Semantic Health Announces Multi-Year Contract with SickKids
SickKids procures Semantic Health's AI-assisted coding and auditing platform to improve data quality and coder productivity
TORONTO, Nov. 16, 2021 /CNW/ - Semantic Health Inc. ("Semantic Health"), a Toronto-based health technology company, is pleased to announce that it has concluded an agreement with The Hospital for Sick Children (SickKids) to deploy its all-in-one medical coding and data quality audit platform, the Semantic Health Information Platform. The procurement was completed after demonstrable value was established through a project facilitated by the Coordinated Accessible National (CAN) Health Network.
SickKids procures Semantic Health's AI-assisted coding and auditing platform to improve data quality and productivity
Semantic Health aims to help health information professionals improve the efficiency of manual, error-prone medical coding & data quality audit processes that rely on unstructured data. Their flagship offering, the Semantic Health Information Platform, is an all-in-one platform for medical coders and auditors to accelerate the review of clinical documentation, optimize reimbursements, and capture data quality opportunities.
Typically, healthcare institutions employ large teams of specialized professionals to pore through clinical documentation and complete medical coding, auditing and CDI processes. The Semantic Health Information Platform aims to reduce inefficiencies and improve team productivity while producing data-driven insights.
In three months, Semantic Health worked with SickKids and the CAN Health Network to assess the application of the platform. Working within a pilot environment, the platform was able to increase coding efficiency by up to 30% while enhancing overall data quality by up to 25%.
"The Semantic Health Information Platform will be a one-stop-shop for medical coders, auditors, and CDI specialists to become critical pieces of the healthcare data quality challenge," stated Dr. Nicola Sahar, Chief Executive Officer at Semantic Health. "As a physician, I am delighted that SickKids will now be using the platform."
The project that preceded procurement was funded in part by the Coordinated Accessible National (CAN) Health Network. The Network works with healthcare operators to identify their biggest challenges and source Canadian solutions. The ultimate goal being to support Canadian businesses and help them grow and scale. Semantic Health continues to work with the CAN Health Network and other healthcare organizations in the network to deliver improved healthcare data quality across Canada.
"Semantic Health offers the only solution of its kind in the Canadian market. Our mission is to enable new Canadian technologies, like the Semantic Health Information Platform, to be rapidly validated, compliantly procured and ultimately, scaled across the country," says Dante Morra, Chair, CAN Health Network. "This procurement demonstrates that Canadian healthcare IT solutions have the ability to compete and lead in the healthcare ecosystem."
ABOUT SEMANTIC HEALTH
Semantic Health is a healthcare technology company leveraging proprietary artificial intelligence to help hospitals improve their medical coding, auditing, and CDI processes. Their Semantic Health Information Platform enables real-time access to coded data to drive clinical decision support and optimized reporting, reimbursement and operations. To learn more about Semantic Health, visit www.semantichealth.ai/
ABOUT CAN HEALTH
The CAN Health Network is a Canada-first approach to technology adoption. It helps break down barriers to scaling in the healthcare system and provides an environment for companies to scale to their full potential. Currently operating in Ontario, Western and Atlantic Canada, the CAN Health Network plans to expand to Quebec and the North. The Network has received $6.75 million from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), $3.5 million from Western Economic Diversification Canada (WD), and most recently, $2.2 million from the Atlantic Canada Opportunities Agency to build a national platform that harnesses the purchasing power of healthcare organizations. To learn more about the CAN Health Network, visit www.canhealthnetwork.ca.
Laith Sarhan, Director, Business & Legal Operations
CAN Health Network:
Alexis Fung Fook, Manager, Communications & Marketing
SOURCE Semantic Health