MedQuist and Artificial Medical Intelligence to Partner on Computer-Assisted Coding
Solution to Increase Coder Productivity and Improve Hospital Financial Performance
Mt. Laurel, NJ, April 1, 2010 – MedQuist Inc. (NASDAQ: MEDQ), a leading provider of technology-enabled clinical documentation services, has announced an agreement with healthcare informatics software developer Artificial Medical Intelligence Inc. (AMI) to provide computer-assisted coding (CAC) within MedQuist’s CodeRunner™ coding workflow platform.
AMI’s patented Powered by EMscribeTM technology includes comprehensive Inpatient and Outpatient natural language processing (NLP) to provide ICD-9-CM, CPT and E & M medical coding conventions today, and offers the platform framework for ICD-10 in the future. The technology is able to apply NLP to data abstraction, making it a usable and flexible solution for hospitals and clinics. AMI’s technology innovation automatically processes certain record types without requiring coder review for very high accuracy.
MedQuist’s CodeRunner coding workflow platform, which already allows fluid interchange of coder resources across multiple accounts, also can expedite the billing process and reduce errors by exporting final codes directly to the customers’ billing systems. Flexible coder assignment and a workflow facilitating fewer errors allow hospitals and physician practices to experience a more compressed revenue cycle, including faster turnaround in coded charts and a reduction in denials.
CodeRunner includes integration with MedQuist’s DocQment Enterprise Platform® for transcribed documents, as well as integration with third-party transcription systems and scanned documents. These workforce management features enable customers to optimize their coder staffing and coverage to reduce Discharged Not Final Billed (DNFB) records and improve the revenue cycle management process. Now, an already efficient and streamlined workflow integration between transcription systems and CodeRunner becomes even more productive and impactful by embedding the computer-assisted coding natural language processing provided by AMI.
MedQuist will be enhancing CodeRunner by integrating the EMscribe CAC natural language processing technology. This will provide a more comprehensive, accurate, consistent and compliant medical coding system than previously available. The CodeRunner remote coding and workforce management system will manage coder workflow while utilizing EMscribe’s CAC capability for the processing and coding of inpatient and outpatient encounters.
“The partnership between MedQuist and AMI creates a new level of computer assistance, usability and automation for HIM departments,” says AMI Chief Operating Officer Stuart Covit. “Customers will see unparalleled revenue cycle benefits and medical record processing efficiency, which directly and significantly impact any hospital or clinic’s bottom line.”
Adds Chris Spring, MedQuist’s vice president of Product Management, “This partnership is an example of MedQuist’s commitment to helping our customers work smarter, faster, and with a greater degree of accuracy. Doing things the right way the first time saves time and money. The combination of CodeRunner and AMI’s computer-assisted coding will provide customers of all types with a complete solution to meet their needs today and into the future as the industry moves to ICD-10.”
Founded in 2002, Artificial Medical Intelligence (www.artificialmed.com) is a healthcare informatics software developer, focusing on increasing efficiency within Health Information Management. Its patented core solution, EMscribe™, provides suggested ICD-9-CM, CPT and E & M codes for both the inpatient/outpatient and clinic settings. AMI’s technology also functions as an information abstraction engine retrieving customizable data, thus making it the most comprehensive HIM Coding solution available. AMI’s solutions are targeted at healthcare facilities and vendor partners that are looking to automate process management and improve the processing of medical documents. The company is headquartered in Eatontown, New Jersey.
MedQuist is a leading provider of medical transcription services, and a leader in technology-enabled clinical documentation workflow. MedQuist's enterprise solutions – including mobile voice capture devices, speech recognition, Web-based workflow platforms, and global network of medical editors – help healthcare facilities improve patient care, increase physician satisfaction, and lower operational costs. For more information, please visit www.medquist.com.
"Safe Harbor" Statement under the U.S. Private Securities Litigation Reform Act of 1995: Statements in this press release regarding MedQuist's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. Actual outcomes and results may differ materially from what is expressed or forecasted in forward-looking statements. As a result, forward-looking statements speak only as of the date they were made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.