Nym Wins “Health Administration Innovation Award” in 8th Annual MedTech Breakthrough Awards Program

May 09, 2024 at 11:29 AM EDT

Award Underscores the Expanded Capabilities of Nym’s Industry-Leading, Multi-Specialty Autonomous Medical Coding Solution

Nym, the leader in autonomous medical coding, today announced that it has been selected as the winner of the “Health Administration Innovation Award” in the 8th annual MedTech Breakthrough Awards program conducted by MedTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies, and products in the global digital health and medical technology market.

As healthcare revenue cycle management continues to face staffing challenges, high costs, and inefficient processes, industry leaders are turning to autonomous medical coding to bring greater accuracy and efficiency to medical coding. While autonomous coding has gained significant traction and delivered meaningful value to the healthcare provider community, the capabilities of many solutions remained limited to one or two outpatient specialty areas. Nym has broken through this limitation, expanding the capabilities of Nym’s medical coding engine to support six different specialties and service lines across both outpatient and inpatient care settings, including emergency medicine, radiology, outpatient surgery, outpatient visits, inpatient professional fee services, and urgent care.

“Through our team’s expertise, dedication, and hard work, Nym has developed a truly multi-specialty autonomous coding solution that opens the door for many more provider organizations to experience the benefits of fully automated medical coding,” said Or Peles, Nym’s CEO. “We are incredibly grateful to MedTech Breakthrough for this recognition, and we look forward to building additional specialty areas that will optimize medical coding and reduce administrative burdens for even more healthcare organizations across the US.”

The mission of the MedTech Breakthrough Awards is to honor excellence and recognize the innovation, hard work, and success in a range of health and medical technology categories, including Telehealth, Clinical Administration, Patient Engagement, Electronic Health Records (EHR), Virtual Care, Medical Devices, Medical Data & Privacy, and many more. This year’s program attracted thousands of nominations from over 18 different countries throughout the world.

“Nym's best-in-class autonomous coding solution is solving the challenges associated with manual medical coding, helping healthcare providers improve quality, reduce coding-related costs, and accelerate payment cycles,” said Steve Johansson, managing director, MedTech Breakthrough. “By expanding the capabilities of their solution to support additional specialty areas, Nym has strengthened its position as a leader in autonomous medical coding, and we couldn’t be happier to award them the ‘Health Administration Innovation Award’.”

About Nym

Nym is the leader in transforming clinical language into actionable information, which can remove inefficiencies that add billions to the cost of care. By combining industry-leading technology with clinical expertise and a deep understanding of medical language, Nym is able to accurately decode medical charts in a way that is fast, explainable, and compliant. The Company’s innovative solution for revenue cycle management (RCM) takes provider notes within patient charts and translates them into accurate diagnostic and billing charge codes, all within a matter of seconds and with zero human intervention. Along with over 95% accuracy, Nym’s RCM solution delivers audit-ready, traceable documentation for every code it generates, ensuring total visibility into why each code was assigned. The Nym solution can be quickly deployed and scaled based on volume and workflow needs, easing administrative burdens and allowing clinical teams to spend more time focused on patient care.

Based in New York City with R&D capabilities in Tel Aviv, Nym is building an interdisciplinary team of specialists including technologists, physicians, mathematicians, computational linguists, engineers, medical coders and more. Investors in Nym include Addition, GV, Bessemer Venture Partners, Dynamic Loop Capital, Tiger Global, Zach Weinberg and Nat Turner. To learn more about Nym, visit nym.health.

About MedTech Breakthrough

Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the MedTech Breakthrough Awards program is devoted to honoring excellence and innovation in medical & health technology companies, products, services and people. The MedTech Breakthrough Awards provide a platform for public recognition around the achievements of breakthrough healthcare and medical companies and products in categories that include Patient Experience & Engagement, Health & Fitness, Medical Devices, Clinical Administration, Connected Healthcare, Medical Data, Healthcare Cybersecurity and more. For more information visit MedTechBreakthrough.com.

Tech Breakthrough LLC does not endorse any vendor, product or service depicted in our recognition programs, and does not advise technology users to select only those vendors with award designations. Tech Breakthrough LLC recognition consists of the opinions of the Tech Breakthrough LLC organization and should not be construed as statements of fact. Tech Breakthrough LLC disclaims all warranties, expressed or implied, with respect to this recognition program, including any warranties of merchantability or fitness for a particular purpose.