Credo's proprietary solution leverages 85,000 clinical network connections and AI to deliver more accurate documentation, improved patient outcomes and optimized financial performance
DENVER, March 27, 2023 /PRNewswire-PRWeb/ -- Credo, an innovative venture-backed AI startup in healthcare technology, is delighted to announce the introduction of PreDx, a first of its kind pre-encounter medical record and diagnostic solution, meticulously crafted for value-based care providers in Medicare Advantage. The proprietary PreDx process radically redefines the manner in which providers obtain and scrutinize patients' medical records. PreDx changes the pre-visit planning process by generating a complete longitudinal medical record summary before a patient's visit. This eliminates chart chasing by clinical staff and ensures an auditable diagnosis history in accordance with the latest CMS guidance regarding risk adjustment focused on ensuring appropriate care for Medicare Advantage beneficiaries.
Despite spending over $100 billion per year in the U.S. managing medical records, value-based care providers today may have limited-to-no information on a patient's medical history prior to their first scheduled visit. More importantly, providers spend up to an hour per patient chasing records and collectively fax over 9 billion pages of medical records, significantly wasting valuable clinical staff time.
PreDx solves these problems through digital access to 85,000 health systems and clinics combined with manual curation to fill any gaps. Once Credo obtains a patient's medical records, it uses in-house clinicians, along with proprietary AI and machine learning algorithms developed through its own custom training data, to analyze and deliver a comprehensive medical history report that thoughtfully consolidates all documented conditions of the patient with references and dates of service.
Carm Huntress, CEO of Credo, emphasized the transformative impact of the PreDx system: "The healthcare industry has long been plagued by the inefficiencies of accessing and interpreting patient records. With PreDx, we have flipped the process of medical record retrieval and post encounter documentation review on its head. Instead of starting with a blank medical history, we equip healthcare providers with a holistic portrait of a patient's medical history and diagnoses before their first visit, not after."
The early results are extremely compelling. On average across three different provider groups, in three different states, Credo showed a 94% success rate of getting records back on patients, and improved coding accuracy by correcting 2-3 diagnoses per patient in an average turn around time of 3 days.
Huntress further explained the financial advantages of the PreDx system: "Our solution not only improves patient outcomes, but directly affects providers' ability to accurately diagnose complex patients and speed up time to effective treatment. It also leads to considerable savings in operational costs for providers. By eliminating the need for time-consuming phone calls and faxes for medical records, we free up valuable time and clinical resources that can be better spent on patient care."
Huntress continued, "With increased scrutiny from CMS, which we fully support and believe is important for the sustainability of the Medicare Advantage program, payors and providers must ensure accurate diagnosis coupled with supporting documentation." PreDx was designed to help providers and their payer partners remain compliant, accurate, and auditable in their documentation efforts.
Credo is launching PreDx at the 2023 ViVE Conference this week in Nashville, Tennessee. As part of the launch, Credo is offering free trials to any value-based care provider that would like to try the service. Please visit the company's website at http://www.credohealth.com for more information.
About Credo:
Credo, the leader in automated patient medical record retrieval, is working to radically simplify and update the current medical record and retrieval process to support patients receiving better overall care. Credo's innovative digital solution offers healthcare providers and payers an alternative to traditional fax-based processes that can result in incomplete patient health records with costly mistakes. To learn more about Credo, please visit http://www.credohealth.com.
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SOURCE Credo
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