CodaMetrix is extremely proud to be a member of the innovation community here in Massachusetts — and that’s why it’s so special that our peers have chosen to honor us as a nominee for the NEVY Award for Emerging Healthcare Company of the Year.
The New England Venture Capital Association (NEVCA) holds the NEVYs every year to recognize standout members of the digital health, life sciences, biotech, climate tech, and robotics ecosystem based in Boston and beyond. The NEVY Award nomination is yet another proof point that CodaMetrix is making a real difference for healthcare providers currently struggling to find efficiencies in their administrative and operational workflows. In the U.S. today, up to a quarter of healthcare spending is wasted on administrative and revenue cycle tasks, with manual coding being one of the biggest culprits. Inconsistent coding can lead to avoidable denials, lost revenue, and delays in care. And growing staffing shortages are only exacerbating these challenges. We have a clear and immediate opportunity to reduce administrative burdens with autonomous coding powered by advanced artificial intelligence, and we are thrilled that the NEVY Awards committee shares our vision for a world where providers can code less and care more.
The nomination follows CodaMetrix’s recent top rating from KLAS Research, showcasing our momentum as we move into 2024. This same report also found that 100% of customers surveyed would purchase CodaMetrix’s autonomous coding solution again, and all of the respondents view CMX Automate™ as part of their long-term plans for optimizing clinical and revenue cycle workflows. The results showcase CodaMetrix’s strong trajectory of growth and maturity after recently securing $55 million in Series A funding, adding visionary leaders to our stellar executive team, and collaborating with Henry Ford Health to expand our multi-specialty autonomous medical coding platform to include bedside professional coding.It’s important to take time to come together to celebrate our successes as individual companies and as a shared community.
We want to thank the New England Venture Capital Association for this recognition, and we are grateful to our team of dedicated employees and outstanding clients for being the reason why we have achieved this recognition.Together, we will continue to empower our healthcare provider partners to focus more on caring for patients and less on coding to improve patient experiences, outcomes, and financial sustainability for all members of the care continuum.
