Access Innovations is the pioneer and industry leader in making content and information assets easily and automatically discoverable through taxonomy construction and indexing.
This is a transcript of their recent webinar for Swarmsales.
Karelis: [00:00:05] Hi everyone.
Karelis: [00:00:06] Hello and thank you for joining us today. This webinar with Access Innovations. I'm Karelis, part of the customer success here at Swarmsales. And today joining us in this call is Jeff from Access Innovations and he's going to give you a brief overview of the solution and give us important information to help us out and get started.
[00:00:25] Everyone is muted right now but please raise your hand or use the shadowbox if you want to ask any questions and I can un-mute you at any time and if by the end you want to have direct contact with Jeff, just let us know and we'll put you in contact.
[00:00:36] So with all of that said, I'm gonna turn it over to Jeff and he'll start. Very excited to have you with us today, Jeff.
Jeffrey Gordon: [00:00:42] Well thank you so much, guys. Hi, I'm JEFFREY GORDON I'm the CTO of Access Integrity and we are a company that provides artificial intelligence in the automatic coding of medical bills. And one of the biggest issues in health care is that they all have something in common and that's a need for effective health information management and how our software which we title access integrity works as it helps to reduce claim denials and audit damage while improving cash flow and increasing staff productivity. One of the things that really caught us off guard was up to and beyond 30 percent of medical claims are rejected on their first submission which of course hurts you know a hospital or provider from multiple points of views.
[00:01:36] Not to mention cash flow but on the initial submission. You're looking at about a 30-day payout for example as compared to a failed submission.
[00:01:47] Now you're looking get a 90 day 120-day return on your claims. The more claims that are rejected the more likely that an organization is also going to be targeted for an audit. And these audits can be exorbitantly expensive. There is a hospital group out here in New Mexico where I'm from and Las Vegas, New Mexico called Alta Vista Regional and they're a very small group and believe only a couple of hundred providers and they were hit with a 60 million dollar fine for medical billing and coding issues.
[00:02:31] Access Integrity also helps to reduce claims and denials error abuse and increases cash flow and staff productivity and that can happen from multiple points of use.
[00:02:41] We can help the coder automatically code the notes we can help the doctor know whether or not they have enough information present in their actual documentation to properly code a note. So for example if the doctor is trying to diagnose with complex pneumonia are the correct diagnosis codes there to be able to or procedure codes well to be able to diagnose them using our patented software were able to code integrity rules for ICD 10.
[00:03:12] ICD 9 as well, CPT and HIC/PITS. And for those who aren't familiar, these are just the codes that Medicare Medicaid and other insurers use to validate whether or not a claim is going to be refunded. We accomplished this through the machine-aided indexing and supplemented with our natural language processing. And so comparing these key data points we're able to provide every single piece of patient information key medical facts and taxonomic relationships there. We can help with procedure nodes and do the kinds that form well. This produces a highly accurate medical claim results in a significant reduction in claims denial. So we use powering this is our patented software which is Data Harmony which provides a contextual automatic understanding of any keywords that are present inside of the body of text. So whether you're a scientific library talking about mechanical engineering or you're doctors notes talking about once again complex pneumonia were able to recognize the presence of those vocabulary terms and kick them back and we do this through our fully constructed taxonomy tools which include fields, broader terms, non-preferred terms, and so forth. Access Integrity is owned by Access Innovations which has been in business for 40 years. We provide content management and automatic indexing and we have experience with both large and small organizations.
[00:04:56] Everything IEEE to MHG and dozens of others. Our use case is fairly simple.
[00:05:05] So we're looking at code compliance and assist assisting with coding so we ensure that all necessary elements that a code to code a note are present whether that's in the patient family history and the doctor's note or other provided information and we can prevent either over or undercoating which can both result in tremendous fines our code cycle optimization for either the whole, we provide us local cycle optimization for the hospital or agency.
