SyTrue, Inc., a healthcare information services provider and developer of proprietary technologies used to translate unstructured medical data into useable clinical information, announced today it has entered into a multi-year agreement with XIFIN Inc., a leading provider of financial and health economic optimization solutions for diagnostic service providers.
The three-year agreement initially supports two service areas: First, XIFIN will use SyTrue’s innovative patent-pending technologies to gain detailed information surrounding pathology diagnoses to help XIFIN’s clients improve their billing practices and enhance reimbursement. By incorporating SyTrue’s terminology server, Platform as a Service (PaaS) — designed to map, translate and manage clinical terminologies — XIFIN clients will be better positioned to increase revenue through the processing of more precise claims.
Secondly, SyTrue’s code conversion tool will enable XIFIN’s clients to assist physicians through the transition from the current ICD-9 coding system, which spans nearly 14,000 codes to ICD-10, encompassing 140,000 codes, effective October 1, 2015. The deployment of SyTrue’s solution as an “App” on the XIFIN iNet Physician Office Portal, will afford XIFIN’s extensive client base of diagnostic service providers the ability to capture accurate diagnostic codes, thereby simplifying the overall ICD-10 transition.
“Aligning with SyTrue will enable XIFIN to provide data-driven solutions that enhance revenue collection and better enable our customer’s transition to value-based care and population health management,” stated Lâle White, CEO of XIFIN. “We are excited to partner with SyTrue on the first of many Natural Language Processing-based applications to be delivered on the XIFIN technology platform.”
XIFIN’s technology platform and solutions support some of the nation’s largest and most complex diagnostic service providers including clinical laboratories, pain management/toxicology, anatomic pathology, radiology, hospital outreach and molecular diagnostics. Built on a secure web service-based technology platform, XIFIN’s core product is designed to help clients optimize billing and collection practices, automate billing workflow and reduce regulatory compliance risk. XIFIN’s health optimization platform also powers its laboratory information system, physician and patient portals and enterprise-class business intelligence and physician collaboration network.
As a fast-emerging healthcare information service provider, SyTrue offers the healthcare industry a range of powerful technological solutions for transforming data into actionable real-time information. This positively impacts care, improves utilization and enhances reimbursement through clinical intelligence. SyTrue’s knowledge-based solutions, including Clinical Natural Language Processing and Smart Data Layer, can extract new information with unparalleled accuracy by reading narrative text like that of a human and extracting key medical facts.
“As we help companies like XIFIN improve their support to their clients, we also play a key part in driving the complex changes in healthcare forward. Two features of our platform – speed and accuracy in converting unstructured data into beneficial information by using Clinical Natural Language Processing and Smart Data — are proving invaluable in our clients’ quest to enhance patient care and improve reimbursement,” explained Kyle Silvestro, Founder and Chief Executive Officer at SyTrue.