Annual List Recognizes the Most Exciting and Innovative Health Startups in New York
NEW YORK, Feb. 1, 2022 /PRNewswire/ — Nym Health, a leader in autonomous medical coding, today announced that it has been named to the New York City Health Business Leaders (NYCHBL) 2022 NYC Digital Health 100, showcasing the most exciting and innovative health startups in New York.
“We’re honored to be included among this year’s NYC Digital Health 100 and part of such a dynamic community, which New York City Health Business Leaders has played a key role in cultivating,” said Amihai Niederman, Nym’s CEO and Co-Founder. “Nym is transforming medical coding, providing US healthcare providers with a solution that deciphers clinical language within seconds and automates burdensome, costly administrative processes such as revenue cycle management. To deliver this technology, we’ve built a truly interdisciplinary team, which we’re thrilled to be growing in New York, where there’s rich diversity and creative energy, and unrivaled access to talent and resources.”
The NYC Digital Health 100 was released in conjunction with the NYCHBL Healthcare Innovation Report 2022, an in-depth look at the data, trends and insights that define the healthcare industry in New York. A professional community of 5,000 senior executives, NYCHBL was founded in 2009 and brings together the best minds in healthcare to discuss important issues and spur innovation across sectors.
“This year, the NYC Digital Health 100 is comprised of an incredibly diverse set of companies and leaders who are working to innovate and solve some of the most complex challenges across all facets of the healthcare ecosystem,” said Bunny Ellerin, co-founder and CEO, NYCHBL. “We are delighted to recognize these companies and celebrate and support their growth in the New York area.”
The Nym platform significantly reduces healthcare providers’ dependence on antiquated, manual billing processes, which lead to coding-related denials from insurers that add up to billions in lost revenue annually for health systems. Powered by explainable AI capabilities and a clinical language understanding (CLU) engine, the Nym platform transforms provider narratives in the free text within patient charts, turning them into compliant ICD-10-CM and CPT reimbursement codes in a matter of seconds, with greater than 96% accuracy and no human intervention.
NYC Digital Health 100 Methodology
To compile the NYC Digital Health 100, NYCHBL used its dynamic database of digital health companies in the region and then invited companies to complete applications with quantitative and qualitative data to broaden the consideration set. A company qualified for consideration if it maintained headquarters or an office (over 10 people) in the New York region. Companies were judged on a number of factors, including but not limited to: strength of leadership, # of employees, funding (if known), revenue (if known), market fit, differentiated offerings, approach to diversity and equity, and community engagement.
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.