SyTrue Seizes Health Payer Market Share with Suite of NLP-Based Solutions
SyTrue, the leader in modernizing payer workflows to reduce costs and increase efficiencies, has capped off a year of tremendous growth in the company’s client base, number of employees and transaction volume.
Among the company’s major achievements and milestones in 2021 that reinforce SyTrue’s dominance in the healthcare market:
- Excellent bottom-line results for clients. SyTrue payer clients benefited from 35% to 55% increases in productivity and ROIs between $13 and $28 per audit using SyTrue’s payment integrity tools and services.
- Increased transaction volume to nearly 1 billion medical documents annually. As the only clinical natural language processing (NLP) provider in the U.S. capable of processing as many as 52,000 pages in a single transaction, SyTrue expanded its processing volume for the year and demonstrated the unlimited scale of its solution.
- Added several key clients. SyTrue’s top tier solutions drew the attention of notable organizations in the health payer and service provider space who have signed on as enterprise clients.
- Added and expanded partnerships. New and expanded partnerships in 2021 included Microsoft, Snowflake and UiPath. These partnerships considerably extended SyTrue’s reach into the international health record processing and analytics ecosystems.
- Tripled staff size. SyTrue dramatically expanded its staff to accommodate its growing business. The company bolstered its leadership ranks with the hiring of former Kaiser Permanente executive Janice Pennington as chief operations officer. Pennington, a trained nurse with a master’s degree in medical informatics brings a unique vantage into SyTrue’s expanding operations in payment integrity. SyTrue also added a head of partnerships, a team of data scientists specializing in clinical NLP, and an in-house physician group to provide clinical strategy and support. These specialist team members further strengthen SyTrue’s deep domain expertise in healthcare and clinical NLP.
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SyTrue expects its market momentum to continue in 2022. In the coming weeks, SyTrue will announce the addition of several new clients and partnerships and unveil new innovations to its market-leading NLP OS platform mid-year.
“We had a fantastic 2021 as our business grew, our workforce expanded to meet customer demand and the technology enhancements we introduced enabled payers and healthcare providers to be more efficient and reduce costs,” said Founder and CEO Kyle Silvestro. “Our solutions for payment integrity, Medicare Risk Adjustment (MRA), population health and radiology set us apart from the competition – and we expect an even better 2022.”
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