Ascertain Secures $10 Million in Funding to Enhance Healthcare AI
Ascertain Secures $10 Million to Transform Healthcare with AI
Reimagining Operational Workflows for Health Systems, Payers, and Providers
Ascertain, an innovative healthcare technology company, has successfully secured $10 million in Series A funding. This investment, predominantly led by Deerfield Management with strategic support from Northwell Health, aims to further solidify Ascertain's commitment to merging human expertise with artificial intelligence to address the evolving needs of the healthcare sector.
Overview of the Funding Impact
The newly acquired capital will facilitate the expansion of Ascertain's AI-driven solutions, designed to enhance patient care quality and streamline care processes. Through this investment, Ascertain seeks to widen its reach across health systems, insurance payers, and independent provider groups, promoting faster patient journeys and more efficient care delivery.
Ascertain's AI case management solution is particularly noteworthy, as it automates many manual processes that often bog down healthcare professionals. This allows case managers to redirect their focus toward critical areas such as care planning and managing patients with higher needs. Such a shift is essential, especially given that case managers typically dedicate nearly 60% of their time to administrative tasks, detracting from their primary responsibilities.
The Solution's Role in Healthcare
The need for automation in healthcare has never been more pressing, especially with over 100,000 job openings for case managers and related administrative roles across the United States. Ascertain's platform not only boosts operational efficiency but also empowers healthcare teams that may be struggling to cope with patient demands due to staffing shortages. By handling administrative duties like documentation and compliance, Ascertain's technology allows healthcare providers to focus their energies on patient-centered care instead.
Julian Harris, M.D., an Operating Partner in Healthcare Services at Deerfield Management, stresses Ascertain's unique approach: "Ascertain distinguishes itself by utilizing AI not just to enhance existing workflows but to completely reimagine the way care is delivered." This innovative thinking is crucial in cultivating partnerships that prioritize efficiency and patient care quality.
Partnerships Driving Clinical Efficiency
Ascertain's collaboration with Northwell Health exemplifies how operational efficiencies can be achieved in complex healthcare organizations. Their joint initiative, which focuses on streamlining authorization processes, frees up essential time for nurses, case managers, and social workers to devote to patient interactions—ultimately enhancing the overall care experience.
Mark Solazzo, the Chief Operating Officer at Northwell Health, acknowledges the ongoing challenges faced by case managers amidst rising administrative burdens. He notes, "This partnership demonstrates that Ascertain's technology effectively meets the unique challenges of healthcare today, paving the way for more productive partnerships with health systems looking to improve patient care outcomes."
Ascertain's Vision for the Future
As Ascertain prepares to broaden its services, the leadership of Dr. Mark Michalski, who has extensive experience in healthcare and technology from organizations like Mass General Brigham and Amazon, is pivotal. Under Michalski's guidance, the company has tailored its agentic AI solution to seamlessly integrate into existing healthcare workflows and systems.
Dr. Michalski emphasizes the critical necessity of deploying AI solutions to alleviate operational strains across healthcare. Collaborations with industry leaders like Deerfield Management and Northwell Health position Ascertain to initially streamline access to diverse distribution systems and improve overall efficiency for healthcare professionals.
Streamlining Case Management Processes
Amid the ongoing challenges of fragmented processes in healthcare, Ascertain equips case managers with the tools needed for better communication and management of care. By consolidating crucial conversations and automating mundane tasks, healthcare workers find themselves more empowered to ensure patients receive timely and appropriate care.
About Ascertain
Ascertain is dedicated to empowering healthcare teams through advanced AI technology. The company specializes in automating high-volume administrative processes, significantly reducing the workload on health systems, payers, and independent providers. Clients can opt for the Ascertain Automate enterprise platform or utilize tech-enabled services that manage these workflows on their behalf, ensuring that administrative tasks do not detract from essential patient care.
About Deerfield Management
Deerfield Management is an investment firm devoted to propelling healthcare through investment, information sharing, and philanthropy. With its insights across the healthcare ecosystem, Deerfield strives to connect various stakeholders in bold, innovative ways to address significant healthcare challenges.
About Northwell Health
As New York State's largest healthcare provider, Northwell Health operates 21 hospitals and approximately 900 outpatient facilities. Delivering care to over two million individuals annually, Northwell is committed to breaking new ground in medical research and training future healthcare professionals.
About Aegis Ventures
Aegis Ventures is a cutting-edge organization that collaborates with entrepreneurs to launch transformative healthcare companies. Their focus lies on leveraging technology to enhance quality and cost-effectiveness across healthcare services.
Frequently Asked Questions
What is the purpose of the funding secured by Ascertain?
The funding will enable Ascertain to expand its AI-powered healthcare solutions aimed at improving patient care and operational efficiency.
Who are the main investors behind Ascertain's funding round?
The funding round was led by Deerfield Management with additional investment from Northwell Health.
How does Ascertain's technology assist healthcare providers?
Ascertain's technology automates administrative tasks, allowing healthcare professionals to focus more on patient care and less on paperwork.
What challenges does the healthcare industry currently face?
The healthcare sector is experiencing labor shortages, administrative inefficiencies, and the increasing burden of manual tasks placed on clinical professionals.
How does Ascertain envision the future of healthcare?
Ascertain aims to leverage AI to enhance healthcare workflows, improving access to care and overall patient experience.
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