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R1 RCM and Iodine Software’s comprehensive clinical documentation integrity solution connects managed services and intelligent technology
R1 published the following on October 16, 2023 announcing R1 and Iodine Software as solutions partners.
CDI can lead to improved patient outcomes as well as increased reimbursements for healthcare systems. But up until this point, CDI solutions have been siloed as separate approaches: Consulting and managed services are one approach; technology solutions are another. But what if these approaches joined their strengths together? How could that improve the completeness, accuracy, and specificity of the medical record and reduce documentation, coding, and billing errors?
CDI Total Performance, powered by Iodine, does just this. A joint solution, CDI Total Performance combines the domain expertise and deep data insights of R1 RCM clinical documentation specialists with the Best in KLAS AwareCDI platform from Iodine Software.
The need for a new CDI approach
Efforts to codify clinical care are as old as documentation itself, with the first “modern” disease classification system developed in the early 18th century. With quantum leaps in specificity and complexity of medical coding in recent times, CDI becomes more important than ever as a driver of revenue performance.
A strong CDI program is a critical imperative that comes with challenges
Released earlier this year, the 2023 Revenue Intelligence Data and Insights Report unveils some of the RCM issues most profoundly impacting healthcare providers. Of the 13 revenue cycle stages covered, seven have clinical documentation integrity as a key enabler for process and outcome improvement. From determining appropriate patient status and capturing legitimate charges to recovering underpayments and reversing denials, CDI plays a foundational role in facilitating and improving mid-cycle and back-end revenue processes.
There are several barriers that can hinder the effectiveness and sustainability of a CDI program. One is the industry perception of CDI programs as cost centers rather than revenue drivers. In fact, a national study of CDI leaders conducted last year by the Association of Clinical Documentation Integrity Specialists (ACDIS) for Iodine Software found 91% of CDI leaders track financial impact as a measure of success, while 68% track severity of illness (SOI)/risk of mortality (ROM) impact, and 53% make note of the observed-to-expected mortality rate. Even providers that do recognize CDI’s revenue opportunities can struggle to make headway because their programs lack transparency, accountability, or focused leadership, often due to strained resources. Additionally, many providers are reluctant to make changes to their CDI programs because they worry about the potential for disrupting regulatory compliance. Other factors preventing CDI excellence include:
Constant regulatory and coding changes
Difficulty measuring program effectiveness
Technology limitations and integration
Inefficient and low-quality physician queries
Ideally, CDI programs should align with the Quadruple Aim – improving the experience of care, improving the health of populations, improving physician satisfaction, and reducing per capita costs of health care. A key role for CDI leadership, then, is to determine program priorities considering the aim, anticipate the potential barriers to achieving documentation excellence, set the table for appropriate expectations, and ensure that CDI program performance is assessed on a rational basis.
Professional development drives CDI performance improvement
The strength of any quality CDI program is a well-trained and educated team. Unfortunately, with ongoing staffing shortages, budget constraints, and cost-cutting priorities, hospitals often struggle to make the investment necessary to support their staff and, thus, see real improvement. Additionally, it can be difficult to quantify and therefore justify a return on investment from staff education and training.
R1 CDI Total Performance engagements provide a caring, high-touch onboarding experience with new education and career development opportunities for the CDI team. These include monthly education sessions on clinical topics, quarterly coding clinics, regular quality audits of each CDI specialist and an annual review of Inpatient Prospective Payment System (IPPS) updates and rules. The model enables CDI teams to operate at top-of-license and just as important, reduces stressors that can lead to team and physician burnout.
Introducing a new kind of CDI partnership
R1 CDI Total Performance, powered by Iodine, brings to market a transformational solution built upon shared responsibility for collective CDI goals, deep clinical documentation expertise, and clinically intelligent technology. As an accountability partner, R1 invests in the success of their clients because their success depends on it. That begins with career growth for the team – R1 transforms CDI programs with best practices education gleaned from CDI engagements with leading hospitals and health systems that opens new professional opportunities for staff. Then R1 further empowers that team with Best in KLAS clinically intelligent technology to drive measurably better results and revenue.
