M*Modal Technology to enable smoother, methodical ICD-10 transition
Franklin, TN – July 10, 2012 – M*Modal (NASDAQ/GS: MODL), a leading provider of clinical documentation, coding services/technology and Speech Understanding solutions, today announced that Parkland Hospital has selected the company to provide advanced cloud-based coding technology solutions through M*Modal Fluency for Coding™, part of a new cohesive line of clinical solutions. Terms of the agreement were not disclosed.
Parkland and M*Modal have a long-standing relationship based on years of medical transcription services. According to Robin Stults, Vice President, Healthcare Information Management, Parkland Health & Hospital System, “We value our relationship with M*Modal and its consistent, quality transcription services. With the onset of ICD-10 and its sheer volume of codes, we turned to M*Modal Fluency for Coding for our high-quality computer-assisted coding solution.”
M*Modal Fluency for Coding™ uniquely combines computer-assisted coding and powerful workflow management tools to manage current workflow demand while creating preparedness for the transition to ICD-10. M*Modal’s Fluency for Coding technology reviews the entire medical record and makes code suggestions for the coder based on the context within each provider’s documentation. This same documentation assessment can also be used to suggest areas in which data may be missing in relation to the code that is provided. Leveraging this contextual understanding of the physician’s narrative, complemented by M*Modal’s intelligent workflow, helps to eliminate coding errors, speed processing time and save dollars on the back end.
“We are proud to have been selected by Parkland Hospital to extend our relationship into the coding arena, through M*Modal Fluency for Coding™,” said Vern Davenport, Chairman and CEO, M*Modal. “Our combination of M*Modal’s unique technology solutions and the insights and knowledge we bring is not only helping ease the strain as ICD-10 approaches, but is also boosting productivity and accuracy with ICD-9 today. M*Modal Fluency for Coding offers a smarter path to quality documentation that is resulting in fewer denials and expedited code-to-bill processing.”
For more information on M*Modal, M*Modal Fluency for Coding™ and the M*Modal Fluency family of solutions, including M*Modal Fluency Direct™, M*Modal Fluency for Transcription™, M*Modal Fluency for Imaging™ and M*Modal Fluency for Practices™, please visit www.mmodal.com or follow on Twitter @MModal.
About Parkland Hospital
Parkland Hospital is a 775-staffed-bed main campus facility. There are 10 Centers of Excellence with the most skilled health professionals and state-of-the-art tools and equipment encompassing: trauma, burns, spinal cord injuries, cancer, endocrinology, women & infants, epilepsy, gastroenterology, cardiology and orthopedics. In addition Parkland serves as the primary teaching hospital for the University of Texas Southwestern Medical Center. More than 60 percent of the doctors in the Dallas area have undergone formal training at Parkland. Currently a totally new replacement hospital is being constructed across the street from the present facility. The master plan for the new $1.271 billion health care campus includes an 862-bed adult inpatient hospital, outpatient center, parking and central utility plant and logistics building, with total square footage of 2.5 million square feet.
M*Modal (NASDAQ/GS: MODL) is a leading provider of clinical transcription services, clinical documentation workflow solutions, advanced cloud-based Speech Understanding™ technology, and advanced unstructured data analytics. Recognized as the largest clinical transcription service in the U.S. with a global network of medical editors, M*Modal also offers voice to text solutions to capture the complete patient story, codifies the doctor’s narrative to automatically populate EHRs and other key healthcare information systems, delivers computer-assisted coding to support ICD-9 and the transition to ICD-10, and provides highly advanced analytical tools for exploring the richness within the “unstructured” narrative for improvements in quality of care, greater physician satisfaction and lower operational costs. For more information, please visit www.mmodal.com, Twitter, Facebook and YouTube.
Information provided and statements contained in this press release that are not purely historical, such as statements regarding our expectations regarding our future business plans are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements only speak as of the date of this press release and the Company assumes no obligation to update the information included in this press release. Statements made in this press release that are forward-looking in nature may involve risks and uncertainties. Accordingly, readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, without limitation, specific factors discussed herein and in other releases and public filings made by the Company (including filings by the Company with the Securities and Exchange Commission). Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made in this press release.