[00:05:35] Again this can go back to helping the actual doctor provider ensure that they are providing enough information in the know before they actually send it not for reimbursement or the actual coding process itself by providing suggested codes to the coder helping with reimbursement ensuring that compliance is there so we can go ahead and get reimbursed and correction if a note needs to be corrected, those issues are much much easier to detect. As a company over the last 40 years, we've done fairly well. Our deal sizes and life cycles are at this point are fairly regular for corporate clients our deal sizes vary between 2 and 5 million dollars and included indexing impacts on any management. We have an incredibly high level of retention multi-year renewals. I believe our longest was nine years. Our life cycle varies between three to six months before the close of the sale and the corporate client for scientific libraries. These are much smaller deals. They vary between a quarter of a million to one million dollars and this includes indexing an on management. We have an incredibly high retention with multi-year renewals and we have over 80 percent of the clients that we have ever. We still retain over 80 percent of the clients that we've ever done business with. The lifecycle here is considerably longer. We're looking at between roughly 6 months and 2 years we've had various great wins. We have the weather channel, the IEEE, Presbyterian Hospital, Triple AS, Electrical Power Research Institute, the Scientific Library Association, and dozens of others that you're more than welcome to look at at the link provided there. And I will also be provided of course this PowerPoint to all of you so you can use that to look at our case studies. Now who would be, who do we envision using this?
[00:07:40] Any organization that deals with medical billing coding whereas the HMO provider or billing company we feel that they really do need Access Integrity. Does that organization deal at all with medical billing coding. Has the organization ever faced issues with Medicare Medicaid and so forth. Any of these very consistent I think fairly concise use cases would fit inside of who we envision working with access integrity.
[00:08:17] That's it and sorry I tend to keep presentations fairly short to the point. I prefer to engage who I'm working within the form of questions. I think that's always been a little more meaningful than me just going on and on and on about a particular product. But thank you so much, guys. So did y'all have any questions.
Karelis: [00:08:41] That was perfect. Jeff, Maybe you can try updating that presentation to the campaign as well. And we have three sales reps right now I'm not sure. Does any of you have any questions?
[00:08:51] Joe if you do please raise your hand then I will un-mute you.
[00:08:58] And in the meantime what I'm gonna do is I'm going to show you the campaign or you can you can also use the chat box if you feel more comfortable doing that.
[00:09:06] So if you have any questions please use it to chat and Jeff can answer.
[00:09:12] I'm going to show the campaign just so just so you know what its offering.
[00:09:22] So right now this is the campaign Access Innovation as they have four milestones each offering two hundred and fifty dollars every day.
Jeffrey Gordon: [00:09:33] Odds are we are going to be increasing those over his nearest rival. We're going to be increasing. Yeah.
[00:09:38] Okay perfect. so they're probably going to be increasing it. What we're doing right now is we are putting most of the payment on the introduction so probably this introduction will be 500. And they are also considering giving out retainers if that's something you're interested in. So yeah.
[00:09:58] So Joe has a question I'm gonna. And unmute him.
Jeffrey Gordon: [00:10:04] Hi Joe how are you. Yeah yeah.
Joe: [00:10:07] You hear me okay.
[00:10:10] Oh yeah. Anyway just fine. I'm on the computer my computer room. Speaker which.
[00:10:16] Pretty good computers help me. It said it's a good sound. From What I hear at least it sounds good to people I'm talking to and I do some work on web Xs and all with it.
Jeffrey Gordon: [00:10:28] It sounds actually sounds really very clear I'm surprised that that's actually a laptop microphone. That's very impressive actually what laptop is that.
Joe: [00:10:37] That's an HP Pavilion.
Jeffrey Gordon: [00:10:39] Huh. Yeah.
Joe: [00:10:42] I'm very happy with it. You know so it's very clear.
Jeffrey Gordon: [00:10:46] My microphone alone is a 200 mic. I hope it sounds ok. Yeah, they might look like the company looks like you did some good by starting on the content.
Joe: [00:10:58] And I guess one guy image management is that the way that things kind it transpired where you are.
Jeffrey Gordon: [00:11:04] Yes absolutely. So where we were we were we were founded we were very much about the phrase we turn to search and you found.
[00:11:17] So we were very much in and still are in the business of making content index simple and buying people and making it as relevant as possible. Right.
Joe: [00:11:29] Yeah because I mean I've worked with some document management too so I was excited when I saw the invite out here and I said wow that sounds like a really great way to take that application in re-engineering it or help you decide. Whatever word you want to use and make it out to the marketplace so why.
