Nym Health raises $16.5 million for its auditable machine learning tools for automating hospital billing
A little less than two years after raising its seed round, the Israeli-based Nym Health has added another $16.5 million to its cash haul so it can roll out its technology developing auditable machine learning tools for automating hospital billing.
The new financing came from investors including GV (the investment arm of Google previously known as Google Ventures) and will be used by the company to expand its technology development and sales and marketing efforts across the U.S.
Billing has been a huge problem for healthcare systems in the U.S., thanks to complicated coding that needs to be entered to ensure insurance providers pay for the services medical professionals give to patients.
Nym claims to have solved the problem by developing technologies that can convert medical charts and electronic medical records from physician’s consultations into proper billing codes automatically. The company uses natural language processing and taxonomies that were specifically
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