Calm Waters AI—an AI-driven technology solution that optimizes Evaluation and Management (E/M) coding for healthcare providers—has been named a finalist for the 2023 NEXT Award for Technology Startup of the Year from the Nashville Entrepreneurial Center.
Calm Waters AI seamlessly integrates into providers’ electronic health record (EHR) systems, then leverages artificial intelligence to autonomously level E/M coding on patient charts in milliseconds. The system saves time and optimizes chart accuracy, reducing the risk of costly audits and claims denials by payors.
“We are thrilled to be named as a finalist for this honor,” said Joe Ferro, CEO of Calm Waters. “It provides important validation of the need for this type of healthcare ops technology in addition to the high demand we’ve seen for Calm Waters AI from provider groups across the U.S.”
E/M coding, noted Ferro, has long been a pain point for physician groups because the traditional manual process is time-consuming and prone to human error. As a result, providers often practice “defensive coding,” leaving billable revenues unclaimed out of fear of costly audits and resubmissions.
“Calm Waters AI is a game-changer that achieves 97% chart accuracy while saving each physician up to one hour per day they previously had to spend on documentation,” Ferro said. “It also speeds up billing and enables providers to capture revenues for all documented services.
Calm Waters AI is part of a growing platform of AI-driven solutions powered by Montecito Medical that enable physicians and provider groups to increase revenues, decrease costs and build wealth.
“Our company exists to help physicians thrive,” said Chip Conk, CEO of Montecito Medical. “After building a reputation for helping providers build wealth and stronger practices through medical real estate, we have created a powerful technology platform that extends our mission by helping physicians increase revenue, reduce costs and build wealth.”
Other solutions in Montecito’s platform include Winnow, which supercharges clinician recruitment for providers, and Scout Insight, a customized, AI-powered decision support engine that helps providers make important decisions about growth and expansion with greater speed and confidence. Winnow received the NEXT Award for Healthcare Startup of the Year in 2022.
The NEXT Awards are bestowed as part of an annual ceremony that recognizes entrepreneurs who are transforming industries and strengthening the Middle Tennessee community and beyond. The program honors businesses across different sizes and industry categories. The Nashville Entrepreneur Center (NEC) is a non-profit founded by business leaders who wanted to support the next generation of entrepreneurs and celebrate the spirit and tenacity of the Nashville entrepreneurial community.