Improving Healthcare Net Collection Rates & Reducing Cost To Collect: Interview with Akash Magoon & Aman Magoon,Co-Founders, Adonis

Brothers Akash & Aman Magoon co-founded Adonis with the mission to improve healthcare net collection rates and reduce the cost of collecting. 

 

They say 1 in 7 of the $4.3-trillion spent on healthcare is related to the cost of collecting revenue from patients and payers. 

 

What’s more - they say that due to rejection and denials, healthcare organizations leak 10%+ of revenue.

 

Adonis sits on top of clients’ existing tech, and uses AI/machine learning to make denials less and less likely, which in turn reduces admin burden, and frees up time and money to focus on patients.

 

Check out the interview with Akash and Aman to learn more about their work, and how Adonis will be using their recently-announced Series A funding.

 

Learn more about Adonis: https://www.adonis.io 

 

Connect with Akash Magoon: https://www.linkedin.com/in/akash-magoon-148a3029/ 

 

Connect with Aman Magoon: https://www.linkedin.com/in/amanmagoon/ 

 

Topical time codes:

00:41 - About Adonis

1:47 - Automating the process and decreasing costs

3:10 - Reasons for denials

5:31 - Using data to reduce denials

7:31 - Eliminating admin burden 

8:55 - Ensuring payments process

11:54 - Experience of those using Adonis

14:01 - Series A funding 

16:37 - Importance of core values at Adonis

17:55 - Why they’re tacking this area of healthcare

 

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Thanks to the following organization for supporting the Making Healthcare Work for You mission.

 

Informed Consulting works with insurance carriers, digital health companies, insurtech organizations, and venture capital firms to drive distribution solutions in the employee benefits ecosystem.

They help companies reach revenue potential, confidently navigate a complex ecosystem, and position benefit ecosystem innovations for more efficient growth.

 

Visit https://www.informed.llc to learn more.