Dental practices take building good relationships with their clients seriously, and RevenueWell is a software solution that enables them to do so effectively.
“How dentists build relationships with patients has changed – for example, practices can now text patients,” said Alex Nozdrin, founder of RevenueWell . “But the need to build relationships hasn’t changed, and it won’t. That’s a constant we’ve seen from generation to generation and will continue to see.”
RevenueWell is the first choice in patient engagement platforms for nearly 4,000 dental practices and is only growing from there. The software helps their dental clients with attracting new patients through online reviews, SEO, and convenient two-way texting. It also helps with building relationships through personal touches like sending birthday greetings, offering educational newsletters, and following up on missed appointments. The solution also streamlines operations with automatic appointment reminders, instantaneous insurance co-payment, and a secure patient portal.
“When dentists are more connected with their patients, patients are often healthier, happier, and more engaged in their health,” Nozdrin added. “But there’s a secondary benefit, as well, closer relationships make practices more successful. We’ve always believed that, and the data backs it up.”
Software review site SoftwarePundit calls RevenueWell one of the most powerful communication platforms on the market. It stands apart from the competition with its capability for automated messaging services for patients who require unscheduled procedures based on their treatment plans. It’s tapped into the growing demand for vertical-specific SaaS services like dentistry and offers its clients the freedom of flexible contracts.
Founded in 2010 by Max Longin, Serge Longin, Alex Nozdrin, the Chicago-based business wants to make a difference for their clients. A study conducted by RevenueWell in 2019 showed that in the first year of using their tools, dental practices increased the number of appointments by 900, on average. Their clients also saw an increase of 6 percent in revenue, or about $73,630, during the same year.
They recently received a growth equity investment from Marlin Equity Partners, although the financial details were not disclosed. RevenueWell will use the capital to grow the company’s current portfolio of products and accelerate expansion into new markets. The founders all reported being pleased to find a like-minded partner in Marlin.
Marlin Equity Partners is an international investment firm with more than $6.7 billion in assets under management. With 150 acquisitions made since their inception, they invest in businesses spanning several industries, including software, technology, healthcare, services, and industrial technology. Some of their notable exits include Fidelis Cybersecurity, Skuid, and Tidemark.