iCoreConnect's Software Solutions Further Expand Endorsements and Increase Monthly Recurring Revenue
iCoreConnect, Inc. (OTCQB: ICCT) announces the expansion of its partnership with the Virginia Dental Association Services, adding the iCoreVerify insurance verification software to its endorsed products.
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Rhea-AI Summary
iCoreConnect, Inc. (OTCQB: ICCT) announces the expansion of its partnership with the Virginia Dental Association Services, adding the iCoreVerify insurance verification software to its endorsed products. This follows prior endorsements of iCoreExchange and iCoreRx, enhancing iCoreConnect's revenue growth. iCoreVerify allows dental practices to verify insurance coverage in advance, reducing claim denials and operational costs. With access to over 2,100 insurance carriers, this SaaS solution optimizes revenue potential for dental practices, reflecting the company's commitment to improving healthcare workflows.
Positive
- Expansion of partnership with Virginia Dental Association Services adds iCoreVerify to product offerings.
- iCoreVerify improves revenue potential by reducing claim denials for dental practices.
- Access to over 2,100 insurance carriers enhances operational efficiency.
Negative
- None.
Details
News Market Reaction – ICCT
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Virginia Dental Association Services adds iCoreConnect’s automated real-time insurance verification software to its endorsed platform
OCOEE, FL, Feb. 10, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- iCoreConnect, Inc. (OTCQB: ICCT), a cloud-based, Software-as-a-Service (SaaS) platform for healthcare business workflow, today announces VDA Services expands its iCoreConnect endorsement platform with the addition of iCoreVerify automated real-time insurance benefit verification software. The VDA Services relationship began in 2015 with the endorsement of iCoreExchange, followed by iCoreRx in 2020. VDA Services is a for-profit subsidiary of the Virginia Dental Association.
“The steady expansion of product endorsements by multiple state association partners is helping fuel the tremendous organic growth at iCoreConnect, resulting in increased Monthly Recurring Revenue,” explains iCoreConnect President and CEO Robert McDermott. “VDA Services is an important part of that growth. Their members experience direct benefit from our SaaS products developed specifically with dentists in mind.”
iCoreVerify obtains insurance verifications up to a week in advance of patient appointments. iCoreVerify automates the process for every patient on the schedule each day, allowing staff to correct errors in advance of the appointment and significantly reduce claim denials - a major pain point for dental patients and practices. Traditional ways of approaching the problem usually involve paying a staff member to spend 20+ hours a week on the phone with insurance companies or paying high rates to outsource the work. “Not only can the old model be costly, it can be extremely difficult to find appropriate employees in the current labor environment,” added McDermott. “Our SaaS solution to this old problem is allowing employees to focus on other tasks while optimizing potential revenue for owners.”
iCoreVerify accesses more than 2,100 insurance carriers. Instead of making “best guesses” under a legacy method, iCoreVerify allows dental staff to clearly communicate changes, coverage and cost to the patient at the time of the appointment.
About iCoreConnect
iCoreConnect is a cloud-based software and technology company focused on increasing profit and operational speed in high-compliance industries. iCoreConnect is most notably known for its innovation in solving healthcare business problems. The company’s philosophy places a high value on customer feedback, allowing iCoreConnect to respond to the market’s needs. iCoreConnect touts a platform of 15 SaaS enterprise solutions and more than 70 agreements with state or regional healthcare associations across the U.S. iCoreConnect is a member of the prestigious StartUp Health accelerator.
About VDA Services
The Virginia Dental Association is a professional membership organization and has 4,000 members across the Commonwealth. The VDA’s mission is to represent and serve member dentists by fostering quality oral health care and education. VDA Services is a for-profit subsidiary of the Virginia Dental Association.
Forward Looking Statements
In this news release, the use of the words "believe," "could," "expect," "may," "positioned," "project," "projected," "should," "will," "would" or similar expressions are intended to identify forward-looking statements that represent the Company's current judgment about possible future events. The Company believes these judgments are reasonable, but these statements are not guarantees of any events or financial results, and actual results may differ materially due to a variety of important factors.
Contact:
IR@iCoreConnect.com
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