SAN FRANCISCO, July 28, 2021 /PRNewswire-PRWeb/ — Zentistthe automated dental insurance claims processing platform, has officially reached $100 million in annualized insurance collections. Building on its innovative billing infrastructure, notable upgrades to Zentist’s proprietary Revenue Cycle Management (RCM) platform, particularly in claims automation and its lifecycle integrations, have so far has led to this wave of new business in 2021. In a time when dental providers are almost quitting $2.1 billion on the table every year due to legacy billing systems, Zentist maximizes payouts, alleviates the frustration of scaling RCM, and streamlines dental insurance billing for Dental Service Organizations (DSOs).
Zentist simplifies and streamlines the RCM process by:
- Collect insurance revenue consistently, reliably and promptly;
- Reduce aging insurance receivables; and
- Freeing up valuable staff time to focus on patient engagement and boosting production.
“Dental insurance is the biggest source of revenue for private dental practices and dental groups,” says Zentist CEO Ato Kasymov. “While new payment technologies now allow consumers to complete one-click transactions, processing insurance claims involves navigating outdated practice management software, manually tracking and calling for the tracking of unpaid claims, and careful publication of individual payments in the patient register.”
In less than 10 months, Zentist was able to deliver a solution that fully automates 75% of insurance claim submissions, without any human review. Additionally, Zentist’s platform has integrated lifecycle integrations from five of the leading dental software vendors, which has led to an increase in claims from 20,000 last December to 82,000 in June 2021.
Proving its ability to scale with larger organizations, Zentist has expanded its customer base from small practices to emerging dental groups and DSOs, growing revenue 20% month-over-month since December 2020. The underlying catalyst for this growth was Zentist’s $14 million Series A in late 2019, led by Costanoa Ventures, with participation from Point Nine Capital, Fika Ventures and Commerce Ventures.
For the remainder of 2021, the team is looking to further automate its claims process and expand its client integrations for all major DSO management solutions.
About Zentist
Zentist is a platform that uses advanced technology to simplify and automate insurance revenue cycle management (RCM) for dental practices. At a time when dental companies are losing approximately $2.1 billion Due to legacy billing systems, Zentist leverages robotic process automation (RPA) and machine learning to put otherwise tedious billing tasks on autopilot. Zentist’s platform is fully and easily scalable to meet the more complex billing needs of the modern dental industry, which has been marked by aggressive consolidation and unprecedented pressures to scale RCM. Its software minimizes human error, maximizes insurance payout, provides advanced revenue analytics, and improves the patient-provider relationship.
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SOURCE Zentist
