M*Modal Completes Restructuring, Emerges From Chapter 11
M*Modal announced it successfully completed its financial restructuring, reducing its debt by 55%, and has emerged from Chapter 11 bankruptcy.
“With renewed financial strength, M*Modal is firmly positioned to deliver the highest quality and most advanced clinical documentation to hospitals and physician practices,” said Duncan James, M*Modal’s CEO. “Our new capital structure will better support M*Modal’s continued investment in delivering innovative transcription, coding and speech technology solutions, and will provide a stronger foundation to execute on our strategic plans. Specifically, M*Modal is uniquely capable of delivering integrated clinical documentation solutions that accurately and efficiently document speech narratives of complex patient and physician interaction into electronic health records. Our solutions support the capture and care collaboration of over 60 million medical visits each year, enabling physicians to save time, hospitals to receive appropriate reimbursement, and patients to receive better care.”
M*Modal’s Plan of Reorganization was confirmed by the U.S. Bankruptcy Court for the Southern District of New York by an order entered on July 21, 2014.
M*Modal is a healthcare technology provider of advanced clinical documentation solutions, enabling hospitals and physicians to enrich the content of patient electronic health records or electronic medical records for improved healthcare and comprehensive billing integrity.
Previously on abfjournal: M*Modal Files Voluntary Chapter 11, March 20, 2014