Nym Overview
Nym Health is developing an automated coding system based on natural language understanding (NLU). Nyms NLU engine understands the logical relationships between different linguistic components in text, creating a model that captures the true narrative of each patient report. The system automatically assigns the relevant codes (e.g. ICD-10-CM, CPT, etc.) at each step, either validating that the narrative is fully understood or redirecting the record back to a human coder for review. The Nym engine is also able to flag charts that it does not understand rather than risk the introduction of errors. For charts that have been coded, Nyms audit-trail view provides a clear explanation of the reasoning behind the decision to assign a specific code. This allows for a quick understanding of the audit trail for validation, compliance, and appeals basis. The company is working to enable fully automated, efficient, and transparent revenue-cycle management for healthcare providers. It has started with coding, with the goal of eventually leveraging clinical language understanding and enabling new ways of processing clinical data.
Cumulative Funding Raised Over Time ($)
$25.0MJul 2021
$31.0MJun 2019
$47.5MOct 2020
$94.5MOct 2024
Latest News
growth-positive
The Israeli startup has developed an engine that integrates with hospitals' and clinics' data systems in the U.S., analyzing patient medical records to facilitate communication with insurance companies.
Nym, an Israeli startup specializing in autonomous medical coding, has secured $47 million in a funding round led by PSG, with participation from existing investors like Google Ventures, Addition, and DLC. This brings Nym’s total funding to $92 million since its inception in 2018. The company plans to use the new funds to expand its workforce and enhance its presence in the U.S. market. Nyms platform integrates with hospital data systems to streamline medical coding, reducing administrative burdens and improving coding accuracy. The platform currently supports six medical specialties and has processed over 6 million medical records in the past year. The investment will help Nym continue its growth and maintain its position as a leader in AI-driven medical coding solutions.
InvestmentExpand
growth-positive
Israeli medical coding solutions co Nym raises $47m
Nym, an Israeli AI medical coding company, has raised $47 million in a financing round led by PSG, with participation from Samsung Next and existing investors Google Ventures, Addition, and Dynamic Loop Capital. This brings the total investment in Nym to $92 million. The company aims to simplify the US healthcare system by automating the medical coding process, which is traditionally manual and prone to errors. Nyms technology accelerates workflow and improves accuracy, reducing costs and inefficiencies in healthcare administration. The investment will help Nym expand its solutions to new care areas, leveraging PSGs expertise in scaling healthtech businesses.
Investment
growth-positive
Nym has automated the entire US healthcare medical coding process to deliver a faster, more cost-effective solution that outperforms traditional manual coding.
Nym, an Israeli AI medical coding company, has completed a $47 million financing round led by PSG, with participation from Samsung Next and existing investors Google Ventures, Addition, and Dynamic Loop Capital. This brings the total funding raised by Nym to $92 million. The company aims to simplify the US healthcare system by automating the medical coding process, which is traditionally manual and prone to errors. Nyms technology accelerates workflow and improves accuracy, reducing costs and enabling quicker reimbursements for healthcare providers. The company plans to expand its multi-specialty solution to support new care areas, leveraging PSGs experience in scaling healthtech businesses.
Investment
growth-positive
Ochsner Health taps medical coding partner
Ochsner Health has partnered with Nym Health to automate revenue cycle management in its emergency departments. The adoption of Nym Healths medical coding technology is expected to optimize the speed and efficiency of Ochsner Healths medical coding and billing processes. Nyms coding engine uses provider notes within patient charts to generate accurate diagnostic and billing charge codes without human intervention.
Customers
growth-positive
Nym Health takes on hospital billing with automated AI tools
Nym Health, an autonomous medical coding company, has developed an automated coding system based on natural language understanding. The system aims to change revenue cycle management and reduce denials and operational expenses for hospitals and clinicians. The company has achieved an accuracy rate of 98% and is currently deployed in nearly 100 hospitals and clinician groups. Nym Health has raised a total of $47.5 million and employs 65 people. The company plans to expand its services to primary care in the future.
