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MailApril 2022--At the Women in DSO (WinDSO) inaugural event in March of 2022, Patient Prism’s CEO Amol Nirgudkar interviewed Vyne Dental’s Chief Growth Officer Vance Taylor. Vyne Dental is an excellent example of a dental technology company that is increasing workflow efficiency in dental practices and groups of all sizes. Learn here about the efficiencies Vyne Dental provides in the billing and collections process.
Vyne’s Mission
“Vyne Dental has a clear mission,” says Taylor. “We seek to reduce unnecessary cost that's inherent in the business of delivering oral healthcare. In our domain specifically, the process of collecting money, there are all sorts of frictions. From the point of patient intake until that production is captured and the revenue is collected, there are many break points, including creation and management of the data, submission of claims to payers, billing statement to patients, and following up for collection.
"Where friction in technology or workflow manifests itself, the burden must be absorbed by human beings. Those human beings are largely the dental billers and/or office managers within the practices. We're building technology for them. We're singularly focused on building technology that eliminates the pain for those individuals who are responsible the outcome of revenue coming in."
“You've seen our tagline, billing without boundaries, that's what that means. We're building platform technologies for dental billers to liberate them from the confines of what would otherwise be their practice management system or other tools to do their job but aren't designed for their job.”
What Users Notice Right Away
Nirgudkar inquires, “Let’s say a dental support organization signs up for your service. After three months of using your platform, what do they start noticing?”
Taylor reports multiple benefits:
- Automation—Immediately they find the number of times they need to call the payer is greatly reduced. “Because we provide an end-to-end system, because they're not calling the practice management system to figure out what's going on and then the payer to try to figure out what's going on. In the middle, there's a clearinghouse that they don't even know exists and that they can't call. We solve that problem. Right off the bat, we drastically reduce the number of calls these individuals must make to figure out why a claim has aged out,” says Taylor.
- Time savings—The platform reduces the amount of time the people in each office and the DSO support center are spending on manual activities. This enables them to spend more time interacting with patients.
- Faster collections—With fewer human touchpoints, collections speed up. The number one reason a claim gets rejected is because you've got the wrong plan on file say Taylor. The software confirms the patient is on the plan you have on file.
“The number of people changing jobs is unprecedented. Dental practices are painfully aware that many patients coming back into the practice have the wrong plan on file. It takes longer to get paid when claims are rejected due to the wrong plan. You are already delayed by couple of weeks. Ultimately getting paid by the right payer is going to take longer. This has a massive impact on cash flow and the patient experience.” - Increased collections—"Technology is enabling the whole industry to grow by leaps and bounds,” says Nirgudkar. “I imagine the amount of money that is not collected or wasted because of improperly handled insurance situations could be tens of billions of dollars.”
- Patient relations—Access to information about claims makes it easier to answer patient inquiries, and faster payment helps you maintain good patient relations. An end to doing so much paperwork at the office allows “our front and back offices to focus adding value to patients,” says Taylor.
Why Vyne Acquired OperaDDS in 2021
“We believe that the revenue cycle of collections begins at patient intake,” said Taylor. “Without that, there's no production. Wi thout that, there's no collections. We wanted to zoom out a little bit and get technology in there that's going to ensure that the patient experience along this journey is also improved. Now we have a communications platform, and we'll be able to check your practice management schedule and verify the insurance coverage of scheduled patients. If they're not covered, the platform texts the patient with an electronic form to update that information, rechecks with the new information, and confirms that they are in fact on that plan. Now, when that patient comes in, that potential risk has been mitigated and you didn't pay a single person to get involved in that workflow.”
“Technology is only as good as how much it elevates us to be better at serving the people that we want to serve, which is our patients.” —Amol Nirgudkar, CEO of Patient Prism
Nirgudkar would like to see a study of revenue growth from improved patient communication. “People don't calculate the economic value of it because they don't know how… I'm excited about this whole industry that is creating innovative solutions to save time and improve the efficacy of collections. I believe there are billions of dollars that are not collected. But improving patient care is of foremost value.”
It comes down to this says Taylor, "Do you want the person that just sat on hold for 45 minutes trying to fix an issue they've been working on for weeks with an insurance payer to be the very first person that greets your shiny new patient when they walk in the door? That's what's happening in thousands of practices across the country. We think we can fix that.”
About Vyne Dental
Vyne Dental® provides easy-to-use software that simplifies the process of claims and attachment management, facilitates secure communications, and speeds up payments to help dental practices thrive.
Patient Prism Delivers Actionable Intelligence
Patient Prism’s artificial intelligence (A.I.) incorporates machine learning to provide deep insights into dental patient phone calls and conversion analytics.
Managers can easily see how many people asked about implants, the percentage booked, and the revenue opportunity won or lost.
- They can see how many people said they had Delta Dental PPO or spoke Spanish.
- They can see how many called in pain with emergency needs.
- They can see how many prospective patients did not book due to the unavailability of near appointments.
- They can determine if team members are uninformed about advertised promotions, don’t know how to respond well to financial questions, or are so pressed for time they fail to demonstrate empathy for callers’ concerns.
It's really quite simple. Patient Prism's dashboards provide unique insight as to what exactly is happening on the phones in any dental practice, including DSO or enterprise dashboards that include all practices' strengths and opportunities in one view.
These insights help managers identify where to expand services, better coach team members, increase staffing during peak hours, consider participation with an insurance provider, and adjust marketing.
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