BOSTON, June 8, 2021 /PRNewswire/ -- Amid growing demand from dental payers for its powerful dental artificial intelligence (AI) software, venture-backed dental AI company Overjet today announced it had acquired American Dental Examiners (ADE). The union brings together Overjet's industry-leading dental AI technology with a storied dental claims review firm that built and defined the claim review category over the last four decades. With today's acquisition, Overjet will be the first company in the dental industry to offer under one roof a fully integrated solution for dental payers that combines AI and a licensed, nationwide network of dental claims reviewers.
The ADE acquisition brings to Overjet the ability to provide nationwide, fully licensed utilization review, a broad network of dentists to support claims review, and a leadership team with decades of dental claims review and benefits consulting experience. Founded in 1980, American Dental Examiners pioneered third-party dental claims review and along the way has served some of the country's largest payers.
"The uptake of Overjet's dental AI by payers has been swift and surpassed our expectations," said Dr. Wardah Inam, PhD, CEO and co-founder of Overjet. "As we built these relationships, multiple customers approached us about offering an even broader set of services powered by AI to support the full lifecycle of claim processing. Our partners are rethinking processes, platforms, and technology to speed review and improve consistency for their provider networks and members."
For payers, the ADE acquisition bolsters Overjet's suite of offerings to now include nationwide, fully licensed dental claims decisioning in addition to Overjet's industry-leading dental AI tools for claim review selection and payment integrity. Dental payers can now rely on Overjet to supplement internal clinical staff in order to boost the volume of claims reviewed, handle seasonal variations, and ensure compliance with state utilization review laws. Overjet already has several payers working to integrate licensed clinical review, supported by AI, into their operations. ADE's existing clients will benefit from Overjet's deep technology capabilities and ability to leverage dental AI seamlessly with existing claims review services.
"Through multiple claims review tests, we found that dentists using Overjet's platform and AI technology could work substantially faster and more accurately than many other systems out there," said Dr. Robert Faiella, DMD, chief dental officer of Overjet. "With this insight, we realized that Full Clinical Review as a Service made sense as an offering and could help lower costs, boost quality, and simplify operations for payers."
"When I first saw Overjet's technology, I knew this was the future of dental claims review," said Dr. Robert Leaf, founder of American Dental Examiners and 40-year veteran of the dental claims review industry. "Bringing ADE and Overjet together just made sense. It's top-notch clinical reviewers using best-in-class artificial intelligence. This will redefine the industry."
Today's acquisition follows a year of rapid growth for Overjet since the company came out of stealth in 2020 with the launch of powerful dental AI software and financing from VCs that included Crosslink Capital and the MIT-affiliated E14 Fund. Built upon multiple cutting-edge computational dentistry and AI techniques pioneered and patented by Overjet over two years of extensive R&D, Overjet's clinical and claim intelligence platforms are already being used by some of the largest dental customers in the nation. In a dental AI first, Overjet announced in May 2021 FDA clearance for its Dental Assist product designed for dentists and hygienists at dental clinics. The firm was also named to CB Insights' 2021 AI 100 list, recognizing AI companies that are redefining categories globally.
Founded by PhDs and leading experts from MIT and the Harvard School of Dental Medicine, Overjet has assembled the largest and most seasoned team of technologists and domain experts with deep AI, dental, and insurance experience. Overjet's leadership team includes Dr. Wardah Inam, PhD, CEO and cofounder; Dr. Robert Faiella, DMD, chief dental officer and former president of the American Dental Association; Deepak Ramaswamy, PhD, CTO and former Amazon executive; Dr. Chris Balaban, DMD, clinical director; and Shaju Puthussery, COO and former chief analytics officer at DentaQuest, the largest Medicaid dental benefits provider.
Overjet is the global leader in dental artificial intelligence, helping both payers and providers improve patient care. The company's technology encodes dentist-level understanding into scalable software products. Follow us at www.overjet.ai and on Twitter @overjetdental.
About American Dental Examiners
Founded in 1980, American Dental Examiners pioneered third-party dental claims review and has served some of the largest payers in the country. The firm holds utilization review licenses nationwide, has a broad network of trained dentist and specialist claims reviewers, and provides benefits design advisement. Find us at www.americandentalexaminers.com.