AAPC, a leading global solutions provider in healthcare revenue cycle management, is pleased to announce the successful acquisition of Semantic Health, an early-stage healthcare technology company focused on creating AI-powered inpatient medical auditing software for health insurance plans and hospitals.
“We are thrilled to integrate Semantic Health’s advanced technology and skilled AI team to AAPC,” said Bevan Erickson, AAPC’s CEO. “This acquisition is a leap forward in our mission to elevate the quality and efficiency of healthcare. We’re not just streamlining processes; we’re empowering professionals at the center of healthcare payment and delivery. By providing our members with the innovative tools now being developed by Semantic Health and AAPC in unison, we’re augmenting their capabilities and increasing the value they deliver their employers. This move keeps our 250,000 members on the forefront of healthcare’s digital transformation, ensuring they remain vital and effective in their current roles and future-proof their careers in this evolving industry.”
Based in Toronto, Semantic Health has made significant strides in streamlining manual auditing processes, reducing denials, and improving documentation quality for auditing teams.
“The world of health technology is advancing at a rapid pace with the rise of generative AI,” said Nicola Sahar, MD, Semantic Health’s President. “We’re excited to join forces with AAPC to accelerate our joint ability to deploy cutting-edge AI technology for auditing inpatient services. This will help us improve data quality, optimize revenue cycle management (RCM) efficiency and unlock generative AI in healthcare.”
Semantic Health empowers auditing teams by identifying high-impact revenue and quality opportunities across medical coding and clinical documentation improvement. The platform audits coded inpatient charts prospectively to validate, identify, and further specify diagnosis and procedure codes with respect to the clinical documentation. With the acquisition, the collective teams have ambitious plans to expand the platform’s functionality and elevate AAPC’s current product offerings.
“I firmly believe this acquisition will help AAPC deliver immense value to our members and their employers, as this platform will empower them to continuously identify and prioritize cases with the highest revenue impact,” said Raemarie Jimenez, Chief Product Officer at AAPC. “We are committed to developing cutting-edge technology solutions that improve the efficiency of our members and helps make their complex jobs a bit easier.”
AAPC will work toward a seamless transition to continue supporting existing Semantic Health customers while growing the platform. Together, through this partnership, Semantic Health will be better positioned to serve their customers.
SOURCE: PRNewswire