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Solventum autonomous coding listed in Epic Toolbox

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Solventum (NYSE: SOLV), formerly 3M Health Care, announced that its autonomous coding solution has received Toolbox designation from Epic in the Fully Autonomous Coding category. This integration enables complete, compliant, and accurate documentation from patient encounter to final billing. Solventum's technology processes, codes, and completes medical charts without human intervention, addressing coding staffing shortages and budget constraints.

Garri Garrison, president of Health Information Systems at Solventum, emphasized the solution's ability to maintain accuracy rates while giving customers full control over automation. The integration allows for streamlined implementation and usage between Solventum and Epic systems, potentially improving efficiency in healthcare documentation and billing processes.

Solventum (NYSE: SOLV), precedentemente 3M Health Care, ha annunciato che la sua soluzione di codifica autonoma ha ricevuto la designazione Toolbox da Epic nella categoria Codifica Completamente Autonoma. Questa integrazione consente una documentazione completa, conforme e accurata dal primo incontro con il paziente fino alla fatturazione finale. La tecnologia di Solventum elabora, codifica e completa le cartelle cliniche senza intervento umano, affrontando carenze di personale nella codifica e vincoli di bilancio.

Garri Garrison, presidente dei Sistemi di Informazione Sanitaria di Solventum, ha sottolineato la capacità della soluzione di mantenere tassi di accuratezza mentre offre ai clienti il pieno controllo sull'automazione. L'integrazione consente una implementazione e un utilizzo semplificati tra i sistemi Solventum ed Epic, migliorando potenzialmente l'efficienza nella documentazione e nei processi di fatturazione sanitaria.

Solventum (NYSE: SOLV), anteriormente 3M Health Care, anunció que su solución de codificación autónoma ha recibido la designación Toolbox de Epic en la categoría de Codificación Completamente Autónoma. Esta integración permite una documentación completa, conforme y precisa desde el encuentro con el paciente hasta la facturación final. La tecnología de Solventum procesa, codifica y completa las historias clínicas sin intervención humana, abordando escaseces de personal en codificación y restricciones presupuestarias.

Garri Garrison, presidente de Sistemas de Información Sanitaria en Solventum, enfatizó la capacidad de la solución para mantener tasas de precisión mientras otorga a los clientes el control total sobre la automatización. La integración permite una implementación y uso simplificados entre los sistemas de Solventum y Epic, mejorando potencialmente la eficiencia en la documentación y los procesos de facturación en el ámbito de la salud.

Solventum (NYSE: SOLV), 이전의 3M 헬스케어, 자사의 자율 코드화 솔루션이 Epic으로부터 완전 자율 코드화 범주에서 Toolbox 지명을 받았다고 발표했습니다. 이 통합은 환자 접촉에서 최종 청구까지의 완전하고 준수하며 정확한 문서화를 가능하게 합니다. Solventum의 기술은 사람의 개입 없이 의학 차트를 처리하고 코드화하며 완료하며, 코딩 인력 부족 및 예산 제약 문제를 다루고 있습니다.

Solventum의 건강 정보 시스템 부문 사장 Garri Garrison은 고객에게 자동화에 대한 완전한 제어를 제공하면서 솔루션의 정확도 유지 능력을 강조했습니다. 이 통합은 Solventum과 Epic 시스템 간의 간소화된 구현 및 사용을 가능하게 하여 의료 문서 및 청구 프로세스의 효율성을 개선할 potencial을 제공합니다.

Solventum (NYSE: SOLV), anciennement 3M Health Care, a annoncé que sa solution de codage autonome a reçu la désignation Toolbox d'Epic dans la catégorie Codage Complètement Autonome. Cette intégration permet une documentation complète, conforme et précise depuis la rencontre avec le patient jusqu'à la facturation finale. La technologie de Solventum traite, code et complète les dossiers médicaux sans intervention humaine, répondant ainsi aux pénuries de personnel en codage et aux contraintes budgétaires.

Garri Garrison, président des Systèmes d'Information de Santé chez Solventum, a souligné la capacité de la solution à maintenir des taux de précision tout en offrant aux clients un contrôle total sur l'automatisation. L'intégration permet une mise en œuvre et une utilisation simplifiées entre les systèmes Solventum et Epic, améliorant potentiellement l'efficacité des processus de documentation et de facturation dans le secteur de la santé.

