INDIANAPOLIS, Ind. (February 27, 2019) — TechPoint, a nonprofit, industry-led growth initiative for Indiana’s technology ecosystem, announced Equian as a nominee for its Tech Innovation of the Year Mira Award which recognizes solutions that revolutionize, advance, or create new tech approaches to optimize results.
Equian submitted its application on one of the key technologies the company developed, tested, and put into production in 2018 focused on clinical review and resolution (CRR) for high cost inpatient hospital bills. The CRR solution combines Artificial Intelligence, Natural Language Processing, and Machine Learning with Clinical Code Mapping, and Continuously Updated Legislative Reimbursement Regulations to ensure accurate payment on complex bills.
Click here for a video of Equian’s CRR solution nominated for Innovative Tech of the Year.
“The initial results since the rollout of the product include a high level of accuracy of normalization of the itemized charges as well as faster turn-around times for reviews,” stated Katy Brant, Group President of Clinical Solutions. “Keys to success of our product include deep clinical subject matter knowledge embedded in the technology, claim normalization through machine learning, and claim reviews routed to the appropriate specialized clinicians for final validation. Currently 80% of the claims identified by our software have some level of inaccuracy identified and denied for payment. We expect to see at least a 30% productivity increase in our clinical teams with higher accuracy of claim review.”
“Equian is on the leading edge of technology seeking not only pricing transparency, but billing practice transparency as well,” stated Mike Morrison, CRO of Equian. “These efforts align with the federal government and ultimately benefit all consumers of healthcare in the US.”
Mike Langellier, CEO of TechPoint, stated, “This is a special year, as we celebrate the 20th anniversary of the Mira Awards, and we look forward to recognizing the people, companies, and places that are Indiana’s current and future success stories.”
Nominees were selected by 48 independent subject matter experts who evaluated and ranked the applications. Nominees will present their cases to judging panels, after which the judges will select the winners and make the final announcements on April 16th. A complete list of the nominees competing for the state’s top technology honors in the 2019 Mira Awards is available at techpoint.org/mira.