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Press Releases

Lexalytics Data Extraction Services Enables Hybrid Analysis of Both Structured and Unstructured Data from Corporate Documents

Offering Brings Industry-Leading Natural Language Processing Technologies to Document Data Extraction Market Boston, MA—September 19, 2018Lexalytics®, the leader in “words-first” machine learning and artificial intelligence, announced today the launch of Lexalytics Data Extraction Services, the first data extraction software and services that combine Lexalytics’ industry-leading AI-based, natural language processing (NLP) technologies with the ability to […]

Offering Brings Industry-Leading Natural Language Processing Technologies to Document Data Extraction Market

Boston, MASeptember 19, 2018

Lexalytics®, the leader in “words-first” machine learning and artificial intelligence, announced today the launch of Lexalytics Data Extraction Services, the first data extraction software and services that combine Lexalytics’ industry-leading AI-based, natural language processing (NLP) technologies with the ability to classify both structured and unstructured content to gain more insights and value from corporate documents. Lexalytics Data Extraction Services significantly reduces the time and labor costs of document data analysis and extraction, while improving the accuracy and insights available within the data.

While there are companies that currently offer software capable of “scraping” documents like PDFs and Microsoft Word files containing structured data in tables like dates, billing codes, payment timeframes, support requirements, subscription details, reaction ratios and statistical tests, many documents are a hybrid containing not just that structured content, but also free, unstructured text.

Traditionally, analysts in the fields of law, market research, insurance, healthcare, real estate, financial services and others have lacked an effective way of melding the structured and unstructured data from their documents into a coherent database to properly access, view and analyze it all in one place. Lexalytics Data Extraction Services leverages its best-in-class Salience text analytics engine to provide greater insights and automatically organize data into a format that includes features such as summarization, sentiment analysis, intentions, named entity extraction, categories and themes.

Lexalytics has been a leader in extracting insights from unstructured data for more than 15 years, said Jeff Catlin, CEO of Lexalytics. Lexalytics Data Extraction Services represents the first time we’ve brought this capability to the document data extraction market, and we’re excited to help companies go beyond what the current technology allows.

One industry example of the benefits of Lexalytics Data Extraction Services is in healthcare. Medical coding and billing is an expensive and error-prone process. In fact, the ICD-10 (the latest revision of the International Statistical Classification of Diseases and Related Health Problems, a medical classification system from the World Health Organization) contains more than 70,000 codes, not to mention the thousands of codes in other mainstream systems. The actual coding processes are extremely complicated, too, involving half a dozen or more codeable components where each component has to be translated into an electronic health record (EHR) code from the doctor’s notes, which can be hard to read.

Faulty claims get denied by the payor creating delays and leading to lost revenue for the provider, and in cases involving Medicare, the Office of the Inspector General may fight back against over-billing with lawsuits. Additionally, the American Medical Association issues hundreds of updates per year to their coding systems. Hiring a group of people to receive these documents and make updates to the EHR system or data warehouse by hand can cost hundreds of thousands of dollars and lead to denied or delayed claims and repayments. Lexalytics Data Extraction Services solves these problems by automatically extracting, indexing and categorizing the complex coding data, enabling it to be inputted into the organization’s EHR system or database.

Moreover, Lexalytics can go beyond just extraction and categorization. Lexalytics’ understanding of the underlying text through AI-based NLP allows it to analyze the newly-structured data, and do things such as create an intelligent recommendation system to help physicians prescribe the right treatments and give staff content-rich details about where a particular treatment code is applicable, when it’s reimbursable and how to bill for it.

Lexalytics Data Extraction Services can analyze and structure documents from virtually any format, including PDF, TXT, XML, HTML and Word, and then export it into standard ERP systems and Excel.

Availability

It is available today. For more information, visit: https://www.lexalytics.com/contact

About Lexalytics®

Processing billions of words every day across more than 20 languages, Lexalytics is the industry leader in translating text into profitable decisions for social media monitoring, reputation management and voice of the customer programs. In addition, the Lexalytics Intelligence Platform leverages leading-edge artificial intelligence and natural language processing to allow enterprises across all industries to quickly, easily and cost-effectively create custom analytics solutions to address their unique data problems. Based in Boston, MA, Lexalytics has offices in the US and Canada. For more information, please visit www.lexalytics.com, email sales(at)lexalytics(dot)com or call 1-617-249-1049. Follow Lexalytics on Twitter, Facebook, and LinkedIn.

