Zentist Platform Reaches $100 Million in Annual Dental Insurance Collections
First-of-its-kind scalable insurance billing solution on the market for growing DSOs.
SAN FRANCISCO, July 28, 2021 /PRNewswire-PRWeb/ -- Zentist, the automated dental insurance claims processing platform, has officially reached $100 million in annualized insurance collections. Building upon its innovative billing infrastructure, notable upgrades to Zentist's proprietary revenue cycle management (RCM) platform—particularly in the automation of claims and its lifecycle integrations—have led to this surge of new business in 2021 thus far. At a time when dental providers leave nearly $2.1 billion on the table each year due to legacy billing systems, Zentist is maximizing payouts, easing the frustration of RCM scaling, and streamlining dental insurance billing for dental service organizations (DSOs).
Zentist simplifies and streamlines the RCM process by:
- Collecting insurance revenue consistently, reliably, and quickly;
- Reducing insurance aging accounts receivables; and
- Freeing up valuable staff time to focus on patient engagement and boosting production.
"Dental insurance is the most important source of revenue for private dental practices and dental groups," says Zentist CEO Ato Kasymov. "While new payment technologies now allow consumers to transact with a single click or tap, insurance claim processing involves navigating outdated practice management software, manually tracking and calling to follow up on unpaid claims, and painstakingly posting individual payments back into the patient's ledger."
In less than 10 months, Zentist has been able to provide a solution that fully automates 75% of insurance claims submissions, without any human review. Furthermore, Zentist's platform has built in lifecycle integrations from five of the top dental software providers, resulting in an increase of claims from 20,000 this past December to 82,000 in June 2021.
By proving its ability to scale with larger organizations, Zentist has expanded its client base from small practices to emerging dental groups and DSOs, increasing revenue by 20% month over month since December 2020. The underlying catalyst for this growth was Zentist's $14 million Series A round in late 2019, which was led by Costanoa Ventures—with participation from Point Nine Capital, Fika Ventures and Commerce Ventures.
For the rest of 2021, the team is looking to automate even more of its claims process and expand its client integrations for all the most important 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 businesses lose an estimated $2.1 billion due to legacy billing systems, Zentist leverages robotic process automation (RPA) and machine learning to place 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 for RCM scaling. Its software minimizes human error, maximizes insurance payout, provides advanced analytics on revenue, and improves the patient-provider relationship.
Media Contact
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SOURCE Zentist
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