• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

  • Opinion
  • Health IT
    • Behavioral Health
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Patient Engagement
    • Population Health Management
    • Revenue Cycle Management
    • Social Determinants of Health
  • Digital Health
    • AI
    • Blockchain
    • Precision Medicine
    • Telehealth
    • Wearables
  • Life Sciences
  • Investments
  • M&A
  • Value-based Care
    • Accountable Care (ACOs)
    • Medicare Advantage

Revenue Cycle Startup Nym Lands $6M for Autonomous Medical Coding Solution

by Fred Pennic 06/13/2019 Leave a Comment

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print

Revenue Cycle Startup Nym Lands $6M for Autonomous Coding Technology

Nym, an Israeli-based autonomous medical coding technology provider announced that it has secured a $6 million seed funding, led by Bessemer Venture Partners. Founded in 2018 by Amihai Neiderman and Adam Rimon, Nym’s automatic medical language understanding technology streamlines the hospital revenue cycle.

Traditional Cumbersome Medical Coding Process

There are over 250,000 medical coders in the United States today manually reviewing patient charts and assigning the applicable medical codes required for billing. Nym’s automatic medical language understanding technology streamlines the hospital revenue cycle by generating billing codes in real-time with no human involvement, dramatically helping to cut down billing cycle times and costs.

Nym’s fundamentally different approach to AI and natural language understanding not only enables codes to be assigned in real-time with zero human interaction, but it also addresses the AI black box problem by generating a clear and transparent audit trail explaining how each code was chosen.

Clinical Language Understanding (CLU)

Clinical Language Understanding (CLU) is a combination of medical knowledge and computational linguistics applied to clinical language. It enables computers to understand the logical relations between various linguistic elements in the chart and build a model, describing the narrative of the physician reports.

Because CLU is based on fully deterministic computational linguistics and each step in the process is documented, the system easily generates audit-ready, traceable codes for total visibility.

Autonomous Coding is NOT Computer Assisted Coding (CAC)

Revenue Cycle Startup Nym Lands $6M for Autonomous Coding Technology

Nym codes charts with no human intervention.  Unlike CAC, it is fully automatic and unlike other AI solutions, it understands unstructured physician language and can explain its coding rationale. For each chart Nym fully understands, it assigns ICD10 and CPT codes for billing. Otherwise, charts are flagged for human handling and placed it in the coders’ queue.

For charts that have been coded, Nym’s audit-trail view provides a clear explanation of the reasoning behind the decision to assign a specific code. This allows for a quick understanding of the audit trail for validation, compliance and appeals’ basis.

Why It Matters

The investment signals the company’s initial success in providing automatic, accurate, and real-time medical coding, enabling healthcare facilities to optimize their revenue cycle processes.

“With autonomous coding, the billing process is streamlined, reducing operational costs and adding efficiency to the patient experience – from point-of-care to accurate billable claim,” said Amihai Neiderman, CEO and co-founder of Nym. “This accelerated and simplified process improves both the patient experience as well as a clinic or hospital’s cash flow. We are proud to offer our transformative technology, providing the solution that revenue cycle management has been missing.”

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print

Tagged With: AI, Bessemer Venture Partners, Box, Clinical Language Understanding, CLU, computer assisted coding, medical coders, medical coding, Nym, Partners, Patient Experience, revenue cycle, Revenue Cycle Management

Tap Native

Get in-depth healthcare technology analysis and commentary delivered straight to your email weekly

Reader Interactions

Primary Sidebar

Subscribe to HIT Consultant

Latest insightful articles delivered straight to your inbox weekly.

Submit a Tip or Pitch

Featured Interview

Reach7 Diabetes Studios Founder Chun Yong on Reimagining Chronic Care with a Concierge Medical Model

Most-Read

Epic Launches Comet: A New AI Platform to Predict Patient Health Journeys

Epic Launches Comet: A New AI Platform to Predict Patient Health Journeys

Preparing for the ‘Big Beautiful Bill’: How Digitization Can Streamline Medicaid Eligibility & Social Care Delivery

Preparing for the ‘Big Beautiful Bill’: How Digitization Can Streamline Medicaid Eligibility & Social Care Delivery

Evernorth Health Services Invests $3.5B in Shields Health Solutions

Evernorth Health Services Invests $3.5B in Shields Health Solutions

KLAS Report: Oracle Health Faces Customer Losses and Declining Satisfaction

KLAS Report: Oracle Health Faces Customer Losses and Declining Satisfaction

Tempus AI Acquires Digital Pathology Leader Paige for $81.25M

M&A:Tempus AI Acquires Digital Pathology Leader Paige for $81.25M

Mira Launches Ultra4™, the First At-Home Hormone Monitor with Lab-Quality Insights

Femtech: Mira Launches Ultra4™, the First At-Home Hormone Monitor with Lab-Quality Insights

How Healthcare CIOs Can Solve the Unstructured Data Crisis and Reduce Storage Costs

How Healthcare CIOs Can Solve the Unstructured Data Crisis and Reduce Storage Costs

Healthcare C-Suite Acknowledges AI Potential but Lacks Trust

Sage Growth Partners Report: Healthcare C-Suite Acknowledges AI Potential but Lacks Trust

EVERSANA and Waltz Health Merge to Redefine Pharmaceutical Commercialization

EVERSANA and Waltz Health Merge to Redefine Pharmaceutical Commercialization

Advancing Diabetes Care: Combating Burnout and Harnessing Technology

Advancing Diabetes Care: Combating Burnout and Harnessing Technology

Secondary Sidebar

Footer

Company

  • About Us
  • Advertise with Us
  • Reprints and Permissions
  • Submit An Op-Ed
  • Contact
  • Subscribe

Editorial Coverage

  • Opinion
  • Health IT
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Population Health Management
    • Revenue Cycle Management
  • Digital Health
    • Artificial Intelligence
    • Blockchain Tech
    • Precision Medicine
    • Telehealth
    • Wearables
  • Startups
  • Value-Based Care
    • Accountable Care
    • Medicare Advantage

Connect

Subscribe to HIT Consultant Media

Latest insightful articles delivered straight to your inbox weekly

Copyright © 2025. HIT Consultant Media. All Rights Reserved. Privacy Policy |