“We’ve been in this market a long time and know CDI is a big driver of success in our partnerships with leading hospitals and health systems,” said Kyle Hicok, Executive Vice President and Chief Commercial Officer at R1. “From our vantage point, we see an unsolved need for a more holistic approach to CDI and a real opportunity to innovate in this space. CDI Total Performance allows us to serve more hospitals and health systems wherever they are on the CDI journey and help them achieve documentation excellence that improves the quality of care and captures more earned revenue.”
“CDI Total Performance is a unique comprehensive solution capable of delivering exceptional value to clients. Together, R1 and Iodine bring proven performance management prowess, documentation expertise, and impactful technology to deliver the financial, quality, and productivity gains demanded by health system executives at a speed that will set a new benchmark for industry expectations - right when health systems need it most,” said Troy Wasilefsky, Chief Revenue Officer for Iodine Software.
Achieve CDI excellence with best practices and Best in KLAS software
With 95 of the top 100 hospitals in the U.S. as customers, R1 is unique in its ability to develop, aggregate, and replicate CDI best practices at scale to improve clinical documentation performance. Iodine’s Best in KLAS AwareCDI technology provides new insights to CDI teams by strategically identifying and prioritizing cases for review and streamlining the query process to simplify and improve CDI, Coder collaboration, and physician response. As solution partners, R1 and Iodine deliver the only offering of its kind on the market, the closest thing there is to an easy button to fast-track CDI excellence.
To learn more about R1 CDI solutions, visit www.r1rcm.com/cdi-solutions.
CDI Solution Drives Documentation Excellence and Improves Revenue Performance
R1 RCM and Iodine Software’s comprehensive clinical documentation integrity solution connects managed services and in...
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3 MIN READ
Iodine Software will leverage generative AI to accelerate the impact of its solutions, which includes the 2023 Best in KLAS for Clinical Documentation integrity solution, AwareCDI
Iodine Software, a pioneer in healthcare AI technology, today announced an expanded relationship with OpenAI, an AI research and development company. As part of this collaboration, Iodine will gain access to OpenAI’s cutting edge artificial intelligence technologies, including its powerful language model GPT-4.
Iodine Software has a deep-rooted history in clinical AI technology, having developed sophisticated, industry leading solutions that enhance financial performance in the mid-revenue cycle. This collaboration with Open AI allows it to further infuse generative AI and large language models across the breadth of its AwareCDI product suite to improve prediction accuracy, streamline query processes, and develop clinical automation tools that will further stem revenue cycle leakage by ensuring documentation accuracy.
“We are thrilled to collaborate with a fellow pioneer in the field of artificial intelligence,” said William Chan, Iodine CEO and co-founder, “Strategic, fast paced yet cautious innovation has always been our guiding principle. The evolution towards generative AI is a natural next step for us. We are optimistic about its potential impact, yet cautious due to the significant impact on patient care, physician trust and patient reimbursements. Aware of its limitations, such as data hallucinations, we are committed to a responsible approach, ensuring we balance progress with prudence.”
The efficacy of Artificial Intelligence is dependent on data on which the language models are trained. Iodine Software is an industry leader with an unmatched dataset that contains more than 27 percent of all U.S. inpatient data, giving the company an unprecedented opportunity to transform how it supports hospitals across a variety of functions. A recent market analysis of the volatility of CMI validated that Iodine Software’s data cohort is representative of the overall market, which makes it one of the best and powerful assets for training machine-learning and large language models.
By incorporating the latest innovations in large language models, Iodine Software can ensure more specific patient documentation and coding efficiency, increase prediction accuracy, and improve its predictive analytics. These advancements will contribute to streamlining the physician documentation experience, allowing physicians to focus more on patient care, and helping hospitals and health systems to capture more earned revenue from the care they provide.
