M*Modal, a major vendor of clinical documentation software for physicians, on March 20 filed for voluntary Chapter 11 bankruptcy protection.
The action was not unexpected; the Wall Street Journal reported on March 7 that the company, struggling with high debt and falling sales, was preparing to file within the next two weeks. M*Modal sells medical dictation/transcription services, as well as speech recognition, natural language processing and data analytics software that enables clinicians to include the context of patient narratives in electronic health records, according to the vendor.
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