Customers
| Sector | Health Tech & Life Sciences |
Funding
| Total funding | $94.5M |
| Last funding | $47M |
| Stage | B |
| Rounds | 4 |
| Investors | 13 |
Team Members
2
Employees: 201-500
Web & Social Links
| Website | nym.health |
| Careers | Careers page |
Locations
Saadia Gaon Street 24, Tel Aviv-Yafo, Israel
45 Bond St, New York, NY, USA
Photos & Videos
2 item(s)
Nym Business
Business models
B2B
Product stage
Released
Employees
201-500
Sector
Health Tech & Life SciencesDigital HealthcareClinical WorkflowTarget Customer
Healthcare & Life SciencesHealthcareLaboratoriesInsurance CompaniesProvidersCore Technology
Artificial IntelligenceNatural Language ProcessingTags (15)
medical-dataartificial-intelligenceemrclinical-datanatural-language-processinginsurance-companiesdigital-healthcarehealthcare-providersactionable-insightshospitalsmachine-learningautomationclinical-workflowsoftware-developmentclinical-trialsGeographic Markets
United StatesNym Financials
$94.5M
Total funding
Undisclosed
Capital raised
$47M
Last funding
B
Funding stage
4
Total rounds
13
Investors
Cumulative Funding Raised Over Time ($)
$25.0MJul 2021
$31.0MJun 2019
$47.5MOct 2020
$94.5MOct 2024
Private Equity Funding
Undisclosed Round
Oct 2024
$47M
Addition, Samsung Next TLV, Dynamic Loop Capital, PSG, Google Ventures
B Round
Jul 2021
$25M
Addition (Lead)
,
GV, Lightspeed Venture Partners, Nat Turner, Zach Weinberg, Tiger Global Management, Bessemer Venture Partners, Dynamic Loop Capital
A Round
Oct 2020
$16.5M
GV (Lead)
,
Bessemer Venture Partners, Samsung Next TLV, Dynamic Loop Capital, Lightspeed Venture Partners
Seed
Jun 2019
$6M
Bessemer Venture Partners (Lead)
,
Dynamic Loop Capital, Elliptic Ventures, Kli Capital
Nym Lifecycle
Cumulative Funding Raised Over Time
$25.0MJul 2021
$31.0MJun 2019
$47.5MOct 2020
$94.5MOct 2024
All Events
Undisclosed Round
Oct 2024
$47M
Addition, Samsung Next TLV, Dynamic Loop Capital, PSG, Google Ventures
B Round
Jul 2021
$25M
Addition (Lead)
,
GV, Lightspeed Venture Partners, Nat Turner, Zach Weinberg, Tiger Global Management, Bessemer Venture Partners, Dynamic Loop Capital
A Round
Oct 2020
$16.5M
GV (Lead)
,
Bessemer Venture Partners, Samsung Next TLV, Dynamic Loop Capital, Lightspeed Venture Partners
Seed
Jun 2019
$6M
Bessemer Venture Partners (Lead)
,
Dynamic Loop Capital, Elliptic Ventures, Kli Capital
Nym News
12 articles
growth-positive
The Israeli startup has developed an engine that integrates with hospitals' and clinics' data systems in the U.S., analyzing patient medical records to facilitate communication with insurance companies.
Nym, an Israeli startup specializing in autonomous medical coding, has secured $47 million in a funding round led by PSG, with participation from existing investors like Google Ventures, Addition, and DLC. This brings Nym’s total funding to $92 million since its inception in 2018. The company plans to use the new funds to expand its workforce and enhance its presence in the U.S. market. Nyms platform integrates with hospital data systems to streamline medical coding, reducing administrative burdens and improving coding accuracy. The platform currently supports six medical specialties and has processed over 6 million medical records in the past year. The investment will help Nym continue its growth and maintain its position as a leader in AI-driven medical coding solutions.
InvestmentExpand
growth-positive
Israeli medical coding solutions co Nym raises $47m
Nym, an Israeli AI medical coding company, has raised $47 million in a financing round led by PSG, with participation from Samsung Next and existing investors Google Ventures, Addition, and Dynamic Loop Capital. This brings the total investment in Nym to $92 million. The company aims to simplify the US healthcare system by automating the medical coding process, which is traditionally manual and prone to errors. Nyms technology accelerates workflow and improves accuracy, reducing costs and inefficiencies in healthcare administration. The investment will help Nym expand its solutions to new care areas, leveraging PSGs expertise in scaling healthtech businesses.
Investment
growth-positive
Nym has automated the entire US healthcare medical coding process to deliver a faster, more cost-effective solution that outperforms traditional manual coding.
Nym, an Israeli AI medical coding company, has completed a $47 million financing round led by PSG, with participation from Samsung Next and existing investors Google Ventures, Addition, and Dynamic Loop Capital. This brings the total funding raised by Nym to $92 million. The company aims to simplify the US healthcare system by automating the medical coding process, which is traditionally manual and prone to errors. Nyms technology accelerates workflow and improves accuracy, reducing costs and enabling quicker reimbursements for healthcare providers. The company plans to expand its multi-specialty solution to support new care areas, leveraging PSGs experience in scaling healthtech businesses.
Investment
growth-positive
Ochsner Health taps medical coding partner
Ochsner Health has partnered with Nym Health to automate revenue cycle management in its emergency departments. The adoption of Nym Healths medical coding technology is expected to optimize the speed and efficiency of Ochsner Healths medical coding and billing processes. Nyms coding engine uses provider notes within patient charts to generate accurate diagnostic and billing charge codes without human intervention.
Customers
growth-positive
Nym Health takes on hospital billing with automated AI tools
Nym Health, an autonomous medical coding company, has developed an automated coding system based on natural language understanding. The system aims to change revenue cycle management and reduce denials and operational expenses for hospitals and clinicians. The company has achieved an accuracy rate of 98% and is currently deployed in nearly 100 hospitals and clinician groups. Nym Health has raised a total of $47.5 million and employs 65 people. The company plans to expand its services to primary care in the future.