About Iodine SoftwareIodine is an enterprise AI company that is championing a radical rethink of how to create value for healthcare professionals, leaders, and their organizations: automating complex clinical tasks, generating insights and empowering intelligent care. Iodine's powerful predictive engine complements the skills and judgment of healthcare professionals by interpreting raw clinical data to generate real-time, highly focused, predictive insights that clinicians and hospital administrators can leverage to dramatically augment the management of care delivery - facilitating critical decisions, scaling clinical workforces through automation, and improving the financial position of health systems. For more information, please visit iodinesoftware.com. PR Contact: press@iodinesoftware.com.
Iodine Software to Harness the Power of Generative AI to Expand the Impact of Its Industry-Leading AI Solutions
Iodine Software will leverage generative AI to accelerate the impact of its solutions, which includes the 2023 Best i...
Learn more
3 MIN READ
Key Takeaways:
Each year Iodine conducts multiple cohort studies, focused on productivity improvements and overall impacts to performance experienced by clients throughout their journey with Iodine
In 2022, 94% of facilities experienced a lift in productivity with Iodine, with the average facility seeing a 136% lift in normalized query volume
With Iodine, physician response rates either stay steady, or significantly improve in cases where Interact has also been deployed, even in the face of increased queries
Iodine also measures the impact queries have, including CC and MCC capture volumes, CMI, and GMLOS. The vast majority of facilities experienced an improvement in MCC capture with Iodine, with a median of a 27% increase in the number of cases that have an MCC
The increase in MCC capture resulted in significant financial impact: an additional $3.5 million in annual reimbursement
Iodine Intelligence tackles a new challenge in healthcare’s mid-revenue cycle every month, shedding light on problems and solutions and sharing valuable insights from industry experts. Listen to Episode 15 Impact Amplified: Exploring Success Stores from the Iodine Cohort to learn more.
Methodology
Iodine's Cohort Studies started as an internal initiative in 2017 in an effort to understand the impact clients saw with AwareCDI and how certain key metrics were trending. Each year Iodine conducts multiple cohort studies, some focus on productivity improvements, others report on overall impacts to performance clients experience throughout their journey with Iodine. Cohort studies are completed by comparing pre-Iodine data as a baseline against the most recent CMS fiscal year's data with Iodine. Every facility for which there is at least two months of baseline data and two months of measurement data is included in the study. Only like months are compared to account for seasonal variety (i.e. January-March of 2021 is compared to January-March of 2022) and for DRG based cohort studies, only that year's CMS DRG tables are used.
The intent is to examine: if a CDI team performed at the same level as they did pre-Iodine, what would that performance have been, and what is the difference between that modeled performance and what was actually observed with Iodine.
Productivity
Iodine examines productivity through two main means, unique case query rate and normalized query volume. Iodine measures both query rate and query volume to provide as complete a picture of CDI performance as possible. Since unique case query rate is an indicator of whether CDI specialists are looking at the right cases, it is possible to have a high query rate by only reviewing those cases that you feel confident you will query, but as a result your query volume will drop. Conversely, you can drive up your query volume by increasing staffing, but that's not very efficient. Examining both query rate and query volume ensures that Iodine has positive impacts on both and is driving as much value for clients as possible.
Many health systems use query rate as a measure of success of their CDI program, although methods of calculating this metric can vary between organizations. Iodine examines query rate as a measure of the percent of cases that have been reviewed and resulted in a query - from an efficiency perspective it measures if CDI specialists are looking at the right records. In 2022, the average Iodine client more than doubled their query volume, as compared to their performance immediately preceding the adoption of AwareCDI.
