We’re thrilled to have been named to the 2021 CB Insights #DigitalHealth150 in recognition of the work we’re doing to automate medical coding and billing and transform revenue cycle management.
New York — December 9, 2021 —Nym Health, a leader in autonomous medical coding, today announced that it has been named to CB Insights’ third annual Digital Health 150. The global list showcases the 150 most promising private companies at the intersection of healthcare and technology.
“We’re delighted to be recognized by CB Insights for addressing the growing need for scalable revenue cycle management (RCM) solutions and honored to be among the 2021 Digital Health 150,” said Amihai Neiderman, Nym’s CEO and Co-Founder. “This recognition is a testament to our interdisciplinary team’s tireless efforts to continue expanding and enriching Nym’s autonomous medical coding platform’s capabilities. Delivering technology that meaningfully reduces the administrative burden on healthcare providers is something all of us at Nym are passionate about because we believe that it will enable them to spend more time with patients and help improve the quality of care.”
Demand for Nym’s autonomous medical coding platform grew rapidly amid the Covid pandemic, when hospital emergency departments and urgent care centers across the US were flooded with patients and left without enough coding staff to process the surge in medical billing that resulted from the 58% increase in clinical visits. In significantly reducing 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 US providers, Nym is transforming RCM.
Powered by explainable AI capabilities and a clinical language understanding (CLU) engine, Nym’s autonomous medical coding platform simultaneously improves the quality and speed of medical billing, and reduces the administrative burden on healthcare providers and their staff. 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. Additionally, Nym provides comprehensive, audit-ready, traceable codes for full transparency.
Through an evidence-based approach, the CB Insights research team selected Nym and other Digital Health 150 honorees from a pool of over 11,000 companies. The 2021 cohort has raised roughly $14.9B in aggregate funding across 522 deals since 2016, and includes startups at various investment stages of development, from early-stage to well-funded unicorns.
“This year’s Digital Health 150 is one of our most expansive yet, spotlighting 16 categories including virtual care, clinical trials tech, and workflow automation, as well as adding new categories such as home health tech and computer-aided imaging,” said Brian Lee, SVP of CB Insights’ Intelligence Unit. “Last year’s class has seen more than 20 exits, raised an additional $18.6B in aggregate funding, and announced over 250 partnerships since being recognized, and we’re excited to see the future success of this year’s winners.”
About CB Insights
CB Insights builds software that enables the world’s best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.
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 (RCM) is reducing costs and improving payment cycles for healthcare providers across the United States. Along with over 96 percent accuracy, Nym’s 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.