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Other Press Releases

2018-09-19 Lexalytics Data Extraction Services Enables Hybrid Analysis of Both Structured and Unstructured Data from Corporate Documents
2018-08-16 Lexalytics® Updates Intelligence Platform with New Benefits for European Union Customers
2018-06-05 Lexalytics® and University of Massachusetts Amherst to Present at NAACL
2018-04-25 Lexalytics® Announces “Get Out of the Cloud” Campaign for Seamless Transfer of Natural Language Processing from Cloud to On-Premise
2018-03-14 Lexalytics® Launches Support for Unicode Emoji 11.0
2017-12-11 Lexalytics® Launches New Artificial Intelligence Development Platform to Help Customers Quickly Build, Customize and Deploy Natural Language Processing Applications
2017-10-24 Lexalytics® Recognized in Gartner 2017 Hype Cycles for Data Science and Machine Learning, Analytics and Business Intelligence, Imaging and Print Services and Life Science Research and Development
2017-06-15 Lexalytics® Releases New Text Analytics Software for Retailers to Improve Online Shopping Experience
2017-04-05 New Software from Lexalytics® Helps Human Resources Departments Design More Effective Voice of the Employee Programs
2017-01-25 Lexalytics® Unveils Magic Machines™ AI Labs to Drive Innovation in Building and Managing Artificial Intelligence
2016-11-02 Lexalytics’ New Survey Analysis Tool for Customer Loyalty/Sales
2016-10-14 Lexalytics Improves Text Analytics with New Machine Learning
2016-08-01 Semantria Text Analytics Platform Available on Microsoft Azure
2016-07-20 Lexalytics® Simplifies Pharmaceutical Market Research and VOC
2016-07-08 Lexalytics® to Present on NLML at Sentiment Analysis Symposium
2016-04-06 Lexalytics® NLP & Sentiment Analysis for Android™ Social Media
2016-01-26 Lexalytics® Brings Text and Sentiment Analytics to Mac®
2015-12-15 Lexalytics®’ Text Analytics Software Airlines Industry Pack
2015-12-03 Lexalytics®,Text Analytics Presenters Gilbane Conf. 2015
2015-11-23 Lexalytics® Adds Polish Language Support
2015-10-21 Lexalytics® Hospitality/Restaurant Industry Packs Simplify CEM
2015-09-29 Lexalytics Adds Danish, Norwegian and Swedish
2015-06-03 Lexalytics® Enhances Feature-Rich Salience® Analytics Software
2015-05-12 Lexalytics® Unveils Text Mining and Sentiment Analysis Wizard
2015-04-23 Lexalytics to Present at Text by the Bay Conference
2015-04-15 Lexalytics’ Adds Arabic, Russian, and Dutch
2014-12-08 Lexalytics Adds to Text Analytics, Includes Intention Analysis
2014-11-06 Lexalytics Launches Pain-Free Text Mining Customization
2013-10-23 Lexalytics Announces Availability of Salience in Chinese
2013-09-04 Lexalytics to Sponsor Brighton Data Storytelling Hackathon
2013-06-20 Lexalytics Announces Availability of Salience 5.1.1
2013-04-25 Semantria & Lexalytics Give API Access for Viafoura Hackathon
2012-11-08 Lexalytics Announces Portuguese Native Phrase-Based Sentiment
2012-10-17 Lexalytics Announces Spanish Native Phrase-Based Sentiment
2012-06-14 HStreaming & Lexalytics Deliver Text Analytics for Big Data
2012-06-12 Lexalytics & FutureEverything Capture Opinion of 2012 Olympics
2012-05-31 Lexalytics Announces Speakers for Upcoming User Conference
2012-05-31 Angoss Software and Lexalytics Form Partnership
2012-04-04 Lexalytics Powers New Bitly Reputation Monitoring Service
2011-04-12 Lexalytics Announces Salience 5.0
2011-03-07 MediaVantage & Lexalytics Offer Multi-Lang Sentiment Analysis
2010-12-07 Lexalytics Predicts 2011 Text/Sentiment Analysis Market
2010-11-29 DataSift Taps Lexalytics to Help “Tune Your Data”
2010-09-20 Lexalytics Unveils Sentiment Analysis of Emoticons, Acronyms
2010-06-30 Lexalytics Releases Salience 4.3
2010-05-24 Lexalytics Expands into New Markets
2010-05-16 Lexalytics Moves to Boston
2010-05-04 bit.ly to Join Lexalytics at 6th Text Analytics Summit
2010-03-23 Lexascope Web Service for Social Media/Sentiment Analysis
2010-03-09 Lexalytics Discusses Text & Sentiment Analysis Trends
2009-10-20 Lexalytics, Inc. Joins Endeca Extend Partner Program
2009-06-24 Lexalytics to Provide Text Analytics for First Coverage
2009-04-05 Lexalytics’ Salience 4.1 with Entity Management Toolkit
2008-10-21 Salience 4.0 With Improved Entity Extraction/Sentiment Scoring
2008-10-09 Lexalytics Unveils The “ExecDex” Who’s Hot Ranking System
2008-10-01 Lexalytics Hires VP of Engineering
2008-09-21 Market Intelligence Co’s Use Lexalytics Sentiment Analysis
2008-09-07 Lexalytics signs Conversition and mBLAST
2008-09-02 Market Intelligence Tool Harnesses Text Analytics
2008-07-27 Infonic Merges its Text Analytics Business with Lexalytics
2008-05-19 Lexalytics Named 2008 MITX Technology Awards Finalist
2008-03-16 CEO, Jeff Catlin, New Communications Forum 2008 Speaker
2008-02-25 2008 Presidential Campaign Blog Sentiment Survey
2008-01-14 SmartBrief to Integrate Lexalytics Classification Solution