[00:11:48] Yeah yeah. I'm glad you see how we're what we're trying to take content management now shifted towards automatically or automatically assisting and doing these medical notes right.
[00:12:01] It's really not that separate a notion at least in my mind. Right. If you have the context that indicates a torn rotator cuff.
[00:12:14] Why don't you go ahead and patent right why don't you go ahead and make that surface that information and make it more accessible.
Joe: [00:12:23] Yeah I agree. I mean my background and I have worked with when I ran large data centers in charge a lot of a big data content as well as lots and you know insurance companies banks or whatever see a lot of forms you know all that stuff you work with all the different user groups whether rich claims or whoever. But everything was done. You know if you went through there through the software the big the big iron side of it you know. So it's interesting how things are transpiring you still have that out there you know. But you know this is, an end to be able to you know to go after you know that if you want to call it that the Fortune 2000 are worth 1000 marketplace is a nice fit. Who would be the main. I'm sure you've got obviously the competitors who would you consider your toughest or you would feel that you run up against the most competition stand for competitive standpoint.
Jeffrey Gordon: [00:13:18] There are a couple the companies so it's just purely in like the content management space that we do.
[00:13:24] Okay. I'm sorry. Oh, go ahead. Go ahead.
Joe: [00:13:27] No, I mean, overall if you look at you know you are I guess you look at it and is it something as again not being familiar to software. But I did have a little bit of research on your web page is it modular base? Can you start with that?
[00:13:41] You know a module and then expand upon it or is it not.
Jeffrey Gordon: [00:13:47] It is completely modular and ultimately it's modular down to the taxonomy or controlled vocabulary itself.
[00:13:56] Okay. So if I have a 15-word vocabulary for example and I have taught the engine how to recognize those 50 words or concepts right. Then from that point of view, I have modularity even Alderley down to the word level.
Joe: [00:14:18] And looks like you're the right marketplace and you can go after the scientific to schools in the academic area.
Jeffrey Gordon: [00:14:27] Oh yeah. We've been there for 40 years. We've worked there for a long time.
Joe: [00:14:31] So it sounds like you've got some good user base studies and some and some built-in methodology if you will.
Jeffrey Gordon: [00:14:44] Our president and founder Margie law effectively wrote the book high techmanagements.
Joe: [00:14:50] Wow. OK.
Jeffrey Gordon: [00:14:52] And in fact if you were to Google her name it I can type that chart for you. You will find the text book which is still used today in class and in practice to help teach people how to do content discovery.
[00:15:24] It's out in the chat box you, do you see the chatbox?
Joe: [00:15:28] Yeah. I have a question I just put it in a chat. Let's see here.
Jeffrey Gordon: [00:15:36] Oh I'm sharing the panelist only I'm so sorry. That's my bad. I would love that. Let me spell the name for you. It isn't Mary, A as an Alexandra.
[00:15:49] R as in Richard, J as in Jeffrey of that decision.
Karelis: [00:16:04] I have a question from Daniel Akis asking Is this service limited to only the U.S. but can the service be provided in Spanish
Jeffrey Gordon: [00:16:18] I don't know if I can bring up his client or not but we do have we do have multiple non United States Clients.
Karelis: [00:16:25] Okay.
Jeffrey Gordon: [00:16:26] Including Egypt, Mexico, South America, Asia and pretty much globally at this point.
Karelis: [00:16:36] So that's a yes.
Jeffrey Gordon: [00:16:40] I wanted to say the same.
Joe: [00:16:46] You guys based where you guys based out of.
Jeffrey Gordon: [00:16:49] Beautiful Albuquerque New Mexico.
Joe: [00:16:51] Oh yeah yeah yeah okay. Nice yeah. Been there yeah. Higher altitude as they say.
Jeffrey Gordon: [00:16:56] But nothing makes you a better jogger.
[00:17:01] Actually. So this is my favorite thing to do. So from the sound of my voice how tall and how big which you assume I am.
Joe: [00:17:10] That's funny. 5'9 let's say 165
Jeffrey Gordon: [00:17:24] I am 6 foot 3 300 pounds and I can live over 400 pounds over my head. So you never ever guessed that would you.
