In a major step toward transforming dental practices, Archy has secured $15 million in a Series A funding round. Led by Entrée Capital, with participation from Bessemer Venture Partners, CRV, Alven, and the 20VC Growth fund, this investment will accelerate the development of Archy’s AI-powered, cloud-based platform. Designed specifically for dental practices, Archy is reshaping how dental offices operate by automating key processes, improving patient care, and allowing practices to run more efficiently.
Addressing Core Challenges in Dental Care
The dental industry faces a myriad of challenges today, including a severe staffing shortage, reduced capacity, and increasing pressures from outdated systems. Practices across the U.S. report a 10% reduction in capacity, with many dental assistants and hygienists planning to retire in the next five years. Adding to the strain, decreasing dental insurance reimbursements make it harder for practices to offer competitive salaries while 75% of them still rely on legacy on-site servers, further complicating operations and introducing security risks.
Archy’s platform addresses these problems head-on. By eliminating the need for costly on-site servers, it offers an automated, cloud-based solution that streamlines daily tasks such as insurance verification, billing, scheduling, and patient communication. This innovation not only frees up time for dental teams to focus on more intricate tasks but also significantly reduces operational costs. According to the company, a single dental practice can save up to 80 hours a month with Archy’s automation features.
The Power of AI and Automation in Dental Practices
Archy’s solution integrates AI into its platform, bringing automation to areas like x-ray analysis, insurance verification, and patient engagement. Partnering with Pearl AI, the platform offers real-time x-ray analysis, allowing dental professionals to make faster, more accurate diagnoses. The imaging solution stores x-rays in real-time, eliminating the need for external software and reducing the chances of human error.
One of Archy’s key strengths is its comprehensive approach to practice management. From patient scheduling to managing employee payroll, Archy provides an all-in-one platform. Customizable appointment categories, pre-populated with procedure codes, simplify the scheduling process, allowing staff without extensive dental experience to manage the office with ease. Archy also automates online patient forms, cutting out manual data entry and allowing patients to complete forms before their appointments.
Insurance management is another area where Archy excels. With real-time insurance verification and automated claims processing, dental teams save 20 hours a month by reducing the time spent on administrative tasks. Archy’s insurance hub allows for the bulk processing of Explanation of Benefits (EOBs) and centralized management of claims, simplifying an otherwise time-consuming process.
Scaling Dental Practices with Ease
As dental practices look to scale, Archy provides tools that not only streamline day-to-day operations but also enhance patient care and engagement. Its online scheduling system is designed to be patient-friendly, allowing appointments to be booked 24/7. Practices using Archy have reported a boost in bookings, with many seeing 15 to 25 new appointments per month. The platform’s patient portal also enables patients to pay bills online and view their appointment history, reducing call volume and administrative workload.
Archy’s email and text communication tools further enhance patient engagement. Practices can send bulk texts and emails, automate appointment reminders, and follow up with patients after visits. These tools not only improve patient satisfaction but also reduce no-show rates by up to 20%.
A Vision for the Future of Dentistry
The $15M Series A funding will help Archy continue its mission of bringing cutting-edge technology to an industry that has long struggled with outdated systems. “By integrating Archy, dental practices have an immense opportunity to reinvent how they manage the day-to-day workload, saving crucial time and cost which can be driven instead into business improvements, patient care and outcomes. Archy’s automated overhaul of a dental practice’s operations helps develop and retain the workforce, and our aim is to become a linchpin for sustainable growth for the practice itself,” said Jonathan Rat, Co-Founder & CEO of Archy.
Archy’s growth is also a testament to the vision shared by its investors. Avi Eyal, Co-Founder and Managing Partner at Entrée Capital, believes that Archy is poised to disrupt the dental sector. “In a sector so deprived of innovation, Archy blends simplicity and automation and creates seamless integration across the dental practice, with fast implementation. Practices using Archy are already reporting significant improvement in efficiency, and increased customer satisfaction and better patient care delivery. We believe the market is ripe for disruption and that Archy is the company that will emerge as the leader in this sector.”
Kent Bennett, Partner at Bessemer Venture Partners, adds, “Dentists have a reputation for being tech-phobic, but the truth is that legacy platforms never gave them a reason to fall in love. Archy has changed that with an end-to-end product that’s a breeze to onboard. The company has seen impressive adoption this year that puts them in line with the most exciting vertical SaaS launches we’ve seen. We’re thrilled to partner with the company again in this round.”
Built by Dentists, for Dentists
Archy’s success is rooted in its deep understanding of the dental industry. Co-Founder Dr. Christine Liu, a dentist herself, helped design the platform to address the real-world challenges faced by dental practices. From charting and treatment planning to patient communications and financial management, Archy was built with the goal of making every aspect of a dental practice more efficient.
The platform’s AI-driven features are set to expand even further. With this latest round of funding, Archy will be adding advanced analytics and machine learning capabilities to its platform, particularly in the areas of revenue cycle management. This will allow practices to optimize their financial operations and identify new revenue opportunities more effectively.
A New Era for Dental Practice Management
With over a few hundred dental practices already on board across the U.S., Archy is well on its way to becoming a game-changer in the dental industry. Its combination of cloud-based efficiency, AI-driven automation, and real-time patient communication tools makes it a powerful tool for modern dental practices. For practices looking to scale, increase efficiency, and improve patient care, Archy offers a complete solution that is ready for the future.
As Archy continues to innovate, it’s clear that the future of dental practice management is in the cloud—and powered by AI.
Credit: Source link
