Notable Systems, flush with $12M in new funding, moves beyond order intake 

DENVER – Notable Systems plans to offer Payor Greenlight System, an AI-powered tool that provides instant pass/fail results based on reimbursement criteria, for all major payers and product categories by the end of the second quarter of this year. 

For orders that fail, the system, which the company introduced at Medtrade in February, also identifies errors and provides reasons for them.  

“It’s a full read out,” said Steve Johnson, CEO and co-founder, who launched Notable Systems in 2017 with President John Huggins and CTO David Lippke. “This technology doesn’t just extract the information you need; it makes a judgment about the order and provides insights.” 

Notable Systems, which recently announced a $12 million growth investment led by Harbert Growth Partners and Grotech Ventures, now has about 30 customers, all DME providers. 

One of those customers, before going live with the technology earlier this year, dropped thousands of historical orders into PGS to test the system’s accuracy for evaluating criteria and completeness. It found the system’s assessment was different than Medicare’s determination for 500 orders. 

“But on closer inspection, we found that for 497 out of those 500, Medicare was wrong about its own payer rules – a mix of incorrect approvals and denials,” Johnson said. “We had a near 100% accuracy rate.”  

This had a “profound effect” on the customer, Johnson says. 

“At the end of the day, these are instances where payment is potentially denied,” he said. “This system can bring their deferral rate way down and help them avoid write-offs.”   

Notable Systems also recently integrated with NikoHealth and Valere Health. The latter will serve as a vehicle that will move information from Notable Systems to a customer’s billing software, Johnson says. 

“They have a technology that we haven’t gotten around to yet – a bot technology – that will provide the glue that we need,” he said. 

• Hot take: If e-prescribing becomes prevalent, won’t that make intelligent document processing unnecessary? “I don’t think it will be prevalent in five years or ever,” he said. “It’s been five years for 30 years now and faxes are still prevalent. But we’ve also gone on to other things like PGS that won’t be accommodated by e-prescribing. Whether the order is correct or incorrect is a much bigger problem than the intake process.”  
• Fun fact: Earlier in his career, Johnson invented technology to compress digital photos so they could be shared online and sold the license to AOL. “I was running their tech division for most of the 90s,” he said.