Iodine Software is Top Performer With Highest Overall Performance Score in 2021 KLAS Clinical Documentation Improvement Report

Report states that Iodine’s AwareCDI Suite is gaining momentum among mid-size and large organizations, helping them achieve desired outcomes including improved workflow efficiency and visibility.

FEBRUARY 16, 2021 — AUSTIN, Tx. — Iodine Software today announced that it had received the top overall performance score in the 2021 KLAS Clinical Documentation Improvement (CDI) Report. The company also received the top scores in Client Support, Proactive Service, and Implementation and Training, further cementing its place as one of the leading clinical documentation improvement solutions in the industry.

Today, 84% of healthcare leaders cite inaccurate clinical documentation and coding as the root cause of lost or decreased revenue. Many CDI programs and associated software solutions focus on “improving” documentation, which, by itself, doesn’t stem revenue leakage. 

To solve these challenges, Iodine unveiled the AwareCDI Suite in 2020, which delivers true clinical documentation reliability and a significant reduction in condition and revenue leakage across the entire mid-revenue cycle. Powered by the company’s Cognitive Emulation machine learning approach — which was recently granted another patent (U.S. Patent No. 10,886,013) for detecting documentation drop-offs in clinical documentation — the AwareCDI Suite delivers:

  • $1.5 billion in additional appropriate reimbursement annually, 
  • $5.9 million average annual incremental reimbursement per hospital,
  • 75% median lift in productivity (per/CDI specialist query volume), and
  • 21% mean lift in performance (mean MCC volume increase).

In the 2021 KLAS Clinical Documentation Improvement Report, Iodine clients stated that, “New features — such as AI, NLP, broad reporting and ability to prioritize potentially problematic charts — helped them achieve their desired outcomes, including improved workflow efficiency and better capability”. Client relationships were also cited as a strength, with customers describing Iodine as “collaborative” and “proactive,” with strong training programs. In addition, survey respondents stated that the AwareCDI Suite is part of their long-term plan. 

“We are proud of our top performance score in the 2021 KLAS Clinical Documentation Improvement Report, as our team has continued to work tirelessly to help organizations achieve their desired financial, operational, and quality outcomes,” said William Chan, CEO and co-founder, Iodine Software. “The AwareCDI Suite is a full-suite solution designed to overcome leakage at every stage of the mid-revenue cycle. We are thrilled that over 500 hospitals are leveraging the AwareCDI Suite as a way to build financially resilient organizations for years to come.”

To download the full 2021 KLAS Clinical Documentation Improvement Report, visit klasresearch.com/report/clinical-documentation-improvement-2021/1637

About Iodine Software
Iodine Software is a healthcare AI company that has pioneered a new machine learning approach — Cognitive EmulationTM — to help healthcare finance leaders build resilient organizations. Founded in 2010, Iodine’s technology unifies clinical concepts, evidence-based medicine, and deep machine learning to power revenue cycle solutions that maximize capture and data accuracy. To date, the Iodine AwareCDITM Suite has helped nearly 500 hospitals recognize $1.5 billion in additional appropriate reimbursement annually. To learn more, visit iodinesoftware.com. 

 

(1) https://www.hfma.org/topics/news/2019/12/hospital-operating-margins-decline-21–in-2019–tracking-firm-fi.html
(2) Figures are based on a $6000 modeled base rate and actual measured MCC capture performance from the 2019 Iodine Performance Cohort Analysis of 339 facilities that compared measured MCC capture and CMI impact for the Iodine usage period 9/1/2018-8/31/2019 against pre-Iodine baseline performance.

Iodine Software Unveils AwareCDI Software Suite to Solve Mid-Revenue Cycle Leakage and Drive Financial Resiliency for Health Systems

JULY 27, 2020 — AUSTIN, Tx. — Iodine Software today unveiled its AwareCDI™ Suite for hospitals and health system finance and health information management leaders, powered by its proprietary Cognitive Emulation™ approach. The new software suite is designed to address clinical documentation integrity (CDI) and coding issues throughout the mid-revenue cycle in order to capture earned reimbursement and drive increased quality. 

Today, mid-revenue cycle management encompasses multiple steps across clinical documentation, coding, charge capture, pre-bill reviews, and other claims preparation processes. However, ensuring the entirety of the patient encounter is accurately and compliantly reflected in the final code set submitted for reimbursement requires clinical judgement derived from years of experience in the field. Today, incorrect or incomplete coding leads to revenue leakage of up to $11.3 million annually per 250-bed hospital. 

