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Exela Technologies Announces Debut Of New Computer Assisted Auditing Tool By LexiCode

IRVING, Texas, Aug. 27, 2020 (GLOBE NEWSWIRE) -- LexiCode, an Exela Technologies, Inc. ("Exela") (NASDAQ:XELA) brand, today announced the availability of its LexiCode Audit Database (LAD)

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IRVING, Texas, Aug. 27, 2020 (GLOBE NEWSWIRE) -- LexiCode, an Exela Technologies, Inc. ("Exela") (NASDAQ:XELA) brand, today announced the availability of its LexiCode Audit Database (LAD) analytics tool, a web-based solution created to add value and efficiency to LexiCode's audit process. As data is entered in real time, the system continuously monitors and creates accuracy ratings to increase quality and transparency by tracking all elements of the coding process. The solution serves as a differentiator for LexiCode in the coding process by automating the accuracy calculations in addition to generating daily feedback summaries for the coders.
 

The solution takes the audit trail a step further than coding by helping the audit team determine what errors are occurring, what pain points clients are experiencing, and allowing LexiCode to provide customers with data-driven feedback. From this data, LexiCode can build a custom solution that covers all record types, helping customers maintain compliance and providing visibility.

"We're incredibly proud of LAD and the analytics that we're able to generate for our customers and our coders," said Amy Boozer, President, LexiCode. "Our coders and consultants work tirelessly to ensure that our coding services are high quality, and this tool helps provide them with the feedback used to develop customized education modules."

LexiCode's quality assurance team tracks over 660,000 accounts in its database each year and coded over 16.5 million records in 2019. The LAD reporting tool helps monitor the overall accuracy of these records, and creates a process to review and trendspecific areas of coding needed to provide tailored education to LexiCode's approximately 1,400 coders and consultants.