Ascertain Secures $10 Million to Transform Healthcare with AI

Healthcare professionals utilizing AI technology for case management.

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News Summary

Ascertain has raised $10 million in Series A funding to enhance healthcare technology through an innovative AI-enabled case management assistant. The investment from Deerfield Management and Northwell Health will help streamline administrative tasks in healthcare settings, allowing professionals to focus more on patient care. The company aims to alleviate the burdens faced by case managers and improve efficiency amidst a labor shortage in the industry. With this funding, Ascertain plans to expand its services and partnerships for better distribution and data accessibility.

Ascertain Secures $10 Million to Transform Healthcare with AI

In an exciting development for the world of healthcare technology, Ascertain has just raised an impressive $10 million in a Series A funding round. This boost comes from Deerfield Management and Northwell Health, signaling a strong belief in the company’s potential to revolutionize the way administrative tasks are managed in healthcare settings.

What Does Ascertain Do?

Ascertain has created an innovative AI-enabled case management assistant that aims to lighten the administrative load faced by healthcare professionals. The company is all about simplifying operations for health systems, payers, and independent provider groups. By automating various administrative tasks, Ascertain helps healthcare workers focus more on what truly matters — patient care.

How Does It Work?

The company’s solutions tackle a wide range of processes, including:
– Automating policy reviews
– Summarizing medical records
– Facilitating payer communication
– Documenting post-acute referrals
– Managing tasks related to disability claims

One of Ascertain’s key missions is to ease the burden of case managers, who often find themselves bogged down by manual paperwork—spending up to 60% of their time on these tedious administrative duties. However, this fresh infusion of cash will allow Ascertain to enhance its platform and increase the accessibility of its services to healthcare providers.

Pilot Programs and Real-World Impact

Northwell Health has already rolled out a pilot program using Ascertain’s platform, specifically targeting the authorization processes. This initiative allows case managers, nurses, and social workers to divert their attention away from paperwork and back to the patients who need them. The results have been promising, showcasing how technology can bridge the gap between administrative tasks and actual patient care.

Addressing Workforce Challenges

100,000 open positions in case management and administrative roles across the nation. Amidst such challenges, Ascertain’s technology appears to be a timely solution, helping healthcare providers streamline their workflows and improve efficiency. This means that healthcare professionals can dedicate more time to their patients while dealing less with tiring administrative processes.

A Solid Investment and Future Plans

Bringing the total funds raised by Ascertain to $21 million, this round follows an initial seed funding of $11 million earlier in 2022, which was also led by Aegis Ventures. With Northwell Health investing through its venture arm, Northwell Holdings, it’s clear that there is considerable confidence in Ascertain’s ability to tackle the operational challenges faced by healthcare organizations.

Collaboration for Growth

Ascertain also plans to leverage its partnerships with Deerfield, Northwell, and Aegis to explore new distribution channels, workflows, and access to valuable data. By collaborating with various health systems, Ascertain aims to drive efficiency and enhance the overall quality of patient care.

Relocating for Expansion

In light of its growing ambitions, Ascertain is relocating to Cure, Deerfield’s headquarters, indicating that significant growth is on the horizon. The landscape of healthcare is evolving, and there is a noticeable uptick in interest towards AI-driven solutions that can handle documentation and compliance workflows, as illustrated by other companies like Suki, which has already partnered with Rush University System for Health.

The Future Looks Bright!

With the funding secured and technological advancements on the rise, Ascertain is well on its way to transforming healthcare administration. As this company gears up to make big changes, healthcare professionals can look forward to a future where they can spend more time focusing on helping their patients rather than drowning in paperwork.