Precyse Solutions AND M*MODAL Announce Breakthrough CAC Solution
Pittsburgh and Wayne, PA Sep 22, 2010 — At the 82nd AHIMA Convention and Exhibit, Precyse Solutions, a leader in Health Information Management (HIM) services and technologies, and M*Modal, a pioneer of advanced Speech Understanding technology and provider of on-‐demand conversational documentation, announce their partnership to deliver a robust ICD-‐10-‐ready Computer Assisted Coding (CAC) engine in the release of PrecyseCode™, the most advanced health information management platform available today.
To best optimize coding operations and accelerate ICD-‐10 transition for hospitals and health systems nationwide, PrecyseCode capabilities have been built from the ground up to be ICD-‐10 compatible. As opposed to updating or reengineering a CAC solution to meet ICD-‐10 requirements, PrecyseCode has been specifically designed and engineered to be ICD-‐10 compatible. On the road to meaningful use of the Electronic Health Record (EHR), the HIM industry is challenged with integrating EHRs into the coding process. The CAC engine inherent in PrecyseCode now provides a bridge between EHR documentation, the transcription system and the healthcare provider’s financial systems.
“Facilitating the transition, implementation and management of health information systems that support an effective and efficient healthcare system and maintain health data integrity is of paramount concern to Precyse and our customers,” said Jeffrey Levitt, Chairman and CEO, Precyse Solutions. “In this same environment, where coding staff shortages challenge providers as they simultaneously face the most significant changes ever made to our coding structure, the quality, compliance and workflow benefits that PrecyseCode delivers are critical to overcoming these obstacles.”
For the past five years, Precyse has partnered with M*Modal and integrated M*Modal’s sophisticated Speech Understanding technology seamlessly into the Precyse dictation and transcription workflow platform, transforming speech into meaningful and usable clinical information. M*Modal’s industry leading Conversational Documentation Services (CDS) enables Precyse to deliver both extremely accurate and complete draft documents from speech, as well as coded and indexed discrete data in a machine-‐readable format, with immediate turnaround time.
“Stemming from our initial collaboration, M*Modal and Precyse have worked closely to develop the most powerful CAC solution available to the market today, maximizing EMR and HIS investments for healthcare organizations,” said Michael Finke, CEO and Founder of M*Modal. “Our unique solutions are designed to best assist in making clinical documentation intuitive and meaningful to the physician, the healthcare provider organization and the patient simultaneously.”
Demonstrating the Impact of PrecyseCode
In 2007, the Baptist Health System (BHS), a four-‐hospital system in the greater Birmingham, Ala., area, was having difficulty recruiting and retaining certified coding professionals and experiencing coding efficiency challenges. BHS had hired four separate teams of coders to handle each hospital’s needs. The workload volumes for each hospital fluctuated considerably, leading to backlogs and overtime during busy periods and underutilized staff during slower times. To overcome this, Precyse Solutions worked with BHS as a beta site for PrecyseCode.
PrecyseCode revolutionized the coding workflow at BHS, allowing BHS to “virtualize” the coding department, creating an integrated, seamless and productive team. Working with Precyse’s team and implementing PrecyseCode has helped BHS increase productivity, accuracy and quality, while significantly reducing costs and providing valuable management reporting tools. Since recently implementing this new process and technology, BHS has experienced a 20 percent increase in coding efficiency; a 5 percent increase in DRG-‐based revenue through more accurate coding and improved Case Mix Index (CMI); a 10 percent reduction in voluntary auditing; coder productivity improvement; reduced audit costs; and a revenue increase of 0.25 percent, due to better information and more accurate coding.
“We have found Precyse Solutions technologies to be instrumental to our coding department, delivering consistent outcomes that are at or above industry standards, enabling our team of coders to work remotely and streamlining information sharing through a new electronic model, “ said Chloe Phillips, Corporate Director of HIM, Baptist Health System. “With Precyse, we’ve seen a significant improvement in our coding department’s team dynamics, quality, productivity and accuracy. I am confident in the ability of Precyse Solutions to help BHS successfully transition to ICD-‐10 and have a smooth journey to meaningful use. ”
Phillips will be discussing the BHS beta of PrecyseCode in peer-‐to-‐peer conversations at the Precyse Solutions booth (#1809) during the 82nd AHIMA Convention and Exhibit, September 25-‐30, Orlando, Fla. Additionally, experts from Precyse and M*Modal will showcase the breakthrough capabilities of PrecyseCode at demonstration kiosks in the Precyse Solutions AHIMA booth.
Why PrecyseCode?
With transcription driven by M*Modal’s software-‐as-‐a-‐service (SaaS) model, PrecyseCode significantly enhances coding quality, delivering increased accuracy and improved coder productivity and enabling fast and easy completion of physician queries. Furthermore, the solution ensures compliance with industry standards, allowing users to seamlessly transition to ICD-‐10 and facilitate the drive to meaningful use standards. Additionally, PrecyseCode helps providers benefit from the auto-‐assignment of work pools, eliminating manual work assignments and prioritizing high-‐cost, high-‐LOS records for careful management of DNFB and improved charge capture.
Even with these advanced features, PrecyseCode does not eliminate the need for coding professionals to be fully involved in the coding process. Instead, it makes coding professionals more productive—reducing the average amount of time it takes to code a case—and more accurate—decreasing denials, reducing audit discrepancies and identifying lost charges that may have otherwise been under-‐coded. With PrecyseCode, coders are able to focus more time on reviewing clinical documentation against medical codes in a friendly user interface. Additionally, PrecyseCode allows coders to review, modify and validate coding against local and national coverage guidelines in real time.