St. Paul, Minn.-based 3M has acquired the Bethesda, Md.-based CodeRyte Inc., a clinical natural language processing (NLP) technology and computer-assisted coding software provider. Terms of the transaction were not disclosed.
Through its advanced NLP technology, CodeRyte aims to help physicians and coders deliver complete coding information immediately. Its products include CodeAssist, CodeComplete and DataScout. The two companies have had a relationship since 2009, as CodeRyte brought its computer-assisted coding technology to more than 60 3M clients. 3M will embed this technology with its 360 Encompass System, which aims to help providers solve coding challenges of health care reform, new quality reporting requirements, and ICD-10
“This acquisition allows us to apply CodeRyte’s leading edge NLP technology to our new 3M 360 Encompass System,” Jon T. Lindekugel, vice president and general manager of 3M Health Information Systems, said in a statement. “We believe CodeRyte’s powerful NLP engine combined with 3M’s deep expertise in coding, reimbursement and patient classification will foster further innovation in the application of NLP.”
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