Iodine measures normalized query volume as a measure of the overall output from a CDI program, as more queries lead to more accurate documentation which has a variety of downstream affects including accurate reimbursements, quality reporting, and more. Iodine adjusts for changes in CDI staffing over time, and compares the incremental queries sent in the fiscal year 2022 against the baseline period, the year immediately prior to a facility adopting AwareCDI.
With Iodine, 80% of facilities saw an improvement to their unique case query rate, with the median hospital experiencing a 42% lift in query rate. So, if prior to Iodine a CDI program was querying 32% of the cases they reviewed, and they experienced the median impact with Iodine, they're now querying 45% of review cases.
Higher productivity and more efficient and effective processes enables clients to expand the scope of their programs and accomplish more with their existing staff. One client had a team of 17 CDIS and after implementing Iodine they increased their query rate from 21% to 35% using only half of their staff, enabling the remaining staff to be redeployed to performing retrospective reviews. Other orgs have leveraged the freed up man-hours to increase collaboration with other departments like coding, implement second-level reviews on mortality or PSI cases, and improve job satisfaction as CDI specialists work at top of license.
Physician Response
Administrative burden is already at an all time high for many physicians, which means the prospect of a CDI department suddenly sending twice as many queries, if not more, can be a daunting one for providers. However, Iodine's cohort studies show that with Iodine physician response rates either stay steady, or significantly improve in cases where Interact has also been deployed.
When reviewing and responding to a query is no longer a burden for physicians, response rates and times can improve, even in the face of additional queries. On average, there is an almost 17 hour savings in response time, with CDI specialists waiting 31 hours or less for a physician to answer a query, meaning CDI specialists don't have to spend as much time and energy chasing down responses. The average physician spends 60 seconds or less reviewing and responding to a query, and the median physician response rate for an Iodine client with Interact is 94%.
Impact of a Query
In addition to lifts in productivity, Iodine also measures the impact those additional queries have, including CC and MCC capture volumes, CMI, and GMLOS, with the theory that as documentation gets addressed, it more accurately reflects the true acuity of the patient population, and as a result these measures naturally go up. The more the productivity of CDI teams improves, the more one can expect MCC capture to increase, as well as CMI and GMLOS to a certain extent.
In line with our productivity metrics, the vast majority of facilities, 90%, experienced an improvement in MCC capture with Iodine. On average, their MCC capture volume improved by almost seven percentage points, which ultimately resulted in a 27% increase in the number of cases that have an MCC - more than one out of every four cases.
While CMI is a common metric across the industry, especially for CFOs, it's influenced by a wide variety of factors, many of which are outside CDI's control. This includes things like changing patient populations, shifts in med/surg volumes, changes to service line volumes and more.
Almost as many facilities experienced a lift in GMLOS as MCC capture (84%). GMLOS is a good indication as to whether or not a hospital is getting credited for how much effort it takes to care for a patient. If a patient is under documented, it will appear that they should have a short hospital stay, and then there can be a gap between expected LOS and actual LOS.
Financial Impact
Iodine utilizes two different methods for calculating financial impact, a "bottoms up" approach based on the value of a query, and a "top down" approach based on increase in MCC volumes.
The bottom's up approach is calculated by examining: what are the number of queries issues by a hospital, how many of those queries are likely to have a financial impact, what was that impact measured in CMI MS-DRG relative weight points. Using this approach, a fictional hospital with 10,000 discharges, a 30/70 med/surg split and a $6,000 base rate would see an additional $2.4 million in appropriate reimburse.
Using the top down approach, looking across our entire cohort (which includes everything from hospitals that have been with Iodine for just the minimum two months to hospitals who have been an Iodine client for seven years) the average is $3.5 million in annual additional reimbursements based on improved MCC volumes.
Impact Amplified: Exploring Success Stories from the Iodine Cohort
Every year Iodine Software conducts a client wide cohort study measuring various key metrics in the clinical document...