Joe: [00:17:35] Not at all. Wow, ok.
Jeffrey Gordon: [00:17:37] I know, 300 pounds of mostly muscle there's some power lifter chub in there though, I have it.
Joe: [00:17:43] What's your position in a company?
Jeffrey Gordon: [00:17:46] I am. I was the lead software engineer for our web application and now I am the chief technology officer.
Joe: [00:17:56] Ok, CTO so if we needed assistance from a sales end, how would that derive? We obviously get we started and get a client engaged. Sounds like you've got some good documentation on your Web site. We could use some you know some resources there that somebody would provide sanitation or how does that work?
Jeffrey Gordon: [00:18:21] We have we have hundreds and thousands of pages of documentation. Anything that you need you just let me know and I will get it provided to you.
Joe: [00:18:30] Okay. And then once we get a customer to engage is it up to the salesperson person to do the presentation or is it or is it or is it a joint effort between your your your company and us.
Jeffrey Gordon: [00:18:41] I think I would envision that being a joint effort. Right. I would not I would not want to offer to anybody to the wolves on how life. Right.
[00:18:50] That's not that's not good business. From my point of view not and it's not that I don't trust you know the people who were sending out their sales for us.
[00:19:00] It's just not right fair on you to get put into a situation where well how does this do this.
[00:19:06] And then all you can say is I don't know that that's not fair.
Joe: [00:19:12] It sounds good. I see the sales cycles. So you're saying three to six months in and get it from a territory standpoint is it open the United States are we limiting any vertical markets or what's the actual what can.
Jeffrey Gordon: [00:19:25] We have covered every vertical that has ever existed.
[00:19:29] We've done everything from mining schools, even optioning. I mean we have done it we've been in every vertical. I don't believe that there is a vertical that we have not been.
Joe: [00:19:45] It sounds like a lot of good case studies obviously good user studies to be able to reference from a customer that's that's that's encouraging. That's good.
Jeffrey Gordon: [00:19:53] Yeah we we we make we make a big deal out of having healthy relationships with our clients and our clients are often ones who championed for us and we end up getting a lot of work from oh well Joe at MHG said you're fantastic. Let me get you. Let's have a phone call. So those those are some of our best sales actually.
Joe: [00:20:20] So I mean I'm out of the Northeast and Mid-Atlantic so.
Jeffrey Gordon: [00:20:24] Oh what part?.
Joe: [00:20:26] Passed between Philadelphia and Baltimore.
Jeffrey Gordon: [00:20:29] Oh yes. is it Cold up there?
Joe: [00:20:32] No not yet. It's been a it's been a warm rainy. You know when I'm out here in a country so it's been it's been an interesting summer you know.
Jeffrey Gordon: [00:20:43] I think we have I think one of the rainiest years we've had a long time here. There was a month period where every night it was as poor.
Joe: [00:20:55] I know theres people want to find a way to take a whole lot of time on this but this is to me I like what I see what I see so far. Maybe you want to get it into a little bit more. Take a look at your Web site. Take a look at your resources out there what you've got. We're going to be the next step we will be any. We have somebody we can contact her to follow up on have any more questions.
Jeffrey Gordon: [00:21:23] That would be me, yeah.
Karelis: [00:21:24] I can connect to you as soon as this webinar is over, I'll check share emails with you guys
Joe: [00:21:33] Thank you. Thank you. And I'll shut up for now.
Jeffrey Gordon: [00:21:39] I will never shut up. According to my mother.
Karelis: [00:21:43] Okay so I think that is all. So if you want to connect, Joe, that's also for You. If you want to connect. Remember just to post the opportunity as well. That way we can all contact that gang.
Karelis: [00:21:57] And that's all from my side. I don't see any more questions so thank you so much for your time. Thank you so much everyone for joining us today.
Jeffrey Gordon: [00:22:05] Thank you guys. Yes. Recap all evening.
Karelis: [00:22:09] If any of you is interested in getting in contact directly with Gaddafi I'm just writing an email at email@example.com and I'll put you through directly to him. Okay, thank you.
Jeffrey Gordon: [00:22:20] All right. Thank you guys.