CodeRyte, a healthcare industry leader in clinical Natural Language Processing (NLP) and computer-assisted coding, was acquired by 3M for an undisclosed amount last week. CodeRyte helps physicians and coders deliver fast, accurate, and complete coding information immediately through its advanced NLP technology. Its products include CodeAssist, CodeComplete, DataScout, and Health System Coding.
CodeRyte’s sophisticated NLP technology streamlines the coding process and identifies clinically relevant information about medical records. The highly innovative, end-to-end health system solution offers a full picture of patient care over the lifecycle of treatment. CodeRyte is partnering with Involution Studios for the user experience design of its ground breaking Health System Coding software and recently extended its long-term collaboration, so that the software design consultancy can remain on board through the launch of the product and beyond.
3M Health Information Systems and CodeRyte have worked together since 2009 to bring 3M’s computer-assisted coding technology to more than 60 3M Health Information Systems clients. Building upon that experience in working and collaborating together, the 3M acquisition of CodeRyte brings many opportunities for innovation in the application of natural language processing to health care.
“CodeRyte’s mission, to improve individual and population health by making the language of healthcare meaningful, and our 250 fantastic clients will be best served by this combination,” said Andrew Kapit, Chief Executive Officer of CodeRyte. “Together, we can create change at the pace the nation needs.”
“Information technology is a critical component to transforming our healthcare system and providing patients, clinicians, and hospitals with better outcomes,” said Involution Studios Creative Director, Juhan Sonin. “CodeRyte’s software produces a comprehensive narrative of meaningful information in health records, which really defines the quality of care. We are thrilled to be designing this unique user experience with them, working with some of the best minds in the field of NLP.” Sonin is a recognized expert in design for health and wellness, providing consultation to the U.S. Department of Health and Human Services.
Among CodeRyte’s more than 160 clients are one-third of the nation’s academic medical centers, 20 IDNs and physician clinics, more than 60 single-specialty practices, and over 35 billing companies. This breadth and diversity across the nation’s top healthcare organizations speaks to the power and potential of the software.