Learn more
3 MIN READ
Iodine Software will leverage generative AI to accelerate the impact of its solutions, which includes the 2023 Best in KLAS for Clinical Documentation integrity solution, AwareCDI
Iodine Software, a pioneer in healthcare AI technology, today announced an expanded relationship with OpenAI, an AI research and development company. As part of this collaboration, Iodine will gain access to OpenAI’s cutting edge artificial intelligence technologies, including its powerful language model GPT-4.
Iodine Software has a deep-rooted history in clinical AI technology, having developed sophisticated, industry leading solutions that enhance financial performance in the mid-revenue cycle. This collaboration with Open AI allows it to further infuse generative AI and large language models across the breadth of its AwareCDI product suite to improve prediction accuracy, streamline query processes, and develop clinical automation tools that will further stem revenue cycle leakage by ensuring documentation accuracy.
“We are thrilled to collaborate with a fellow pioneer in the field of artificial intelligence,” said William Chan, Iodine CEO and co-founder, “Strategic, fast paced yet cautious innovation has always been our guiding principle. The evolution towards generative AI is a natural next step for us. We are optimistic about its potential impact, yet cautious due to the significant impact on patient care, physician trust and patient reimbursements. Aware of its limitations, such as data hallucinations, we are committed to a responsible approach, ensuring we balance progress with prudence.”
The efficacy of Artificial Intelligence is dependent on data on which the language models are trained. Iodine Software is an industry leader with an unmatched dataset that contains more than 27 percent of all U.S. inpatient data, giving the company an unprecedented opportunity to transform how it supports hospitals across a variety of functions. A recent market analysis of the volatility of CMI validated that Iodine Software’s data cohort is representative of the overall market, which makes it one of the best and powerful assets for training machine-learning and large language models.
By incorporating the latest innovations in large language models, Iodine Software can ensure more specific patient documentation and coding efficiency, increase prediction accuracy, and improve its predictive analytics. These advancements will contribute to streamlining the physician documentation experience, allowing physicians to focus more on patient care, and helping hospitals and health systems to capture more earned revenue from the care they provide.
About Iodine SoftwareIodine is an enterprise AI company that is championing a radical rethink of how to create value for healthcare professionals, leaders, and their organizations: automating complex clinical tasks, generating insights and empowering intelligent care. Iodine's powerful predictive engine complements the skills and judgment of healthcare professionals by interpreting raw clinical data to generate real-time, highly focused, predictive insights that clinicians and hospital administrators can leverage to dramatically augment the management of care delivery - facilitating critical decisions, scaling clinical workforces through automation, and improving the financial position of health systems. For more information, please visit iodinesoftware.com. PR Contact: press@iodinesoftware.com.
Iodine Software to Harness the Power of Generative AI to Expand the Impact of Its Industry-Leading AI Solutions
Iodine Software will leverage generative AI to accelerate the impact of its solutions, which includes the 2023 Best i...
Learn more
3 MIN READ
Key Takeaways:
Each year Iodine conducts multiple cohort studies, focused on productivity improvements and overall impacts to performance experienced by clients throughout their journey with Iodine
In 2022, 94% of facilities experienced a lift in productivity with Iodine, with the average facility seeing a 136% lift in normalized query volume
With Iodine, physician response rates either stay steady, or significantly improve in cases where Interact has also been deployed, even in the face of increased queries
Iodine also measures the impact queries have, including CC and MCC capture volumes, CMI, and GMLOS. The vast majority of facilities experienced an improvement in MCC capture with Iodine, with a median of a 27% increase in the number of cases that have an MCC
The increase in MCC capture resulted in significant financial impact: an additional $3.5 million in annual reimbursement
Iodine Intelligence tackles a new challenge in healthcare’s mid-revenue cycle every month, shedding light on problems and solutions and sharing valuable insights from industry experts. Listen to Episode 15 Impact Amplified: Exploring Success Stores from the Iodine Cohort to learn more.