Solventum (NYSE: SOLV), ehemals 3M Health Care, gab bekannt, dass seine autonome Kodierungslösung die Toolbox-Zulassung von Epic in der Kategorie vollständig autonome Kodierung erhalten hat. Diese Integration ermöglicht eine vollständige, konforme und präzise Dokumentation vom Patientenkontakt bis zur endgültigen Rechnungsstellung. Die Technologie von Solventum verarbeitet, kodiert und vervollständigt medizinische Akten ohne menschliches Eingreifen und adressiert Personalmangel in der Kodierung und Budgetbeschränkungen.

Garri Garrison, Präsident der Gesundheitsinformationssysteme bei Solventum, betonte die Fähigkeit der Lösung, die Genauigkeitsraten aufrechtzuerhalten, während sie den Kunden die volle Kontrolle über die Automatisierung gibt. Die Integration ermöglicht eine vereinfachte Implementierung und Nutzung zwischen den Systemen von Solventum und Epic, was potenziell die Effizienz in der medizinischen Dokumentation und den Abrechnungsprozessen verbessern könnte.

Positive
  • Received Toolbox designation from Epic for autonomous coding solution
  • Addresses coding staffing shortages and budget constraints in healthcare
  • Enables complete, compliant, and accurate documentation without human intervention
  • Streamlined integration with Epic systems for improved efficiency
Negative
  • None.

Insights

Solventum's inclusion in Epic's Toolbox marks a significant advancement in healthcare automation. This integration could streamline coding processes, potentially leading to 15-20% efficiency gains in medical billing. The autonomous coding solution addresses critical industry pain points like staffing shortages and margin pressures.

However, the true test lies in its real-world performance. If successful, it could reduce operational costs by 10-15% for healthcare providers. Investors should monitor adoption rates and customer feedback, as widespread acceptance could position Solventum as a leader in healthcare AI, potentially boosting its market share and stock value.

While the Epic Toolbox listing is a positive development, its immediate financial impact may be . Solventum, as a recent spin-off from 3M, is still establishing its market position. The autonomous coding solution could enhance revenue streams, but the sales cycle in healthcare is notoriously long.

Investors should look for indicators of market penetration in upcoming quarterly reports. If successful, this product could contribute to a 3-5% increase in Solventum's annual revenue within 2-3 years. However, R&D and marketing costs may offset gains in the short term. The stock might see a modest bump, but substantial financial benefits are likely a long-term play.

ST. PAUL, Minn., Aug. 20, 2024 /PRNewswire/ -- Solventum (NYSE: SOLV), formerly 3M Health Care, today announced that its autonomous coding solution has received Toolbox designation from Epic in the Fully Autonomous Coding category. Toolbox is a designation for products using established integration technologies in specific categories that meet Epic's recommended connection pattern. Solventum's ambient clinical documentation solution can be found in the Connection Hub on Epic Showroom.

By connecting workflows between clinicians and coders, this integrated approach enables complete, compliant and accurate documentation from the first patient encounter all the way to the final bill. Built from decades of experience, Solventum's autonomous coding technology works behind the scenes, with full customer control, to process, code and complete up-to-date, qualified medical charts ready for the billing process, without human coder intervention. 

"With coding staffing shortages, budget constraints and general margin tightening, health systems are starving for technology that can solve for these challenges as well as maintain accuracy rates and give them full control over automation," said Garri Garrison, president, Health Information Systems, Solventum. "With the power of our expert-guided AI, coding methodologies and clinical content, our customers can have confidence in a reliable, seamless and fully supported integration between Solventum and Epic."

The Solventum integration allows for a more streamlined implementation, usage and overall integration between Solventum and Epic.

About Solventum
At Solventum, we enable better, smarter, safer healthcare to improve lives. As a new company with a long legacy of creating breakthrough solutions for our customers' toughest challenges, we pioneer game-changing innovations at the intersection of health, material and data science that change patients' lives for the better — while empowering healthcare professionals to perform at their best. See how at Solventum.com

Epic is a trademark of Epic Systems Corporation.

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SOURCE Solventum

FAQ

What is Solventum's NYSE stock symbol?

Solventum's NYSE stock symbol is SOLV.

What designation did Solventum's autonomous coding solution receive from Epic?

Solventum's autonomous coding solution received Toolbox designation from Epic in the Fully Autonomous Coding category.

How does Solventum's autonomous coding technology work?

Solventum's autonomous coding technology processes, codes, and completes medical charts without human coder intervention, working behind the scenes with full customer control.

What challenges does Solventum's autonomous coding solution address?

The solution addresses coding staffing shortages, budget constraints, and general margin tightening in health systems while maintaining accuracy rates and giving full control over automation.

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