CLEVELAND, Sept. 11,
2024 /PRNewswire/ -- KeyCorp (NYSE: KEY) announced a
strategic relationship, which includes a minority investment, with
Zentist, a leading cloud-based Insurance Revenue Cycle Management
(RCM) software provider for Dental Support Organizations (DSOs)
across the country. KeyBank will introduce Zentist's Remit AI
software to its extensive network of DSOs, providing them with
access to a transformative tool that enhances their dental
insurance revenue cycle management operations.
Remit AI streamlines dental insurance claims processing with
features that include automated Explanation of Benefits (EOB) and
Electronic Remittance Advice (ERA) delivery, automated remittance
to bank data matching, and intelligent task distribution across
organizational structures. The software also includes specialized
predeterminations workflows, real-time claim status updates, and
fully customizable advanced RCM analytics dashboards.
Using Remit AI's Cavi AR module, DSOs and dental practices
across the United States can
streamline their claims status and follow-up workflow, resulting in
considerable time savings. The module also categorizes and ranks
their open claims based on AR days, expected/submitted amount,
and/or last updated date.
"KeyBank's commitment to delivering comprehensive financial
solutions to DSOs as part of a broader healthcare strategy that
involves helping clients with the whole spectrum of payments
capabilities and with industry-specific financial services and
solutions," said Jon Briggs, Head of KeyBank Commercial
Payments and Innovation. "Our strategy aligns perfectly with
Zentist's mission to simplify and improve the financial operations
of dental groups and practices."
"KeyBank is one of the most innovative banks in the country, and
we're thrilled to have them as both an investor and a new fintech
bank relationship," said Ato
Kasymov, CEO of Zentist. "This relationship will allow us to
reach a wider audience and help dental groups to optimize their
revenue cycles, ultimately leading to better financial health and
patient care."
The latest collaboration with Zentist demonstrates KeyBank's
model of collaborating with companies whose solutions align with
the broader strategy of delivering innovations that make dental
clients' businesses grow, avoid risk and be profitable. It marks
the most recent in a series of relationships with emerging fintech
providers over the past decade.
About Zentist
Zentist is a leading cloud-based
insurance revenue cycle management (RCM) software provider for U.S.
dental groups. The company's flagship product, Remit AI,
facilitates self-service RCM analytics, automatic parsing of
explanation of benefits (EOB), electronic remittance advice (ERA)
data intelligence, and automatic reconciliation of remittance data
against bank transactions from over 725 dental payers. This ensures
faster payment posting into any practice management software.
Zentist empowers RCM teams with technology to efficiently follow up
on outstanding insurance claims, reduce denials, and manage
accounts receivable in less time. Founded in 2015, Zentist is
backed by leading technology venture capital firms. For more
information, visit www.zentist.io
About KeyCorp
KeyCorp's roots trace back nearly
200 years to Albany, New York.
Headquartered in Cleveland, Ohio,
Key is one of the nation's largest bank-based financial services
companies, with assets of approximately $187
billion at June 30, 2024. Key
provides deposit, lending, cash management, and investment services
to individuals and businesses in 15 states under the name KeyBank
National Association through a network of approximately 1,000
branches and approximately 1,300 ATMs. Key also provides a broad
range of sophisticated corporate and investment banking products,
such as merger and acquisition advice, public and private debt and
equity, syndications, and derivatives to middle market companies in
selected industries throughout the United
States under the KeyBanc Capital Markets trade name. For
more information, visit https://www.key.com/. KeyBank is Member
FDIC.
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SOURCE KeyBank