Funding Announcement
Ascertain, a healthcare technology firm, has announced the successful acquisition of $10 million in Series A funding. This funding round was led by Deerfield Management with additional participation from Northwell Health.
Overview of Ascertain’s Services
Ascertain offers an AI-enabled case management assistant designed to automate various administrative tasks. The platform aims to:
- Simplify operations for health systems, payers, and independent provider groups.
- Reduce the administrative workload for case managers.
- Facilitate care transitions by providing timely access to information.
- Automate tasks such as policy reviews, record summarization, payer communication, and documentation for post-acute referrals.
Utilization of Funds
The funds will be directed towards expanding the company and enhancing access to its AI-powered platform.
Collaboration with Northwell Health
Northwell Health’s transitions-of-care administration team has been testing Ascertain’s platform to streamline authorization processes. This initiative aims to allow case managers, nurses, and social workers to dedicate more time to patient care rather than administrative duties. Mark Solazzo, COO at Northwell Health, stated:
“This collaboration has demonstrated that Ascertain’s technology effectively addresses the unique challenges of complex healthcare organizations.”
Leadership Insights
Dr. Mark Michalski, CEO of Ascertain, emphasized the necessity of developing AI solutions to:
- Enhance operational efficiencies.
- Reduce the administrative burden on healthcare providers.
- Facilitate faster information sharing.
He noted that partnerships with Deerfield, Northwell, and Aegis will provide Ascertain with access to various distribution channels and data, which will improve efficiency for healthcare workers.
Market Context
In 2023, Aegis Ventures and Northwell Holdings launched Optain, utilizing AI-backed retinal imaging for early disease detection, with an initial investment of $12 million. Other notable initiatives include:
- Upliv: A virtual menopause care company launched in 2022 focusing on women’s healthcare equity.
- Suki: An AI-driven documentation tool that has expanded its partnership with Rush University System for Health to enhance clinical documentation across various specialties.