LOS ANGELES, Jan. 10, 2006 (PRIMEZONE) -- AssistMed, Inc. today announced it has acquired Lexicore, LLC, a leading provider of speech recognition solutions for healthcare organizations. Terms were not disclosed.
"This strategic acquisition significantly enhances AssistMed's position as a provider of total solutions for clinical documentation, practice management, knowledge extraction, and other applications related to electronic health records (EHRs). It now enables our organization to offer a full-spectrum of software and services to address the clinical information needs of healthcare practitioners, while providing a unique high-level of support for important government initiatives focused on creating affordable, patient-centric Community Electronic Health Records," said Leonardo Berezovsky, M.D., chairman and chief executive officer of AssistMed.
Lexicore's software enhances the output of back-end speech recognition engines, dramatically improving transcription productivity. Advanced linguistic technology first corrects some of the errors made by the engine. Then it formats the report with all the section headings and lists desired by the client organization. Transcriptionists, functioning as editors, are able to view the resulting output while listening to the dictation. They simply correct any remaining errors -- substantially reducing the cost compared to traditional transcription.
"AssistMed provides physicians with all the benefits of electronic health records, without requiring them to change their mode of documenting clinical reports. While structured input is available, healthcare professionals may elect to dictate some or all of their notes. The free text resulting from Lexicore's solution can be processed through AssistMed's powerful natural language processing (NLP) software to extract the clinical facts and then convert the information to codes, thereby providing the attributes of structured input. All clinical information is integrated in AssistMed's EHR, with easy and flexible viewing options," Berezovsky said.
"We are excited to be joining forces with AssistMed, The Complete EHR Company. No other vendor provides as comprehensive a solution for clinical documentation, combining physician-friendly structured input with NLP-enhanced dictation. AssistMed will continue to provide Lexicore's software to healthcare organizations and transcription companies that wish to plug speech-recognition into their existing dictation/transcription platforms, potentially along with NLP. Our software will also be integrated into AssistMed's EHR for those clients seeking to acquire a more total solution," added Joe Weber, chief executive officer of Lexicore, who will join AssistMed as vice president for business development.
About AssistMed, Inc.
Based in California, AssistMed is an enterprise systems integrator, developer, and provider of Internet-based dictation/transcription and electronic health record (EHR) application services utilized by physicians, hospitals, payors, and research organizations. Additional information is available at www.assistmed.com.
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