Nym Health founders Amihai Neiderman (left) and Adam Rimon Photo Nym Health
Israel’s Nym Health is a provider of autonomous medical coding technology. The company raised $47 million in growth investment led by PSG.
Medical coding is a critical factor in healthcare costs, as providers rely on accurate coding for insurance reimbursement. Despite the high volume of charts requiring manual coding, the process is prone to errors and delays. This inefficiency creates a pressing need for more efficient solutions.
Based in New York City with R&D capabilities in Tel Aviv, Nym is building an interdisciplinary team of specialists including technologists, physicians, mathematicians, computational linguists, engineers, medical coders and more. Investors in Nym include PSG, Addition, GV, Bessemer Venture Partners, Dynamic Loop Capital, Tiger Global, Zach Weinberg and Nat Turner. To learn more about Nym, visit nym.health.
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Nym’s AI-powered medical coding solution offers a significant improvement over traditional manual methods. By automating the process, Nym eliminates inefficiencies, reduces costs, and ensures accuracy. This transformative approach enables healthcare providers to streamline reimbursement processing and allocate resources more effectively. Nym’s advanced engine leverages AI and clinical language understanding to quickly and accurately assign medical codes.
Nym deals with medical coding, accelerating the billing process by automatically assigning the most accurate medical codes required for medical reimbursement. Medical coding is traditionally a manual process, performed today by more than 250,000 medical coders. Coders manually review each patient chart and assign the applicable medical codes required for billing.
Across its customer base of health systems, hospitals, and physician groups in the U.S., Nym has processed over six million charts annually as of September 2024, and, within certain use cases, Nym has demonstrated results.
“We are passionate about helping the US healthcare system operate more efficiently. Across our team of physicians, computational linguists, researchers, engineers, and medical coders, we’re energized by the opportunity to deliver AI that creates value for care providers and patients,” said Or Peles, CEO of Nym. “We’re excited about our momentum as we continue to expand our multi-specialty solution to support new care areas, and we look forward to leveraging PSG’s experience scaling healthtech and AI-driven businesses.”
