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Iodine Software Acquires ChartWise Medical Systems

Acquisition combines “Best in KLAS” workflow with Iodine’s market-leading clinical AI.

JUNE 10, 2021 — AUSTIN, Texas. — Iodine Software, a leading healthcare AI company, today announced it has acquired CDI Software and Services company ChartWise Medical Systems, overall winner of the 2021 Best in KLAS Award for CDI. The acquisition brings together two industry leaders and expands Iodine’s clinical predictions to more than 800 hospitals and health systems.

ChartWise represents Iodine’s second acquisition this year after recently acquiring mobile-based physician engagement platform Artifact Health. Iodine has experienced rapid growth over the last decade by applying its CognitiveML Engine to solve key health system mid-cycle revenue leakage challenges — the first healthcare application of its machine-learning technology. Today’s acquisition announcement further signals Iodine’s commitment to expand its machine-learning technology to the market.

“ChartWise has been a top performer in addressing the needs of CDI teams for many years. Not only do they open up access for Iodine to a whole new set of hospitals and health systems, they also bring capabilities and new product innovations that will expand our offerings to the clinical documentation teams we serve,” said William Chan, co-founder and CEO of Iodine Software.

Iodine selected ChartWise for its “Best in KLAS” performance in ensuring clinical documentation integrity, its expanded capabilities, which include an outpatient application, and the overall value it brings to smaller health systems. The acquisition also expands Iodine’s reach into a market segment the company had not previously accessed and establishes a foothold in several global markets. Additionally, today’s acquisition signals Iodine’s rapidly advancing strategy to expand its machine-learning technology to serve the broader healthcare market.

Iodine and ChartWise both were recently recognized by KLAS Research as top-performing CDI companies. KLAS is trusted among healthcare professionals as impartial research and performance benchmarking. In its most recent KLAS Clinical Documentation Improvement 2021 Report, Iodine earned the highest overall performance score. ChartWise was awarded “Best in KLAS” among CDI software, representing its fourth consecutive win in the category. The company has an “A” rating or better in every KLAS metric, demonstrating its customer-centric product innovation and responsive service.

“The key to success in the CDI market today is all about product depth and automation across the entire inpatient and outpatient continuum of care. Providers and payers need smart, proven workflow tools to optimize results for CDI specialists, physicians, and quality, HIM, and revenue cycle leaders. Iodine customers now have the benefit of the top three best-in-breed CDI solutions: Iodine, ChartWise, and Artifact — all under one umbrella,” said Steven J. Mason, Jr., President and CEO of ChartWise Medical Systems. “We are very enthusiastic about the opportunities this acquisition provides for our collective customers and other leading CDI-driven healthcare organizations.”

The ChartWise team will join Iodine immediately. Moving forward, the combined team will continue delivering innovative healthcare solutions utilizing machine-learning technology to help organizations achieve their desired financial, operational, and quality outcomes. ChartWise CEO Steven J. Mason, Jr. will join Iodine as Executive Vice President, ChartWise, and will lead the ChartWise platform.

Queen Saenz + Schutz PLLC is acting as legal advisor to Iodine Software. Canaccord Genuity acted as the exclusive financial advisor to ChartWise.

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 revenue capture and data accuracy. To date, the Iodine AwareCDI™ Suite has helped hundreds of hospitals recognize $1.5 billion in additional appropriate reimbursement annually. To learn more, visit iodinesoftware.com.

About ChartWise
ChartWise Medical Systems, Inc., based in Wakefield, Rhode Island, specializes in cloud-based solutions for Computer-Assisted Clinical Documentation Improvement. AI-driven, integrated, and comprehensive, ChartWise’s scalable Software as a Service (SaaS) assists physicians and clinical documentation specialists and features prioritization, electronic queries, flexible workflow, robust reporting, and denials prevention. Developed by renowned physician Jon Elion, M.D., ChartWise is the only CDI software designed by CDI customers for CDI customers, offering reduced risk, actionable data, and a proven fast ROI.

