Talix Granted Patent for Healthcare Technology That Enriches Patient Data Nov 19, 2020
Talix, a SaaS solution for both payers and healthcare providers to manage their patient information, announced a patent awarded by the U.S. Patent and Trademark Office entitled, “Health Information System for Searching, Analyzing and Annotating Patient Data,” patent number 10,755,804. Talix’s proprietary technology uses unique natural language processing (NLP) and a semantic health taxonomy for payers and providers so they can more easily analyze comprehensive patient data–without significant manual work.
The healthcare industry is rapidly moving from fee-for-service to value-based reimbursement, and patient data volume is increasing by 3X per year. Eighty percent of that information is unstructured text, such as physician notes. That means patient-specific clinical information needs to be more detailed than ever before to get accurate reimbursements. With this transformation, healthcare organizations need both structured and unstructured information derived from labs, provider notes, prescriptions, and social determinants of health to make more informed decisions about patient care.
Backed by Artificial Intelligence (AI), the Talix platform makes this transformation painless and intuitive. Customers can easily parse the high volume of patient information they receive from varying sources, which vastly improves the identification of patient medical acuity, treatments, and health management.
“Due to the shift to value-based care, the healthcare market needs advanced information technology to make the best use of massive amounts of patient data,” said Dean Stephens, CEO of Talix. “As patient information grows, it’s no longer scalable for humans to sift through the data alone. Our technology further reinforces our already innovative solution to deeply mine patient data and improve the payer and provider reimbursement process.”
To achieve this digital transformation, Talix includes millions of health concepts and semantic relationships that the team, using automated parsers, updates and improves continuously. In turn, this allows customers to accurately identify codes within patient data while highlighting potential errors and gaps in documentation. To enhance the taxonomy, Talix’s native NLP contains dozens of annotators to highlight indicators such as text structure, values, language intent, negation, and more.
Adding to its other award-winning features, these patented capabilities further establish Talix’s position as a leader in healthcare information technology. The NLP and semantic taxonomy, on top of powerful back-end technology, provide an all-in-one healthcare platform that speeds up reimbursement workflows. As a result, customers enjoy a higher ROI and better precision in their Risk Assessment processes. With this groundbreaking functionality, payers and providers alike improve the accuracy and detail of their patient and member documentation so they can provide high-quality, seamless patient care.
Talix is a comprehensive, AI-powered SaaS platform for healthcare payers and providers, making the transformation to value-based reimbursement more seamless and effective. The Talix Platform uses award-winning natural language processing (NLP) and machine learning (ML) techniques to power workflow applications, making processing patient data more accurate and efficient. Innovative healthcare organizations use Talix to improve productivity by up to 3X, turning their unstructured and structured patient data into actionable information. Ultimately, Talix accelerates the journey toward universal value-based reimbursement so patients can receive quality healthcare nationwide. For more information, please visit www.talix.com or follow Talix on Linkedin.