Enhanced Efficiency and Streamlined Workflows Empower Healthcare Professionals
GRAND RAPIDS, MI / ACCESSWIRE / May 15, 2024 / SpendMend, a leading provider of solutions to optimize the cost cycle for the healthcare industry, is thrilled to unveil the latest release of its Medical Device Warranty Tracking Software version 3.0. This update represents a significant advancement in healthcare administration, featuring enhanced efficiency and streamlined workflows to empower healthcare professionals.
SpendMend Medical Device Warranty Tracking Software provides a comprehensive solution for hospitals to automate in-depth reviews of warranty credits for explanted medical devices, helping organizations avoid costly fines, penalties, and issues related to Medicare Fraud. The latest version features an advanced Optical Character Recognition (OCR) system, now enhanced with cutting-edge AI capabilities, including deep learning and neural networks. These improvements ensure an unprecedented 99.5% accuracy rate in data extraction, transforming document handling with unparalleled precision and reliability.
Key improvements in SpendMend's Medical Device Warranty Tracking Software version release include:
"In this version release, we've embraced the transformative potential of generative AI to elevate the capabilities of our OCR technology," said Jeremy Toth, Chief Technology Officer at SpendMend. "Our software now goes beyond simple text recognition; it intelligently interprets and processes complex document structures, which greatly improves workflow efficiency and reduces the administrative load on healthcare professionals."
SpendMend remains dedicated to driving innovation in the healthcare industry, and the version release of the Medical Device Warranty Tracking Software exemplifies this commitment. Theresa Truitt Supply Chain Manager at University of Rochester had this to say, "I love the new upgrade. I loved the software before as it got rid of my logbooks and spreadsheets, but this is 100% better."
The new version is currently in production at healthcare system clients across the country and ready for general availability.
About SpendMend:
SpendMend is a leading provider of tech-enabled, cost-saving solutions in the healthcare industry. Combining the use of data, proprietary technology, and rigorous analytics with its healthcare focus and expertise, SpendMend partners with healthcare networks to expose dark data to improve and optimize their costs in meaningful and collaborative ways. SpendMend's mission is to help its clients improve their patient care through innovative cost-saving solutions.
For media inquiries, please contact:
Kylee Savage
Communications Manager
SpendMend
ksavage@spendmend.com
Contact Information
Kylee Savage
Marketing Manager
ksavage@spendmend.com
616-257-8331
SOURCE: SpendMend
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