CoverSelf, a unified platform for healthcare claims and payment integrity, has announced the appointment of Ashish Singh, Advisory Partner at Bain & Company, as its new Board Director. This development comes on the heels of the company’s recent close of an $8.2 million seed round.
Ashish Singh is a well-known and deeply respected Bain & Company leader. He led Bain’s global Healthcare and Life Sciences (HLS) practice from 2012 to 2018 and served two terms on Bain’s global Board of Directors in the same time period. Ashish also founded Bain & Company’s India office and was at its helm as Managing Director (2005-2011) and Chairman (2011-2014). Over the years, he has co-founded Bain’s Enterprise Software, Media & Entertainment, Pharmaceutical, and Payer practices.
‘We are thrilled to welcome Ashish onboard as our Board Director,’ said Rajasekhar Maddireddy, Co-founder of CoverSelf. ‘He is a veteran in this space and brings invaluable experience in formulating overall strategy and US GTM strategy, as well as in-depth knowledge of the US healthcare system and health plans. Not to mention, his broad network of relationships across the industry will benefit us in the long term.’
CoverSelf was founded in 2021 by US healthcare domain experts Rajasekhar Maddireddy and Raghavendra Pawar to tackle the ever-increasing claims inaccuracies and waste in the healthcare industry. The company aims to democratize the healthcare claims and payment integrity industry by creating a first-of-its-kind, fully open and transparent solution that empowers payment integrity teams in health insurance companies (payers) to transparently resolve health claims with hospitals and medical practices (providers).
‘According to recent reports, the $9 billion PI industry has grown at around 7% CAGR in recent years. This just shows the inherent complexity of the billing processes. The truth is, over the years, there has been a perceptible negative impact on providers’ experience with payments, and trust in payers has taken a significant hit. This has resulted in ballooning waste and improper payments. Given this scenario, I’m glad to lend a helping hand to CoverSelf’s mission,’ said Ashish Singh, Board Director of CoverSelf.
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