INDIANAPOLIS, Jan. 9, 2013 (GLOBE NEWSWIRE) — Renaissance Electronic Services (RES), part of the Renaissance Health Service Corporation (RHSC) family of companies, announces that Maverest Dental Network, LLC is now a subsidiary of the company. Maverest is a national PPO network with more than 38,000 participating dentists nationwide and is the second company to join the RES family. Just last month, RES announced the addition of Tesia Clearinghouse, LLC as its first subsidiary. Maverest will continue to operate under its current name.
RES was created as a holding company to acquire and integrate leading companies within each area of the electronic claims industry in order to provide a complete and seamless solution to its customers.
Maverest is used by many leading dental benefit administrators to provide lower cost access to care for employers and their employees. It also helps increase access to new patients for dental offices. The company has been in business since 1996 and provides more than $100 million worth of services to its customers annually.
The company is unique in comparison to other preferred provider networks in the industry. Typically, PPO networks are based on multiple fee schedules which can be confusing to both the customer and the dental office.
The Maverest model is different in that participating providers can accept both a flat 25 percent off and a traditional fee schedule. This allows the company to offer a guaranteed minimum discount level to its members which typically is no less than 25 percent in savings with either plan. In addition, with Tesia Clearinghouse as a sister company, both organizations can work with one another to create real-time claims processing that is more efficient and cost effective. This means the provider can get paid faster and the patient knows exactly what their costs are upon leaving the dentist office.
“As subsidiaries of RES, Maverest and Tesia Clearinghouse can now create the most efficient PPO network in the market today,” said Robert McKelvey, president of Maverest Dental. “This will reduce administration costs for all parties involved, as well as create a strong backbone for the consumer-based products of the future.”
Laura Czelada, CEO of RES’s parent company Renaissance Health Service Corporation, agrees.
“By working together, our RES companies provide great access to dental care and reduce costs for dentists, benefit administrators and consumers through technological efficiency,” said Czelada. “The end results are better products, better service and better oral health.”
Renaissance Health Service Corporation (RHSC) is the parent organization for a family of companies including Renaissance Electronic Services (RES) that are leaders in the dental insurance industry. RHSC companies are among the largest and oldest group of dental benefit providers in the United States, covering 10.4 million people and paying out $2.5 billion in dental benefits in 2011.
Currently, the companies employ nearly 1,200 people, who are located in Indianapolis, Indiana; Sherwood and Little Rock, Arkansas; Louisville, Kentucky; Okemos and Farmington Hills, Michigan; Albuquerque, New Mexico; Raleigh and Charlotte, North Carolina; Columbus and Cleveland, Ohio; and Nashville, Knoxville, and Memphis, Tennessee.