To solve these challenges, Iodine has pioneered a new approach called Cognitive Emulation™ which uses proprietary AI technology and machine learning algorithms to think the way a clinician thinks and emulates clinical judgement. Iodine’s Cognitive Emulation approach powers the AwareCDI Suite, which delivers true clinical documentation reliability and a significant reduction in condition and revenue leakage across the entire mid-revenue cycle. To date, the Iodine Concurrent™ module within the AwareCDI Suite has helped nearly 500 hospitals recognize $1.5 billion in additional appropriate reimbursement annually. 

“Since its founding, Iodine Software has focused on reimagining the way hospitals and health systems can tap into the power of artificial intelligence and machine learning to transform finance operations, accelerate financial return, and improve quality. Given the complexities of the mid-revenue cycle, it’s clear that a new approach was needed to drive better results,” said William Chan, CEO and co-founder, Iodine Software. “With our new AwareCDI Suite, we are uniquely positioned to help hospitals and health systems go beyond cost containment, and build revenue-accretive strategies for short- and long-term financial resiliency.”

A new way to think about the mid-revenue cycle

The AwareCDI Suite emulates the judgement of clinicians throughout the mid-revenue cycle to reliably identify areas of potential reimbursement opportunity while accelerating financial return, productivity, data accuracy, and quality metrics. It includes:

  • Concurrent™: Leveraging the Iodine SmartList feature, Concurrent helps CDI teams increase query volumes by prioritizing charts likely to contain inconsistencies between clinical evidence and documentation.
  • Retrospect™:Going beyond DRG mismatches, Retrospect allows reconcilers to prioritize, review, and track post-discharge records through final reconciliation and billing to capture additional revenue and minimize denial risk.
  • Forecast™: Eliminates administrative burden and enables case managers and finance teams to plan ahead with accurate, real-time, and automatic forecasted final DRGs at the beginning of an inpatient stay — without relying on final coded data.
  • Intelligence™: Used in conjunction with Concurrent and Retrospect, Intelligence leverages pre-populated, high-confidence queries identified via Cognitive Emulation to further support CDI efficiency and improve physician response. Intelligence also contains embedded clinical guidelines and knowledge to support query writing and increase CDIS confidence in query justification.
  • Interact™: Drives faster collaboration, shorter response times, improved response rates and increased physician satisfaction with seamless delivery of queries to physicians via an integrated EMR interface, with mobile integration forthcoming.
  • Introspect™: Empowers AwareCDI Suite users to access deep, configurable, and actionable insights in order to facilitate evidence-based management across all aspects of documentation reliability.

 

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About Iodine Software
Iodine Software is a healthcare AI company that has pioneered a new machine learning approach — Cognitive Emulation™ — to help healthcare finance leaders build resilient organizations. Founded in 2010, Iodine’s technology unifies clinical concepts, evidence-based medicine, and deep machine learning to power revenue cycle solutions that maximize capture and data accuracy. To date, the Iodine AwareCDI™ Suite has helped nearly 500 hospitals recognize $1.5 billion in additional appropriate reimbursement annually. To learn more, visit iodinesoftware.com. 

Iodine participates at the annual CDI Leadership Exchange

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The Association of Clinical Documentation Improvement Specialists held the 2nd Annual CDI Leadership Exchange September 17th-19th in Chicago at the Oakbrook Hilton. Iodine Software co-sponsored the event and led two roundtable sessions discussing the use of technology in the CDI industry.  The event hosted over 30 industry leaders in the clinical documentation field and focused on use of technology, staff management and physician engagement.[/content-border]

The Leadership Exchange was an opportunity for executive leaders of CDI programs nationwide to share their thoughts regarding the current state of the CDI industry and forecast future growth. The event was organized as informal roundtables, with Iodine spearheading a discussion on the use of technologies that support CDI workflow.

As the leader in CDI innovation, Iodine believes it is important to learn from CDI leaders about the issues they are facing and discuss how technology can be utilized to create solutions that improve program process and ultimately program outcomes.

Iodine provided a high-level description of artificial intelligence and machine learning and explained how this technology is different from natural language processing models. Machine learning models create efficiencies that allow CDI staff to focus their reviews on the right records at the right time.  This is accomplished through identification of medical records with clinical evidence of conditions that are being monitored and treated without the associated specificity in the providers documentation.

Feedback from participants reinforced that Iodine’s AI/ML technology is a necessary tool for efficient daily workflow of CDI Specialists.  Being able to focus CDI attention to records with the greatest documentation opportunity removes the frustration that CDI teams face regarding wasted time on records without documentation opportunity.

Additionally, increasing scope has placed greater demand on depth of record review for quality metrics accentuating the need to leverage technology for assistance in identifying key records for review.   Attendees were able to walk away from the session with a greater understanding AI technology and plan for methods to better leverage the technology for their programs.

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