Our Co-Founder and CEO, Akash Magoon, recently had a chance to sit down with FinMed partners for a CEO chat. Read the full CEO chat on FinMed, or keep scrolling to discover the conversation.
What problem was Adonis founded to solve?
$1 in every $7 spent on healthcare is attributed to collection and insurance-related activities. As a result, demand to more predictably collect revenue has grown exponentially. Improper claim filing leads to billions of dollars lost every year — compounding this, healthcare’s ongoing labor crisis and macroeconomic factors are putting pressure on hospitals’ bottom lines.
Healthcare providers are unable to collect, at minimum, 15% of revenue they’re owed — a result of operational fragmentation that exists between patients, payers, and providers. Adonis was founded to help providers maximize collections so that they can focus on what matters most: providing best-in-class care.
How do you describe Adonis' right to win in your market?
Adonis is comprehensive enough to address every RCM challenge, yet flexible enough to deploy solutions anywhere in the revenue cycle. From pre-certification through AR follow-up – and everything in between – the Adonis platform can be deployed to address any or all RCM challenges. ML-prioritized Smart Worklists and workflows underpin each platform module, giving RCM teams a single interface to manage across the revenue cycle.
Adonis is powered by Intelligence, actionable alerting, and predictive insights derived through remittance data and machine learning models. Adonis learns and improves with each claim to identify savings opportunities over time. Adonis gleans insights from your data, provides recommended decisions, and helps operationalize improvements.
What are your key goals and definition of success in the next 12 months?
Our primary goals for the next 12 months are centered around two key areas: business growth and customer satisfaction. To drive business growth, we aim to enhance sales efficiency and streamline our customer onboarding process. On the customer side, our focus is on maximizing ROI across our product portfolio, ensuring that our customers derive substantial value from our technology. To support these objectives, we are actively expanding our teams across all departments.
