April 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 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.”
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:
“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.”
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’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.
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.