Delta Dental of Virginia has created two private, for-profit companies based in the Roanoke Valley, according to an article in the Roanoke Times.
The first company specializes in real-time insurance claim processing, while the other assists large companies with administering and evaluating dental benefits.
Both were launched by parent holding company Corvesta, a tax-exempt business created by Delta Dental of Virginia four years ago, the article explained. The first, Mercury Data Exchange (MDE), was a software development company until it was acquired by Corvesta. Now MDE markets software that overhauls claims processes by making them paperless and more efficient, the article noted. Delta Dental claims that 500 dental insurance companies across 31 U.S. states are now working with MDE.
The other start-up, Corvesta Services, seeks to capitalize on Delta Dental's dental insurance claims processes. Claims are analyzed, and information can be sent to specific population sets with particular dental needs, such as patients with diabetes, the article explained. Additionally, the company is offering real-time MDE claims processing, customer service, and fraud prevention.
Corvesta also obtained access to insurance licenses in 34 states and Washington, DC., when Delta Dental purchased a former life insurance company, and may use it to subsequently sell dental or vision insurance in new markets.
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