Ajay Kapoor, Founder, Director & President and Rajat Kapoor, Founder, Director & CEO
The rising cost of healthcare, increased adoption of technology, prevalence of quality and performance based reimbursement models, and evolving physician-hospital-patient dynamics are forcing the healthcare industry to recast business and care delivery processes. Public and private health systems have been facing revenue pressures and declining margins for years. The trend is expected to persist as increasing demand, infrastructure upgrades, and therapeutic and technology advancements strain the already limited financial resources. “The effectiveness of the revenue cycle management operations has a direct impact on the quality of care provided by an institution,” begins Rajat Kapoor, Founder, Director, and CEO of Ascent Health Solutions.
Defining Nothing but the Best
In line with the current industry needs, Ascent Health Solutions, a full-service revenue cycle management (RCM) and health information management company emerges as the clear winner with their deep focus on improving financial performance for healthcare organizations while bettering patient outcomes. Underpinning their proficiency is a unique combination of best of breed processes, innovative technology, deep rooted domain expertise, and highly skilled professionals owing to which Ascent has achieved a prominent lead in the healthcare space today. Ascent services clients across 26 states in the U.S.A and from over 30 medical specialties, covering the entire gamut of providers from small physicians, surgical centers, to large healthcare groups. “Given the trend of declining reimbursements in the healthcare industry, our proven outcomes-based model is assured to increase net revenues by up to 35 percent, reduce cost of collection up to 60 percent and up to 40 percent reduction in days in AR,” says Ajay Kapoor, Founder, Director, and President of Ascent Health Solutions Inc.
Our proven outcomes-based model is assured to increase net revenues by up to 35 percent, reduce cost of collection by up to 60 percent and up to 40 percent reduction in days in AR
Today, Ascent’s drive for excellence outshines other solution providers, and it is worthy of note that in the last seven years the company has observed 100 percent client retention and the bulk of their growth comes from client referrals. This speaks volumes about the company’s client-centric approach. Kapoor states, “We don’t believe in one-size-fits-all and specifically tailor all our solutions to address an institution’s operational and financial challenges.” At the onset of every project, Ascent conducts a thorough performance assessment to benchmark where an organization stands in the industry, structures specific solutions to improve their current position, and defines the timeframe in which objectives will be achieved. Moreover, while other vendors in the market opt for a transactional mindset, Ascent focuses strongly on business outcomes for its clients.
These sparkling results are a collective outcome of Ascent’s excellent service quality, competency matrix model, robust and innovative technology, and deep rooted domain expertise that add genuine value to clients’ business process. “Ascent’s best of breed processes span across all facets of our business from hiring, training methodologies, HR policies, client engagements, transition methodologies, quality management and compliance programs.”
Cutting-Edge Solutions at the Core
To give a closer view of Ascent’s value proposition, their unparalleled solutions delivery and quality is made possible through their comprehensive range of RCM services that include performance assessment, eligibility and benefits verification, credentialing and provider enrolment, medical coding, clinical documentation compliance, medical billing, denials resolution, and AR follow up with Insurance and Patients, credit balance, medical transcription and customized application development. Since quality documentation is vital to providing high-quality patient care, Ascent offers a one-of-a-kind service called EMRScribe that allows physicians to directly upload digital audio dictations or use a cloud dictation service to capture detailed notes. Ascent’s skilled coders then code the documents directly into the EMR and also identify any gaps in clinical documentation.
Ascent’s deep domain expertise has yielded unique technology differentiators and value adds for all their clients in improving their financial and patient outcomes—ProWizard, RevWizard, and PatientWizard. Even for the most diverse healthcare systems with multiple technology platforms, Ascent’s unique ability to integrate clinical and financial outcomes sets them apart from the peers in the industry.
ProWizard, a HIPAA compliant integrated suite of RCM best practices, can work seamlessly with any client technology platform. “An amalgamation of over 15 years of hard work and expertise, ProWizard is stirring a paradigm shift in healthcare as it uses big data analytics and machine learning to drastically bring the average touch points down from five to two in claims resolution and denials management,” mentions Kapoor with pride. Needless to say, Ascent’s clients benefit with tremendous reduction in cost to collect, up to 40 percent reduction in days in AR, and big increase in cash flow.
But that’s not all. Their RevWizard is an integrated suite of business analytics that empowers healthcare organizations to make intelligent data-driven decisions. By combining ProWizard and RevWizard, users also get access to deep level actionable insights and analytics, in real time from multiple locations all at the click of a button. The information can easily be accessed through a web interface or smart phones, and the analytics tool is unlike anything organizations expect from their regular technology investments. Adding further credence is Patient Wizard, a patient engagement tool that allows patients to avail reliable clinical and financial information anytime and anywhere. “It’s a win-win situation as clients have complete visibility into their care payment status and providers can foster complete trust and expect timely self-pay cash flow,” adds Kapoor.
The Face of Next Generation RCM
Amidst their compelling growth, the near future is even more promising for Ascent as the company plans on expanding in terms of their geographical footprint, infrastructure, human resources, and processes. To improve the stability and efficiencies of their processes, while eliminating human errors, Ascent is looking at implementing machine learning, AI, and robotic process automation. Furthermore, to always stay ahead of the curve, they will continue to invest heavily in learning and development as well as integrate with leading-edge technology platforms, EMRs, and practice management software. At the end of it all, under the guidance of Ascent’s seasoned thought leadership and exceptional white glove service, it is apt to say that Ascent Health Solutions has emerged as the go-to healthcare services provider in the U.S. today.