Iodine Software Acquires Physician Engagement Platform Artifact Health

Acquisition enables Iodine to add mobile-based physician query capabilities, addressing key health system mid-cycle revenue leakage challenge

AUSTIN, Texas, May 25, 2021 (Newswire.com) – Iodine Software, a leading healthcare AI company, today announced it has acquired physician engagement platform company Artifact Health. The acquisition brings together two industry leaders and expands Iodine’s clinical predictions and insights platform beyond clinical documentation improvement (CDI) teams to directly engage physicians through Artifact’s HIPAA-compliant mobile platform.

Iodine experienced rapid growth over the last decade by applying its CognitiveML Engine to solve mid-revenue cycle leakage — a problem that costs healthcare systems billions in lost revenue due to resource-intensive, highly manual clinical documentation workflows. Today’s acquisition announcement signals Iodine’s commitment to expand its machine-learning technology to broader healthcare workflows.

Artifact Health is a pioneer of physician-centric CDI and coding workflow solutions. In 2016, Artifact collaborated with Johns Hopkins Medicine to help develop a cloud-based mobile platform that makes it faster and easier for healthcare providers to respond securely and compliantly to questions about patient documentation. Artifact seamlessly integrates with core healthcare systems, including all major electronic health record systems, to ease administrative burdens on healthcare providers and give them back valuable time for patient care. Artifact’s mobile platform is currently deployed to more than 80,000 healthcare providers across hundreds of hospitals.

“Artifact allows us to immediately improve the documentation experience for physicians,” said William Chan, CEO and co-founder of Iodine Software. “The acquisition also allows us to realize our vision of delivering a broader set of our machine-learning predictions directly to physicians.”

Iodine selected Artifact for its flexible technology, mobile delivery and seamless EHR workflow integration, which produce demonstrably better physician satisfaction and engagement. By adding Artifact’s mobile-based platform to Iodine, healthcare organizations can now automate physician queries and other administrative tasks that require more complex clinical judgment while delivering them directly to physicians’ mobile devices. Together, Iodine and Artifact deliver a powerful mid-revenue cycle solution that improves documentation integrity and ensures proper reimbursement so healthcare systems maintain long-term financial resiliency.

“Over the past seven years, Artifact Health has built a solid reputation for streamlining and standardizing the physician query process with efficient, convenient and easy-to-use technology that physicians find enjoyable to use,” said Marisa MacClary, CEO and co-founder of Artifact Health. “Iodine and Artifact share the same mission to design innovative healthcare technologies that improve patient care by reducing administrative burden. We are thrilled to join an outstanding company with superior technology and an amazing team.”

The full Artifact team will join Iodine immediately. Moving forward, the combined Iodine-Artifact team will continue delivering innovative machine-learning predictions that engage caregivers at their convenience. Ultimately, the combined companies will help healthcare organizations achieve their desired financial, operational, and quality outcomes.

Artifact CEO Marisa MacClary will join Iodine as Executive Vice President, Artifact, and will lead the Artifact platform.

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 revenue capture and data accuracy. To date, the Iodine AwareCDI™ Suite has helped hospitals recognize $1.5 billion in additional appropriate reimbursement annually. To learn more, visit iodinesoftware.com.

About Artifact Health
Artifact Health provides the first mobile platform that streamlines the physician query process so hospitals can improve the quality of patient records and ensure full reimbursement for services. Already in use by thousands of physicians, Artifact simplifies a traditionally time-consuming, multi-step process, allowing physicians to respond to queries anytime, anywhere in seconds. By shortening average physician response time to queries by 20x, Artifact helps CDI specialists and coders receive more accurate responses faster, which can translate into millions of dollars in revenue for hospitals. Visit www.artifacthealth.com to learn more.

Iodine Software Announces Robin Damschroder Joins Board

MARCH 15, 2021 — AUSTIN, Tx. — Iodine Software today announced that it has appointed Robin Damschroder, Executive Vice President and Chief Financial Officer at Henry Ford Health System to its board. 

