Partners, Dynamic Loop Capital, Lightspeed, and Tiger Global, as well as angel investors, including Zach Weinberg and Nat Turner. To learn more about Nym, visit nym.health.