The Franklin, Tenn.-based MedQuist Holdings, a provider of integrated clinical documentation solutions, has announced the unification of the company's advanced speech and language understanding technologies, medical transcription, coding, HIM professional services, and analytics, under the name M*Modal. Shares of the Company's common stock will begin trading on the NASDAQ Global Select Market under the symbol "MODL" on Jan. 25, 2012.
In August of last year, MedQuist merged with M*Modal, who provided advanced Speech and Natural Language Understanding technology. The company has plans to expand the core transcription business, open new markets, significantly increase the sales force and development resources, as well as leverage its intellectual property portfolio.
The consolidation means M*Modal clients will have access to MedQuist’s end-to-end clinical documentation solutions that aim to help caregivers capture the patient's complete clinical story and extract meaningful information used to populate electronic health records (EHRs) and automate the data used to feed business processes such as coding, billing and revenue cycle management.
M*Modal brings to the table a cloud-based "Speech Understanding" technology that aims to allow physicians the ability to capture the patient's story anywhere, anytime using any electronic device, as well as Natural Language Understanding technology which converts the narrative into structured clinical documents that can be shared and integrated with existing workflows or EHRs.