“We are pleased to welcome Robin to the Iodine board, especially during such a pivotal time in our growth trajectory,” said William Chan, CEO and Co-founder, Iodine Software. “She joins Iodine at an exciting time as we continue to further cement our place as one of the leading clinical documentation improvement solutions in the industry. Robin’s leadership experience at some of the nation’s largest health systems will prove invaluable to our future growth strategy.”

Robin Damschroder, MHSA, FACHE is Executive Vice President and Chief Financial Officer of Henry Ford Health System, a $6.5Bn health system that includes six hospitals, seven major medical centers and manages more than 650,000 covered lives. She also served as the COO, West Market – Saint Joseph Mercy Health System and has held various executive financial and operations leadership roles at University of Michigan Health System. She holds two degrees from the University of Michigan, Ann Arbor, MI – a bachelor’s in General Studies from College of Literature, Science and Arts, and a Master’s of Health Services Administration from the School of Public Health.

Iodine Software has seen record growth over the past year, unveiling the AwareCDI Suite in 2020 and receiving the top overall performance score in the 2021 KLAS Clinical Documentation Improvement (CDI) Report. Looking ahead, the company will continue to leverage the latest in AI and machine learning to help organizations achieve their desired financial, operational, and quality outcomes and build financially resilient organizations for years to come.

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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 hospitals recognize $1.5 billion in additional appropriate reimbursement annually. To learn more, visit iodinesoftware.com. 

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 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.

Jupiter Medical Center Deploys Artifact Health’s Mobile Query Solution to Reduce Physician Documentation Burden

Artifact mobile query solution gives physicians back time to focus on patient care during the pandemic

Artifact Health, which provides the first mobile physician query platform, announced today it has been deployed by Jupiter Medical Center, the only hospital in Palm Beach, Martin, St. Lucie and Indian River counties to receive a 4-star quality and safety rating from the Centers for Medicare & Medicaid Services (CMS), to streamline their physician query process and reduce administrative burden on their providers.

“We were looking for a convenient way to communicate with our providers regarding physician queries,” said Marlene Goodwin-Esola, MSN, RNC, NE-BC, Director of Clinical Documentation Improvement at Jupiter Medical Center. “Artifact has simplified our process of sending and receiving queries and provided our clinicians with a tool to answer queries quickly and easily so they can remain focused on patient care.”

Artifact’s HIPAA-compliant, cloud-based, mobile query platform allows physicians to quickly and compliantly respond to a query with as few as three taps on their smartphone. By providing physicians with a process that is quick and easy to use, Artifact customers gain significant improvements in hospital and physician coding accuracy and publicly reported quality measures.

“The Artifact platform has enabled us to accurately code much more quickly,” said Susan Denny, RHIA, CHTS-WP, Director of Health Information Services at Jupiter Medical Center. “The automated tracking and reporting provides transparency between the CDI and coding teams, and the mobile app eliminates the burdensome query process for our providers.”

“We are extremely excited to partner with Jupiter Medical Center to alleviate administrative burden for their busy providers at this difficult time during the pandemic,” said Marisa MacClary, Co-founder and CEO of Artifact Health.

**About Jupiter Medical Center**
Jupiter Medical Center — Rated number one for safety, quality and patient satisfaction, Jupiter Medical Center is the leading destination for world-class health care in Palm Beach County and across the Treasure Coast region. Recognized as the region’s only independent, not-for-profit hospital, Jupiter Medical Center offers a comprehensive continuum of inpatient and outpatient healthcare services, expertise and specialties, including orthopedics and spine care, cancer care, cardiac and vascular care, comprehensive stroke, obstetrics & maternity care, pediatrics, emergency care as well as diagnostic imaging, screening, testing and urgent care. To learn more, visit www.jupitermed.com.

