As the healthcare community struggles with “Information Skepticism” following the emergence of artificial intelligence, payer technology companies PLEXIS Healthcare Systems and Cavo Health respond with precise word-matching AI to surpass the lower accuracy of machine learning models.
[Medford, Oregon – October, 2023] PLEXIS Healthcare Systems, recently named a “Major Contender” within Everest Group’s “Healthcare Cloud-based Core Administration Platforms PEAK Matrix Assessment 2023” and “Sample Vendor” in the 2023 Hype Cycle for U.S. Healthcare Payers, announces a partnership with AI solution provider Cavo Health to provide a new, more precise method of autonomous clinical coding that boasts among the highest accuracy levels in the industry.
“Cavo Health has developed a Precise Word Matching AI — a completely innovative, exact approach to HCC completeness. The Cavo Health Precise Word Matching AI engine finds more than 96% of the HCCs in medical records before coders even begin coding. The current machine learning-based result is approximately only 80%.” Said George Witwer, CEO of Cavo Health. “The Cavo Health suite of products automates virtually the entire risk adjustment coding workflow along with delivering the superior auto-coding accuracy and HCC completeness of the world’s only Precise Word Matching AI engine.”
“PLEXIS leverages more than 27 years of innovative development to include cloud-based delivery models, open APIs, modular solutions, highly configurable benefit administration, and greater visibility with ready access to real-time data. Said Sean Garrett, Chief Operating Officer for PLEXIS Healthcare Systems. “We believe the addition of this enhanced artificial intelligence autonomous clinical coding capability, matched with PLEXIS technology, empower payers with highly competitive assets to significantly enhance efficiencies, increase the confidence in healthcare AI, and possibly streamline the introduction of new lines of business or products.”
About PLEXIS Healthcare Systems
PLEXIS Healthcare Systems is a leading healthcare payer technology company delivering trusted enterprise core administration and claims management solutions to healthcare payer administrative organizations (health insurers, health plans, third party administrators, etc.) worldwide. More than 110
organizations trust PLEXIS core administrative enterprise solutions to manage over 50 million lives in all 50 states and around the world. PLEXIS provides mission-critical solutions that catalyze efficiencies and connect evolving business ecosystems to a wide range of payer organizations.
About Cavo Health
The Cavo Health Precise Word Matching AI engine finds more than 96% of the HCCs in medical records before coders even begin coding — a unique technological achievement. Today the Cavo Health suite of products automates virtually the entire risk adjustment coding workflow along with delivering the unprecedented auto-coding accuracy and HCC completeness of the world’s only Precise Word Matching AI engine.