Methodology
Iodine's Cohort Studies started as an internal initiative in 2017 in an effort to understand the impact clients saw with AwareCDI and how certain key metrics were trending. Each year Iodine conducts multiple cohort studies, some focus on productivity improvements, others report on overall impacts to performance clients experience throughout their journey with Iodine. Cohort studies are completed by comparing pre-Iodine data as a baseline against the most recent CMS fiscal year's data with Iodine. Every facility for which there is at least two months of baseline data and two months of measurement data is included in the study. Only like months are compared to account for seasonal variety (i.e. January-March of 2021 is compared to January-March of 2022) and for DRG based cohort studies, only that year's CMS DRG tables are used.
The intent is to examine: if a CDI team performed at the same level as they did pre-Iodine, what would that performance have been, and what is the difference between that modeled performance and what was actually observed with Iodine.
Productivity
Iodine examines productivity through two main means, unique case query rate and normalized query volume. Iodine measures both query rate and query volume to provide as complete a picture of CDI performance as possible. Since unique case query rate is an indicator of whether CDI specialists are looking at the right cases, it is possible to have a high query rate by only reviewing those cases that you feel confident you will query, but as a result your query volume will drop. Conversely, you can drive up your query volume by increasing staffing, but that's not very efficient. Examining both query rate and query volume ensures that Iodine has positive impacts on both and is driving as much value for clients as possible.
Many health systems use query rate as a measure of success of their CDI program, although methods of calculating this metric can vary between organizations. Iodine examines query rate as a measure of the percent of cases that have been reviewed and resulted in a query - from an efficiency perspective it measures if CDI specialists are looking at the right records. In 2022, the average Iodine client more than doubled their query volume, as compared to their performance immediately preceding the adoption of AwareCDI.
Iodine measures normalized query volume as a measure of the overall output from a CDI program, as more queries lead to more accurate documentation which has a variety of downstream affects including accurate reimbursements, quality reporting, and more. Iodine adjusts for changes in CDI staffing over time, and compares the incremental queries sent in the fiscal year 2022 against the baseline period, the year immediately prior to a facility adopting AwareCDI.
With Iodine, 80% of facilities saw an improvement to their unique case query rate, with the median hospital experiencing a 42% lift in query rate. So, if prior to Iodine a CDI program was querying 32% of the cases they reviewed, and they experienced the median impact with Iodine, they're now querying 45% of review cases.
Higher productivity and more efficient and effective processes enables clients to expand the scope of their programs and accomplish more with their existing staff. One client had a team of 17 CDIS and after implementing Iodine they increased their query rate from 21% to 35% using only half of their staff, enabling the remaining staff to be redeployed to performing retrospective reviews. Other orgs have leveraged the freed up man-hours to increase collaboration with other departments like coding, implement second-level reviews on mortality or PSI cases, and improve job satisfaction as CDI specialists work at top of license.
Physician Response
Administrative burden is already at an all time high for many physicians, which means the prospect of a CDI department suddenly sending twice as many queries, if not more, can be a daunting one for providers. However, Iodine's cohort studies show that with Iodine physician response rates either stay steady, or significantly improve in cases where Interact has also been deployed.
When reviewing and responding to a query is no longer a burden for physicians, response rates and times can improve, even in the face of additional queries. On average, there is an almost 17 hour savings in response time, with CDI specialists waiting 31 hours or less for a physician to answer a query, meaning CDI specialists don't have to spend as much time and energy chasing down responses. The average physician spends 60 seconds or less reviewing and responding to a query, and the median physician response rate for an Iodine client with Interact is 94%.
Impact of a Query
In addition to lifts in productivity, Iodine also measures the impact those additional queries have, including CC and MCC capture volumes, CMI, and GMLOS, with the theory that as documentation gets addressed, it more accurately reflects the true acuity of the patient population, and as a result these measures naturally go up. The more the productivity of CDI teams improves, the more one can expect MCC capture to increase, as well as CMI and GMLOS to a certain extent.
