Decimal Code in Ann Arbor was founded in 2023 by Joey Panella, John Vandervest, and Mike Burns to develop software to reduce error, decrease time spent, and increase revenue for medical coding.
The company’s product automates Current Procedural Terminology coding via artificial intelligence solutions developed by a team of developers, data scientists, physicians, and PhDs from the University of Michigan to help health care providers capture underbilled revenue and eliminate operational waste through automated medical coding.
“Decimal Code was born out of Michigan Medicine, backed by six years of R&D and built using 15 million cases across 60 research hospitals,” says Panella, CEO of Decimal Code. “Our team is comprised of clinicians, data scientists, researchers, and medical billing experts. Every solution we’ve designed is informed by feedback from medical coders.”
Decimal Code uses a patented natural language processing machine learning algorithm developed at Michigan Medicine. It is able to take medical text and assign medical code predictions with a confidence interval. Decimal Code achieves 70 percent automation, and for 99 percent of predictions, the correct code is contained within Decimal Code’s top three predictions.
Panella adds that its core technology has roots in the Multicenter Perioperative Outcomes Group (MPOG), a collaborative of more than 60 participating hospitals ranging from large academic centers to small community hospitals.
In related news in today’s newsletter, Decimal Code earned top honors in the health care sector during the recent Invest360 event hosted by Ann Arbor Spark. In turn, the company won the “People’s Choice” vote, which included an additional $50,000.
- Name: Decimal Code
- Address: 1600 Huron Pkwy., Ste. 2326, Ann Arbor
- Email: joey@decimalcode.com
- Website: decimalcode.com
- Phone Number: 816-820-6632
- Category: Technology
- Founded: 2023
- Founder: Joey Panella, John Vandervest, Mike Burns
- Number of Employees: 3
- Most Recent Annual Revenue: NA
- Video Link: N/A
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