Mississippi Dental Association Expands Partnership With Cloud Software Leader iCoreConnect

Rhea-AI Summary

iCoreConnect Inc. (NASDAQ: ICCT) has expanded its partnership with the Mississippi Dental Association (MDA), which now endorses seven of iCoreConnect's products. The MDA initially endorsed iCoreConnect's iCoreRx electronic prescribing software in 2020 and has now added six more products to enhance members' revenue cycle management. These additional products include:

• iCoreVerify for automated insurance verification
• iCoreCodeGenius for ICD-10 coding
• iCoreClaims for dental claims and billing
• iCoreIT for managed IT services
• iCorePay for statements, payments, and billing solutions
• iCoreAcademy for patient education video library

This expanded partnership aims to streamline revenue cycle management, infrastructure, and patient experience for dental practices. iCoreConnect now reaches approximately 155,000 dental professionals nationwide.

Positive

• Expanded partnership with Mississippi Dental Association, now endorsing seven iCoreConnect products
• Increased reach to approximately 155,000 dental professionals nationwide
• Diversification of product offerings in revenue cycle management, IT services, and patient education

Negative

• None.

Insights

Financial Analyst

The expanded partnership between iCoreConnect and the Mississippi Dental Association represents a significant business development for iCoreConnect (NASDAQ: ICCT). The endorsement of six additional products by the MDA could lead to increased market penetration and revenue growth for iCoreConnect in the dental sector. With access to approximately 155,000 dental professionals nationwide, this partnership strengthens iCoreConnect's distribution channel and lead generation capabilities. However, the actual financial impact will depend on the adoption rate among MDA members and the pricing structure of these newly endorsed products. Investors should monitor future earnings reports to gauge the tangible benefits of this expanded partnership on iCoreConnect's bottom line.

Healthcare Technology Expert

The expansion of iCoreConnect's partnership with the MDA signifies a growing trend in the digitization of dental practices. The endorsed products cover important aspects of dental practice management, from insurance verification to patient education. This comprehensive suite addresses key pain points in revenue cycle management and patient experience, potentially leading to improved efficiency and profitability for dental practices. The inclusion of managed IT services (iCoreIT) is particularly noteworthy, as it indicates a shift towards full-service technology solutions in healthcare. This move aligns with the broader industry trend of integrated healthcare IT ecosystems, which could position iCoreConnect favorably in the competitive landscape of dental software providers.

Market Research Analyst

This partnership expansion demonstrates iCoreConnect's successful market penetration strategy in the dental sector. By securing endorsements from state dental associations, the company gains credibility and easier access to a large customer base. The gradual expansion from one endorsed product to seven over four years suggests a methodical, trust-building approach that could be replicated with other state associations. This model could lead to accelerated growth and reduced customer acquisition costs for iCoreConnect. However, investors should consider the potential challenges of scaling support and implementation services as the company's product portfolio and customer base expand rapidly. The success of this strategy will likely depend on iCoreConnect's ability to maintain product quality and customer satisfaction across its growing range of offerings.

OCOEE, FL, Sept. 09, 2024 (GLOBE NEWSWIRE) -- iCoreConnect Inc. (NASDAQ: ICCT), a leading provider of cloud-based software and technology solutions, has announced an expanded partnership with the Mississippi Dental Association (MDA). The MDA now endorses seven of iCoreConnect’s products, broadening its initial endorsement of the company’s cloud-based electronic prescribing software.

In 2020, the MDA began endorsing iCoreConnect’s iCoreRx software, including its Electronic Prescribing for Controlled Substances (EPCS) feature. Following its successful integration across the MDA’s membership, the association has added six more of iCoreConnect’s products to help enhance members’ revenue cycle management.

Along with iCoreRx , the MDA now endorses:

•       iCoreVerify - Automated insurance verification
•       iCoreCodeGenius - Fast ICD-10 coding 
•       iCoreClaims - Dental claims and billing
•       iCoreIT- Managed IT services
•       iCorePay - Statements, payments, and billing solutions  
•       iCoreAcademy - Patient education video library

Robert McDermott, CEO of iCoreConnect, expressed excitement about the partnership saying, "The Mississippi Dental Association has been a fantastic partner for the past four years. We’re excited to offer these key products to their members, furthering our mission to create a platform that streamlines revenue cycle management, infrastructure, and patient experience for dental practices."

The MDA takes pride in its comprehensive endorsement program, thoroughly vetting its partners. Wahnee Sherman, Executive Director of the MDA, commented, “We’ve observed iCoreConnect’s dedication and growth over the years. These endorsed products will significantly benefit our members, improving both revenue generation and patient satisfaction.”

iCoreConnect is actively engaged in continuing education, networking, and practice management support for dental professionals, aligning well with the needs of state dental associations. With the growth of its endorsements, iCoreConnect now reaches around 155,000 dental professionals nationwide, offering a strong lead generation platform and distribution channel for its current and future products.

For more information and to schedule a demo, visit iCoreConnect.com.

About iCoreConnect Inc.

iCoreConnect Inc. provides cloud-based software solutions aimed at enhancing the efficiency and profitability of dental practices. The company is committed to empowering dental professionals through innovative tools that improve both patient care and business performance.

About the Mississippi Dental Association

The Mississippi Dental Association (MDA) represents over 60% of Mississippi’s licensed dentists. As a tripartite organization, MDA members are also part of the American Dental Association and their local dental districts. The MDA’s mission is to advance public oral health and support members through education, training, and service.

Forward-Looking Statements

Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including ‘believes,’ ‘estimates,’ ‘anticipates,’ ‘expects,’ ‘plans,’ ‘projects,’ ‘intends,’ ‘potential,’ ‘may,’ ‘could,’ ‘might,’ ‘will,’ ‘should,’ ‘approximately’ or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed under Item 1A. “Risk Factors” in the Company’s most recently filed Form 10-K filed with the Securities and Exchange Commission (“SEC”) and updated from time to time in its Form 10-Q filings and in its other public filings with the SEC. Any forward-looking statements contained in this release speak only as of its date. The Company undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.

Investor Contacts:
IR@icoreconnect.com
888.810.7706, ext 5

FAQ

What new products did the Mississippi Dental Association endorse from iCoreConnect (ICCT) in September 2024?

The Mississippi Dental Association endorsed six new products from iCoreConnect: iCoreVerify, iCoreCodeGenius, iCoreClaims, iCoreIT, iCorePay, and iCoreAcademy, in addition to the previously endorsed iCoreRx.

How many dental professionals does iCoreConnect (ICCT) now reach with its endorsed products?

iCoreConnect now reaches approximately 155,000 dental professionals nationwide with its endorsed products.

When did the Mississippi Dental Association first endorse an iCoreConnect (ICCT) product?

The Mississippi Dental Association first endorsed iCoreConnect's iCoreRx electronic prescribing software in 2020.

What is the main focus of iCoreConnect's (ICCT) expanded product offerings for dental practices?

The expanded product offerings focus on enhancing revenue cycle management, infrastructure, and patient experience for dental practices.