Customers
growth-positive
"לרוב המשקיעים לא סיפרתי מה אנחנו עושים בתור חברה, מספיק שאני מספר מה הבעיה"
Israeli company Nym has developed a system for analyzing and understanding medical texts from patient files to automate the process of collecting money from insurance companies. The process is currently done manually by about a quarter of a million coders worldwide. Nym was founded in 2018 by Amichai Neiderman and Adam Rimon, and has raised $50 million to date. The companys technology has proven effective in reducing human errors, with an accuracy rate of 98%, compared to 70% accuracy of human coders. Nym is currently focusing on emergency rooms due to the increase in visits in the US and the complexity of coding medical reports.
Investment
growth-positive
Medtech startup Nym Health raises $25 million
Israeli startup Nym Health has raised $25 million in a funding round led by Addition. The company has developed an AI-based platform for automating and analyzing medical coding, transforming a manual process into an automated one. Nyms platform connects to existing systems in clinics and hospitals, analyzing medical information and generating billing codes automatically. The funding round included participation from existing investors GV, Dynamic Loop Capital, Tiger Global, Lightspeed, and Bessemer Venture Partners. Nym is currently working with medical networks in the U.S. and is deployed in about 40 hospitals and physician groups. The company has seen an increase in demand due to the reliance on human encoders and the impact of the COVID-19 pandemic.
CustomersInvestment
growth-positive
Nym ranked among Top 10 Most Promising Startups of 2020
Nym Health, an autonomous medical coding technology provider, has been ranked among the Top 10 Most Promising Startups of 2020 by Globes financial newspaper. The company offers direct-to-billing, fully autonomous medical coding that improves revenue cycle management for healthcare providers. In 2020, Nym raised $16.5 million in Series A funding led by GV, with participation from other investors. Nyms technology combines physician-curated clinical knowledge with Clinical Language Understanding (CLU) engine to achieve accurate medical coding. The company aims to enable automated and transparent revenue cycle management for healthcare providers.
Investment
growth-positive
Geisinger Partners with Nym Health to Launch Autonomous Coding Technology
Geisinger is deploying Nym Healths autonomous medical coding technology to all nine of its hospital emergency departments. Nyms CLU technology uses Clinical Intelligence and computational linguistics to understand provider narratives and assign reimbursement codes. The technology offers coding accuracy, revenue cycle efficiency, and analytics insights. Geisinger will have real-time transparency into coding assignment. Nyms autonomous system can code charts in an average speed of 5 seconds per chart, reducing time from discharge to coding. The technology allows Geisinger to scale their coding operations and improve performance. Nym Health is working to enable fully automated revenue cycle management, achieving accuracy rates of 98% and above. Geisinger is a healthcare provider committed to making better health easier for its consumers.
PartnersCustomers
growth-positive
Nym Health raises $16.5 million for its auditable machine learning tools for automating hospital billing
Nym Health, an Israeli-based company, has raised $16.5 million in funding from investors, including GV, to develop auditable machine learning tools for automating hospital billing. The company uses natural language processing and taxonomies to convert medical charts and electronic medical records into proper billing codes automatically. Nyms software provides audit trails and justifications for services coded by hospitals, potentially increasing revenue. The funding will be used to expand technology development and sales and marketing efforts in the U.S. Nym charges between $1 and $4 per chart analyzed and already works with around 40 medical providers.
InvestmentExpand
growth-positive
QueueLogix, a HealthChannels company, Announces Partnership with Nym Health to Deploy Autonomous Medical Coding Solutions
QueueLogix, a HealthChannels company, announces a new partnership with Nym Health to reduce coding and billing times, improve revenue cycles, enable patient engagement, and increase compliance. The partnership pairs care team assistants (CTAs) with a combination of QueueLogix and Nym software to streamline the coding and billing process. Nym AI automatically identifies inconsistencies in clinical notes and assigns accurate codes in real-time. The partnership also includes a real-time audit dashboard to review codes for compliance. The QueueLogix-Nym solution aims to increase RCM efficiencies and outcomes. The technology will be available to current care team assistant and scribe clients and health systems.
Partners
growth-positive
Israeli medical coding co Nym raises $6m
Israeli autonomous medical coding technology provider Nym has completed a $6 million seed financing round led by Bessemer Venture Partners. The companys automatic, accurate, and real-time medical coding solution is being adopted by revenue cycle management companies and healthcare providers in the United States. Nyms technology streamlines the billing process, reduces operational costs, and improves the patient experience.
Investment
Nym Team
Employee Info
| Employees (range) | 201-500 |
| Exact count | 274 |
| Team members | 3 |
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Nym Internal
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Admin Info
| Confidence | 100/100 |
| Missing | markets |
| BI Verification | Yanina Wainscheinker |
| Registrar ID | 515795466 |
| Crunchbase | nymhealth-tel-aviv-israel |
| Last updater | Matan Eblagon |
| Updater email | matane@sncentral.org |
| Last update | 2022-12-09T00:00:00.000Z |
| Created | 2018-01-02T00:00:00.000Z |
| Claimed | Yes |