NEW YORK – (BUSINESS WIRE) — Nym, a leader in autonomous medical coding, today announced the expansion of its suite of outpatient solutions for revenue cycle management (RCM) automation. In addition to areas such as emergency medicine and radiology, Nym’s industry-leading medical coding engine now has the capabilities to support outpatient surgery and outpatient visits for healthcare providers across the US.
“Nym is automating medical coding and improving payment cycles for over 250 healthcare facilities nationwide, and we continue to receive an overwhelming number of requests from customers to further expand the capabilities of our engine to support additional outpatient settings,” said Or Peles, Nym’s CEO. “We’re excited to be launching two new revenue cycle management offerings and take great pride in our ability to successfully meet customers’ evolving needs, consistently delivering value to them by driving efficiencies that reduce costly administrative burdens and enable more time and resources to be allocated to patient care.”
Medical coding in outpatient surgery, also known as ambulatory surgery or same-day surgery, is often associated with an increased risk of denials, difficulty finding qualified coders, slower payment cycles, and compliance concerns. These issues typically stem from the complexity of surgical documentation, coding inconsistencies between professional fee (profee) and facility services, and frequent updates to coding guidelines and regulations in healthcare settings.
The Nym engine will now also be able to support outpatient visits, focusing primarily on diagnosis coding for outpatient treatments and services including, but not limited to, chemotherapy, infusion therapy, physical therapy, occupational therapy, and speech therapy.
Leveraging clinical expertise, computational linguistics, and explainable AI, Nym’s engine deciphers physician notes in patient charts and accurately assigns ICD-10 and CPT codes for medical billing. Nym codes patient charts within seconds with over 95 percent accuracy and zero human intervention, enabling healthcare providers to optimize resource allocation and reduce coding costs, the risk of denials, and missed revenue. Additionally, the Nym engine is automatically updated as new guidelines are released, and it produces audit-ready, traceable documentation for every code it generates.
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 over 95% 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, Tiger Global, Zach Weinberg and Nat Turner. To learn more about Nym, visit nym.health.