In line with our productivity metrics, the vast majority of facilities, 90%, experienced an improvement in MCC capture with Iodine. On average, their MCC capture volume improved by almost seven percentage points, which ultimately resulted in a 27% increase in the number of cases that have an MCC - more than one out of every four cases.
While CMI is a common metric across the industry, especially for CFOs, it's influenced by a wide variety of factors, many of which are outside CDI's control. This includes things like changing patient populations, shifts in med/surg volumes, changes to service line volumes and more.
Almost as many facilities experienced a lift in GMLOS as MCC capture (84%). GMLOS is a good indication as to whether or not a hospital is getting credited for how much effort it takes to care for a patient. If a patient is under documented, it will appear that they should have a short hospital stay, and then there can be a gap between expected LOS and actual LOS.
Financial Impact
Iodine utilizes two different methods for calculating financial impact, a "bottoms up" approach based on the value of a query, and a "top down" approach based on increase in MCC volumes.
The bottom's up approach is calculated by examining: what are the number of queries issues by a hospital, how many of those queries are likely to have a financial impact, what was that impact measured in CMI MS-DRG relative weight points. Using this approach, a fictional hospital with 10,000 discharges, a 30/70 med/surg split and a $6,000 base rate would see an additional $2.4 million in appropriate reimburse.
Using the top down approach, looking across our entire cohort (which includes everything from hospitals that have been with Iodine for just the minimum two months to hospitals who have been an Iodine client for seven years) the average is $3.5 million in annual additional reimbursements based on improved MCC volumes.
Impact Amplified: Exploring Success Stories from the Iodine Cohort
Every year Iodine Software conducts a client wide cohort study measuring various key metrics in the clinical document...
Learn more
3 MIN READ
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. More than 500 hospitals and health systems using Iodine report significant improvements to quality scores and increase earned-revenue capture. 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 at more than 200 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 SoftwareIodine 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 more than 500 hospitals recognize $1.5 billion in additional appropriate reimbursement annually. To learn more, visit iodinesoftware.com.
About Artifact HealthArtifact 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.
Press Release
Iodine Software Acquires Physician Engagement Platform Artifact Health
Acquisition enables Iodine to add mobile-based physician query capabilities, addressing key health system mid-cycle r...
Learn more
3 MIN READ
From the article in Healthcare IT Today:
Most physicians would tell you that they already spend too much time on documentation and coding. Adding insult to injury, after the coding job is done we often have to explain their decisions to medical coders, a process which can take as long as 20 minutes, according to vendor Artifact Health. Click here to read full article.
In the News
Mobile App Streamlines Physician Query Process
From the article in Healthcare IT Today:
Most physicians would tell you that they already spend too much time on d...
Learn more
3 MIN READ
Health systems are using mHealth tools and platforms to improve the often-cumbersome physician query process, resulting in more accurate medical records and billing processes and less-stressed physicians.
From the article in mHealth Intelligence:
Documentation queries are the perfect application for mHealth, Brotman says. They're not so time-sensitive that they justify an interruption of the clinical workflow - yet it is best to answer them before a case can be coded and billed and while a patient is fresh in the doctor's mind. Click here to read full article.
In the News
mHealth Tools Help Hospitals Improve the Physician Query Process
Health systems are using mHealth tools and platforms to improve the often-cumbersome physician query process, resulti...
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3 MIN READ
WMHS ensures medical records are accurate and the health system receives proper reimbursement using a mobile physician query platform.
From the article in RevCycle Intelligence:
Decreasing duplicative efforts and automating the physician query process increased the response rate from 65 to 100 percent. The streamlined process also resulted in the average time to answer a clinical documentation and coding question dropping from about four days to just four hours. Click here to read full article.
In the News
Automated Physician Queries Improve Clinical Documentation at WMHS
WMHS ensures medical records are accurate and the health system receives proper reimbursement using a mobile physicia...
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