Zentist’s Industry-First Payment Posting Automation Solution to Revolutionize Efficiency in Dental Revenue Cycle Management

Zentist has developed the first-ever Payment Posting Automation solutions in the market based on Open Dental API. Soumya Kumar, the CTO, has integrated the Remit AI software system through the cloud. This software system is aimed at marketing organizations that provide dental services and clinics present in multiple locations. It is designed to ease administrative work, enhance cash flow, and increase the inflow of claim payments by processing vast amounts of insurance claim payments.

As per Precedence Research’s latest findings, the global dental software market size was estimated at US$ 1.80 billion in 2022 and is expected to surpass around US$ 5.04 billion by 2032 with a registered CAGR of 10.90% from 2023 to 2032.

DSO insurance claim volumes are increasing due to dependence on insurance claims, which will account for 75% of dental practices’ income by 2024. Remit AI system helps handle this volume by enabling efficient posting task automation and alleviating manual work by up to 75%.

Cost of labor and administrative requirements constitute major barriers to entry in the DSO market, particularly as the American Dental Association (ADA) reports that 30% of dental practices face labor challenges. Since manual payment posting creates unnecessary burdens to RCM teams and increases the strain on front desk staff, mistakes are commonplace. Zentist’s Remit AI helps reduce these problems through connectivity to Practice Management Systems (PMS), which also enables ensured posting that is done quickly and without errors, allowing RCM teams to engage in more productive activities.

As claim volumes grow 15-20% annually, DSOs using Remit AI also increased posting significantly by ten times compared to manual methods. With faster payment capture, practices can enhance cash inflows and develop more appropriate budgets. Besides, revenue from steep penalty fees due to late reimbursement is avoided thanks to running efficient processes that ensure timely payment.

The DSO market presents considerable opportunities, with a projected CAGR of about 17.6% from the year 2023 to 2030 due to the growth of DSOs and new graduates looking for employment. Remit AI’s Posting Automation enhances scalability for busy DSOs, providing a plug-and-play solution to the existing systems to process increased payment volumes without interruptions allowing the DSOs to concentrate on expansion rather than administrative issues.

The impact of Remit AI’s Posting Automation on DSO operations efficiency and profitability was noted by Ato Kasymov, CEO of Zentist. It improves productivity and cuts costs and cash outlay, which turns out to be a great advantage for DSOs. In addition, DSO staff will not be bogged down by repetitive tasks and, instead, channel their energies to address the exceptions, which will sustain service quality and enhance revenue growth. Payment posting is one aspect of RCM processes that Zentist’s Remit AI helps to automate for increased effectiveness. Such a tool is critical for the well-being of the financial operations of any DSO, enabling upscaling without compromising service delivery.

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