What You Should Know:
– Payment integrity tech provider ClaimLogiq acquires SyTrue, a provider of healthcare natural language processing (NLP) technology. Financial details of the acquisition were not disclosed.
– The acquisition combines the premier payment integrity platform with the leading NLP technology solution to transform how health plans address payment integrity, risk adjustment and data management. By combining their technologies, the market will have a new seamless and cohesive solution for clinical, coding and medical record reviews.
Natural Language Processing For Health Plans and Providers
Based out of Chico, CA, SyTrue is a high-tech, privately held, healthcare company that leverages proprietary Natural Language Processing (NLP), Artificial Intelligence (AI) and Machine Learning (ML). Our NLP OS™ reads, comprehends and publishes valuable insights from medical records for downstream actions similar to the way healthcare experts do. NLP OS was created for healthcare experts to ease the routine, mundane, tasks of reading, searching and identifying what’s in a single medical record or hundreds of millions of medical records – within seconds.
ClaimLogiq’s Integration with SyTrue’s NLP OS Technology
The integration of ClaimLogiq’s platform and SyTrue’s NLP OS technology is poised to streamline and transform the medical record review ecosystem by empowering clinicians and coders with valuable and actionable insights to make rapid and accurate payment decisions, resulting in significant productivity gains and greater cost savings. Specifically, healthcare organizations will gain more flexibility to automate, process and analyze unstructured data for multiple downstream use cases, including payment integrity, risk adjustment, and more.
This highly configurable platform will support the healthcare industry’s focus to a more transparent and proactive approach to payment integrity, enabling payers and service providers to deliver a more comprehensive and dynamic payment integrity program. This new platform is the only market offering that enables users to either perform their own payment integrity reviews, leverage ClaimLogiq subject matter experts, or operate a hybrid model that employs both methods, creating wide range scale and flexibility.
“To make informed decisions, it is essential that payers have access to the most up-to-date, accurate data,” said SyTrue Founder and CEO Kyle Silvestro. “However, with so much critical information locked in medical records as unstructured data, this is far easier said than done. Transforming the unstructured data, paired with our added workflow tools, will allow ClaimLogiq to address the enterprise needs of payers across payment integrity, risk adjustment and more.”
