Iodine Software 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.
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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 judgment 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.1
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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 judgment. 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.2
“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.”
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