**About Artifact Health**
Artifact Health provides the first mobile platform that streamlines the physician query process so hospitals can improve the quality of patient records and ensure full reimbursement for services. Already in use by thousands of physicians, Artifact simplifies a traditionally time-consuming, multi-step process allowing physicians to respond to queries anytime, anywhere in seconds. By shortening average physician response time to queries by 20x, Artifact helps CDI specialists and coders receive more accurate responses faster, which can translate into millions of dollars in revenue for hospitals. Visit www.artifacthealth.com to learn more.

ChartWise Wins Fourth “Best In KLAS” CDI Software Award

WAKEFIELD, RI— ChartWise Medical Systems, Inc., leading provider of comprehensive, scalable Clinical Documentation Integrity (CDI) solutions, takes top segment honors today with the release of KLAS Research’s 2021 “Best in KLAS” Software and Services Awards. ChartWise leads the CDI Software segment with a score of 92.3. KLAS Research, known among Healthcare professionals for their impartial research and performance benchmarking, collects client data throughout the year to score Healthcare IT solution providers, culminating in the “Best in KLAS” awards.

According to KLAS Research President Adam Gale, “The Best in KLAS report and the awards it contains set the standard of excellence for software and services firms. Vendors who win the title of “Best in KLAS” should celebrate and remember that providers now accept only the best from their products and services. The Best in KLAS award serves as a signal to provider and payer organizations that they should expect excellence from the winning vendors.”

Having won three previous KLAS awards from the organization, ChartWise CEO Steven Mason works to ensure that KLAS Research scores and direct client feedback fuel continued innovation from ChartWise in both technology and end-user experience, “Our team works every day to support our clients and ensure their satisfaction with the company, products, implementation, training, and ongoing support. This award reflects our ongoing appreciation for our customers and our commitment to provide the very best functionality and services to support their CDI program goals.”

Founded by a physician and with a staff that includes clinical specialists and software engineers, the ChartWise approach to client satisfaction is about anticipating future needs as much as listening to current ones. In fact, much of the team driving ChartWise innovation worked previously in a user or client role. Commenting on the “Best in KLAS” accolade, ChartWise Founder and Chief Innovation Officer Jon Elion, M.D. offered, “To me, this recognition is an acknowledgement of the long-standing culture at ChartWise to listen to our customers and to work hard to meet their needs. This has fueled a continuing surge in industry-leading technology innovations and will be the hallmark of our continued progress and success.”

The KLAS scoring is a composite of six key areas, from comments and ratings provided directly by customers. ChartWise scored an “A” rating or better across all of these, which include Culture (A+), Loyalty (A), Operations (A), Product (A-), Relationship (A+), and Value (A-). In remarks from Gale, he states, ““Each year, thousands of healthcare professionals across the globe take the time to share their voice with KLAS. They know that sharing their perspective helps vendors to improve and helps their peers make better decisions. These conversations are a constant reminder to me of how necessary accurate, honest, and impartial reporting is in the healthcare industry.”

KLAS Research will honor ChartWise and the other segment winners for 2021 in a virtual ceremony to be held February 23rd.

ABOUT CHARTWISE: ChartWise Medical Systems, Inc., based in Wakefield, RI, specializes in cloud-based solutions for Computer-Assisted Clinical Documentation Improvement.  AI-driven, integrated, and comprehensive, ChartWise’s scalable Software as a Service (SaaS) assists physicians and clinical documentation specialists and features prioritization, electronic queries, flexible workflow, robust reporting, and denials prevention. Developed by renowned physician Jon Elion, M.D., ChartWise is the only CDI software designed by CDI customers for CDI customers, offering reduced risk, actionable data, and a proven fast ROI. For more information, visit www.chartwisemed.com.

ABOUT KLAS RESEARCH: KLAS has been providing accurate, honest, and impartial insights for the healthcare IT (HIT) industry since 1996. The KLAS mission is to improve the world’s healthcare by amplifying the voice of providers and payers. The scope of our research is constantly expanding to best fit market needs as technology becomes increasingly sophisticated. KLAS finds the hard-to-get HIT data by building strong relationships with our payer and provider friends in the industry. Learn more at klasresearch.com.

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