What You Should Know:
– DrFirst has announced a strategic acquisition of Myndshft Technologies, Inc., an end-to-end real-time medical benefits and automated prior authorization (PA) software-as-a-service (SaaS).
– Myndshft software-as-a-service automates and simplifies time-consuming healthcare patient access tasks associated with prior authorization, eligibility and benefits verification, and patient financial responsibility, freeing providers and payers to concentrate more fully on patient care. Myndshft works with leading providers, payers, and health information exchanges.
Focus on Specialty Medications and Improved Efficiency
The acquisition specifically targets the prior authorization (PA) process for specialty medications, like infusions and injectables, typically covered under medical benefits. These medications are often critical for patient well-being, but obtaining them can be hindered by complex and time-consuming procedures.
Myndshft’s Technology: An Automation Powerhouse
Founded in 2018, Myndshft offers a unique, unified platform that streamlines the entire PA process, leveraging:
- AI and Automation: Myndshft utilizes artificial intelligence, machine learning, and robotic process automation (RPA) to automate tasks across various payers and treatment categories.
- Seamless Workflow Integration: The platform integrates with existing systems, eliminating the need for multiple platforms and manual data entry.
- Holistic Approach: Myndshft goes beyond medications, streamlining processes for labs and imaging procedures often required before obtaining specialty medications.
Benefits for Patients, Providers, and the Healthcare System
This acquisition offers a win-win-win for patients, providers, and the healthcare system as a whole:
- Patients: Gain faster access to crucial medications through a more efficient PA process.
- Providers: Experience reduced administrative burden, allowing them to focus on delivering quality care.
- Healthcare System: Improves overall efficiency and reduces unnecessary delays and costs associated with manual PAs.
DrFirst’s Network: A Perfect Match for Widespread Adoption
DrFirst’s extensive network, encompassing over 270 EHR systems, 500,000 healthcare providers, and nearly 100 million patients, provides the ideal platform for widespread adoption of Myndshft’s technology. This integration ensures rapid scalability and accessibility across the US healthcare market.
“We were looking for the right partner with existing provider and patient workflows as well as expertise in integrating across the healthcare landscape to maximize the value of our innovative technology,” said Ron Wince, Myndshft founder and CEO. “We are excited to work within the DrFirst network to ease the administrative burden on healthcare providers and help patients access needed therapies and other services.”
