DEO's Growth Secrets Podcast for Dental Organizations 218: Insurance Verification Solutions Every Dental Entrepreneur Needs to Know
Jan 9, 2025
Vivek Kinra, CEO of Verrific, was inspired to improve dental practices by his wife’s experience as a dentist. He discusses how outdated insurance verification processes waste time and hurt profitability. With practical insights, Vivek shares innovative solutions to streamline these processes. He reveals how Verrific's AI-driven software optimizes verifications, enhances operational efficiency, and boosts collections. The conversation emphasizes the need for better collaboration between insurers and practices to improve patient care and reduce administrative burdens.
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Vivek's Journey
- Vivek Kinra, Verrific's CEO, left his corporate job to help his wife's dental practice.
- He improved insurance contracts, leading to significant revenue growth, which inspired his entrepreneurial journey.
Manual Verification
- Dental insurance verification processes are surprisingly manual, involving many phone calls and data entry.
- There's no standardization in how insurance companies provide data, creating huge inefficiencies.
Lack of Standardization
- Insurance companies lack a standard language and data format.
- Their inefficiency may subtly benefit them, as they haven't prioritized streamlining data sharing through APIs.