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September Edition 2021

Iodine Software – Powering Cognitive Emulation to Solve Healthcare Mid-Cycle Revenue Problems

Iodine Software – Powering Cognitive Emulation to Solve Healthcare Mid-Cycle Revenue Problems

The role of artificial intelligence in healthcare has been a huge talking point in recent months and there’s no sign of the adoption of this technology slowing down, well, ever really. AI in healthcare has huge and wide reaching potential with everything from mobile coaching solutions to drug discovery falling under the umbrella of what can be achieved with machine learning. That being said, many healthcare executives are still too shy when it comes to experimenting with AI due to privacy concerns, data integrity concerns or the unfortunate presence of various organizational silos making data sharing next to impossible.

Iodine Software is one such healthcare AI company that has pioneered a new machine learning approach — Cognitive Emulation™ — to help healthcare finance leaders build resilient and robust organizations. Founded in 2010, Iodine’s technology unifies clinical concepts, evidence-based medicine, and deep machine learning to power revenue cycle solutions that maximize capture and data accuracy. To date, the Iodine AwareCDI™ Suite has helped nearly 500 hospitals recognize $1.5 billion in additional appropriate reimbursement annually.

Cognitive Emulation: The future of AI and machine learning

AI is routinely positioned as a means to drive better results, yet most healthcare technology solutions leverage rules and check-lists versus clinically-trained cognitive expertise. Iodine has pioneered a new approach called Cognitive Emulation, which uses proprietary AI technology and machine learning algorithms to think the way a clinician thinks. Similar to how physicians base decisions on their knowledge of medical concepts, experience in the field, and clinical judgment, Iodine leverages its Cognitive Emulation approach (via its CognitiveMLTM Engine) to consider and analyze the entire patient record. It helps teams quickly and accurately identifies areas of potential opportunity to accelerate productivity, data accuracy, and financial return. Its large and growing database of patient admissions provides a rich resource to apply cognitive emulation and determine meaningful statistical patterns.

Key AI-Based Clinical Services Offered to Healthcare Sector

AwareCDI: Today, mid-revenue cycle management requires clinical judgment to ensure that the entirety of the patient encounter is accurately and compliantly reflected in the final code set submitted for reimbursement. Normally, this would mean that a CDI team needs to constantly review every record to ensure all conditions are coded accurately and compliantly; queries must be written for all potential documentation opportunities and delivered to physicians; and each case must be reviewed again prior to billing to ensure no earned revenue is left on the table. That’s just impossible without the right technology. The AwareCDI Suite thinks like you to solve numerous documentation integrity problems.

Iodine Labs: It was created to incubate new, disruptive technology ideas as well as produce meaningful, real-time insights. The company does this by applying its CognitiveML Engine to multiple use case scenarios, across a database of 20M+ patient admissions. It welcomes future collaboration to accelerate mutual learning and help hospitals and health systems cope with the rapid, ever-changing needs of their communities. Iodine’s Patient Triage and Escalation Support Tool (PTEST) have the ability to predict patient conditions and comorbidities. Built in just two weeks, this tool is designed to assist with identifying patients at risk for pulmonary challenges, need for ventilators, and critical care support. This helps patient care teams intervene early and potentially reduce the demand for scarce resources.

The Visionary Leader Upfront

William Chan is the co-founder and Chief Executive Officer of Iodine Software. His healthcare experience and expertise in designing technology platforms are guiding Iodine’s success in spearheading artificial intelligence and machine learning solutions for the healthcare industry.

Prior to Iodine, William was co-founder and vice president of Product at Crimson, a company focused on improving healthcare provider quality and profitability. Crimson was acquired by The Advisory Board Company, now part of Optum/United Healthcare (NYSE:UNH). William was also the co-founder and vice president of Marketing at WhisperWire, which was acquired by Convergys (now Concentrix), where he led product development efforts with the nation’s largest telecommunications providers. William also grew and managed the product marketing organization at Motive Communications (now part of Alcatel-Lucent), and was a product manager at Oracle Corporation and NetDynamics (now Sun Microsystems/Oracle).

Mr. Chan has a bachelor’s degree in Computer Science from Cornell University and an MBA with honors from Harvard Business School. He holds multiple patents related to healthcare technology.

“Software’s mission has been to change healthcare by applying our deep experience in healthcare along with the latest technologies like machine learning to improve patient care.”

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