Nym offers an autonomous medical coding engine that leverages AI and clinical language understanding to decipher patient charts and assign diagnostic and billing codes in seconds. Its revenue-cycle-management solution produces audit-ready, traceable documentation intended to improve accuracy, efficiency, and compliance. Nym supports six specialties across inpatient and outpatient care, including emergency medicine, radiology, outpatient surgery, outpatient visits, inpatient professional coding, and urgent care. As of September 2024 the company processed over six million charts annually and has demonstrated results such as over 95% coding accuracy, up to 35% reduction in coding costs, up to 5% improved revenue capture, 50% reduced claims denials, and up to a five-day decrease in accounts receivable. Nym plans to accelerate expansion of its multi-specialty solution to support new care areas. The company is based in New York City with R&D capabilities in Tel Aviv and recently secured new growth funding to support scaling. Nym Health builds explainable AI technology that automates medical coding and billing workflows. It leverages direct-to-billing, autonomous medical coding to enable fully automated, efficient and transparent revenue cycle management, reduce insurance denials and operational expenses, accelerate payment cycles, and maximize audit readiness. The company’s platform is deployed in 40 hospitals nationwide, including Geisinger and several academic medical centers. In July 2021 it raised $25M in a funding round, bringing total funding to date to $47.5M. The company intends to use the proceeds to scale product development and accelerate adoption of its automated medical coding platform in emergency departments. Nym Health is led by CEO Amihai Neiderman and is based in New York City and Tel Aviv, Israel. Nym Health develops auditable ML and NLP-driven software that converts physician notes and electronic medical records into appropriate billing codes using clinical taxonomies. The product generates full audit trails to explain how it interpreted patient charts, which helps hospitals justify billed services to insurers. The company says its system does not change medical decision-making and cannot detect intentional fraud, but can correct improper coding that leads to lost revenue. Nym charges between $1 and $4 per chart analyzed and is already working with around 40 U.S. medical providers. The new capital will be used to expand technology development as well as sales and marketing across the U.S. The company was founded by two former members of Israel’s 8200 unit and draws on expertise in computational linguistics and clinical NLP. Nym provides an autonomous medical coding platform that leverages AI and natural language to assign medical codes automatically and in real time. Its solution assigns codes with zero human interaction and generates a transparent audit trail that explains how each code was chosen, addressing the AI black box problem. The technology is being adopted by revenue cycle management companies and healthcare providers across the United States. Founded in 2018 by Amihai Neiderman and Adam Rimon, the company operates out of Tel Aviv and has offices in Boston, MA. Nym secured $6 million in seed financing led by Bessemer Venture Partners. The company's solutions enable healthcare facilities to optimize their revenue cycle processes.

Total raised

$95M

Funding rounds

4

Latest round

Equity

Latest activity

Oct 2024