Iodine Software Teams With TruCode to Help Health Systems Capture More Earned Revenue

Rhea-AI Summary

Iodine Software has partnered with TruCode, a CPSI company, to enhance clinical documentation improvement (CDI) for healthcare organizations. The integration of TruCode Encoder Essentials into Iodine's AwareCDI suite aims to streamline workflows, reduce physician burnout, and improve revenue capture. This collaboration targets the significant revenue losses—estimated at $5-10M for a typical 250-bed hospital—caused by inaccurate documentation. Iodine's AwareCDI, recognized as the 2022 Best in KLAS CDI Software, uses advanced AI technology to maximize coding efficiency and support accurate claim reimbursement.

Positive

• Partnership with TruCode enhances clinical documentation improvement capabilities.
• Integration aims to reduce revenue losses attributed to inaccurate documentation.
• Iodine's AwareCDI is recognized as the 2022 Best in KLAS CDI Software.

Negative

• None.

Iodine Software’s 2022 Best in KLAS solution integrates with TruCode Encoder Essentials software to drive more efficient and accurate clinical documentation improvement

AUSTIN, Tex. & MOBILE, Ala.--(BUSINESS WIRE)-- Iodine Software, the leading enterprise AI software in healthcare, and TruCode, a CPSI company (NASDAQ: CPSI) that provides encoder technology solutions that maximize coding efficiency, today announced a partnership that enables health systems and hospitals to more effectively perform clinical documentation improvement (CDI).

Iodine Software will integrate TruCode Encoder Essentials directly into its AwareCDI suite. The combined solutions will provide CDI teams with easy access to detailed diagnosis and procedure code reference information directly in their workflows, in addition to access to complete official code books.

“Clinical documentation improvement is one of the most important areas of hospital operations and has a direct impact on both revenue performance and clinical quality. However, it often requires healthcare professionals to complete complex and tedious work that can negatively impact organizational performance. We want our clients’ CDI teams to have the best tools and resources available to them to streamline their work, minimize stress and create a positive working environment,” said William Chan, Iodine Software Co-founder and CEO. “Providing TruCode’s industry-leading technology within our AwareCDI Suite will allow CDI professionals to have the confidence that every claim has a complete and accurate reflection of the patient encounter, ultimately supporting earned-revenue opportunities and reducing denials.”

AwareCDI is based on Iodine Software’s proprietary CognitiveML technology, the most advanced and versatile AI engine available in healthcare. It’s the only available market solution that addresses mid-cycle revenue cycle leakage at each step, which is one reason why it was recently named the 2022 Best In KLAS CDI Software by KLAS Research with a score of 91.2.

By embedding TruCode’s robust coding resources directly into AwareCDI, CDI teams can easily access resources that support accurate capture of documentation and code assignment resulting in appropriate claim reimbursement and accurate reporting of patient outcomes.

“This partnership offers tremendous opportunity for hospitals and health systems because it brings together two industry-leading technologies, each with proven success. By combining TruCode’s expertise in encoder technology and coding workflows with Iodine’s powerful AI engine, we can deliver real value for healthcare organizations looking to improve the quality of care they deliver while improving revenue capture,” said Chris Fowler, CPSI CEO.

An estimated 84 percent of healthcare leaders believe that a root cause of lost or decreased revenue is inaccurate clinical documentation and coding, which can cost the average hospital $5-10M for the average 250-bed hospital in revenue leakage. By integrating AI and coding software directly into a CDI team’s workflow, provider organizations can capture earned revenue and minimize physician burnout caused by documentation and coding processes.

About Iodine Software

Iodine 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.

About TruCode

TruCode offers innovative medical coding software solutions to the hospital, consulting, and healthcare IT markets. Since 2005, TruCode’s team of passionate and experienced health information professionals has been dedicated to developing the most intuitive encoder available.

The release of the Encoder Essentials in 2011—a set of web services and components that allow TruCode’s encoder technology to be embedded within other software platforms—took TruCode to new heights. Industry-leading Computer Assisted Coding (CAC), Clinical Documentation Improvement (CDI), and auditing solutions providers have partnered with TruCode to incorporate their encoder functionality into their own software.

In 2021, CPSI saw the value of bringing leading coding technology to their TruBridge business and acquired TruCode. As part of TruBridge, TruCode’s solutions have helped to enhance TruBridge’s patient management and revenue cycle solutions, helping them more effectively clear the way for care.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220907005931/en/

Tracey Schroeder

Chief Marketing Officer

tracey.schroeder@cpsi.com

(251) 639-8100

Source: CPSI

FAQ

What is the partnership between Iodine Software and TruCode about?

The partnership aims to enhance clinical documentation improvement by integrating TruCode Encoder Essentials into Iodine's AwareCDI suite.

How will the partnership impact hospitals and health systems?

The partnership is expected to streamline workflows, reduce physician burnout, and improve revenue capture for hospitals and health systems.

What are the estimated revenue losses for hospitals due to inaccurate documentation?

Inaccurate documentation can cost the average 250-bed hospital between $5-10 million in revenue.

Why is accurate clinical documentation important?

Accurate documentation is crucial for proper claim reimbursement and maintaining clinical quality.

What recognition has Iodine Software received recently?

Iodine Software's AwareCDI was named the 2022 Best in KLAS CDI Software with a score of 91.2.