Union Dental Advances in the Development for Authorization and Adjudication of Dental Claims
Union Dental plans to test this solution once fully developed in its Coral Springs office then with its dental network of providers servicing CWA members before marketing the product and ancillary software to U.S. dentists nationwide.
The solution offers all functionalities available in all of the company's other capture solutions, such as dental exams and procedures. The solution contains security procedures following international standards, an intrusion detection system and uses SSL security to encrypt transactions. Additional security features can be provided at the application level to individual users. The solution can be used by any dental provider that has access to the Internet through a standard web browser.
George D. Green, president and CEO of UDHI, said, "With the building of a nationwide dental network for The Association of Flight Attendants, we will have a network in place in the next 12-24 months to offer different technology for a very small fee and products and services to our dental providers at discount prices. This new web solution will take the four-step process of verification of patient benefits with the insurance company, submission of claims to the insurance company, adjudication of the claim benefits from the insurance company and then payment of the claims from the insurance company to the doctor, all in a single on-line format. Our intent is to make arrangements with financial entities to transfer the insurance payment to the doctor within 24 to 36 hours."
Hear Dr. Green's interview about the claims submission and payments technology at www.audiostocks.com
About Union Dental Holdings, Inc., Direct Dental Services, Inc. and Union Dental Corp.
Direct Dental Services and Union Dental Corp. are wholly owned subsidiaries. Direct Dental Services provides dentists with "areas of exclusivity" to participate with various unions including the Communications Workers of America (CWA) and the International Brotherhood of Electrical Workers (IBEW) and The Association of Flight Attendants - Communications Workers of America (AFA-CWA). Direct Dental Services receives annual management fees from the dentists in exchange for practicing in these "areas of exclusivity" where CWA and IBEW members use the dentists' services. Union Dental manages a dental practice in Coral Springs, Florida. WEBSITE: www.uniondental.com/ir
"Safe-Harbor" Statement: Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
SOURCE: Union Dental Holdings, Inc.
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