3M Health Information Systems has acquired veteran coding firm CodeRyte for an undisclosed sum.
Bethesda, Md.-based CodeRyte sells computer-assisted coding software and natural language processing software that reads physician documentation and assigns appropriate codes for review by a coder. The company, with about 250 clients, also offers outsourced coding services.
3M has partnered with CodeRyte since 2009 and has brought the technology to more than 60 clients. Now, 3M will embed the natural language processing technology in its 360 Encompass System, a coding and document improvement application.
CodeRyte’s software enables identification and extraction for analysis of clinical information from free-text and structured medical records. The software supports the analysis of demographic and referral patterns, revenue optimization, payer mix, RAC preparation, clinical appropriateness, regulations, quality initiatives and clinical trials, according to the vendor.
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