A-Life Medical Announces Acquisition of University of Pittsburgh Medical Center's Stake in Partner A-Life Hospital to
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SAN DIEGO, CA, May 19 (MARKET WIRE) --
A-Life Medical, Inc. today announced the acquisition of the University of
Pittsburgh Medical Center's interest in A-Life Hospital Coding, LLC. Tom
Bang, President and CEO, A-Life Medical, will head the A-Life Hospital
entity. Jaye Connolly has been promoted to Chief Operating Officer,
A-Life Medical, in combination with her existing role as Chief Financial
Officer and will manage A-Life Medical's day to day operations. A-Life
Medical is the leading Natural Language Processing (NLP) provider for
Computer Assisted Coding and Billing product solutions in the healthcare
industry.
With this strategic acquisition, A-Life Medical extends the reach of
their patented NLP engine, LifeCode(R), into the inpatient hospital
coding domain. The University of Pittsburgh Medical Center (UPMC) will
continue as the national showcase and customer reference site for A-Life
Hospital's Computer Assisted Coding product. The acquisition, made
possible through shareholder support and assistance from the San
Diego-based banking team at Bank of America, further expands A-Life
Medical's market leadership, with the addition of outpatient facility
coding.
"Our unique partnership with UPMC combined the expertise required for
developing a hospital-based Computer Assisted Coding product, with the
industry's most advanced NLP engine, and the extensive clinical and health
information management experience needed to identify and address users'
needs," said A-Life Medical's CEO, Tom Bang. "The product, which
incorporates the latest generation of our patented NLP LifeCode(R) engine,
has exceeded our expectations in enhancing coder productivity and
accuracy, while improving compliance and audit outcomes, resulting in a
very compelling ROI. Working together with our partners, A-Life employees
have demonstrated their commitment to delivering highly robust and
efficient solutions that meet the demands of hospitals in these
unprecedented economic times."
A-Life's hospital coding product streamlines and simplifies the work done
by human coders. Using A-Life's sophisticated NLP technology, which reads
and understands English and medical terminology; the system analyzes
text-based medical records throughout a dozen data sources. The system
provides coders with recommended ICD-9-CM codes, principal diagnosis,
possible complications and co-morbidities. It improves audit outcomes by
producing automatic audit trails and links to documented evidence for each
code selected. Integrated with the hospital's existing electronic medical
record system of choice, A-Life's hospital coding product helps coders
navigate the regulatory complexity created by the introduction of Medicare
Severity Diagnosis-Related Groups (MS-DRGs) in 2007.
About A-Life Medical, Inc.
A-Life Medical Inc., a privately held technology company based in San
Diego, CA, is the leading provider of Natural Language Processing (NLP)
based solutions for the healthcare industry. A-Life Medical's products
extract meaning from unstructured free text and automate tedious,
complicated and labor intensive tasks. A-Life Medical's mission is to
provide world-class solutions to streamline and computerize the code to
collection process while fundamentally advancing the way the healthcare
industry gathers, applies and reports on patient information. A-Life
Medical is the leading NLP provider for computer assisted coding and
billing product solutions for the healthcare industry. For more
information about A-Life Medical and its products, call 888.224.6300 or
visit www.alifemedical.com.
Contact:
Michael R. Gans
A-Life Medical, Inc.
Tel: 858-795-1712
Email: mgans@alifemedical.com
Copyright 2009, Market Wire, All rights reserved.
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