DrFirst acquires Myndshft Technologies

DrFirst has acquired substantially all assets of Myndshft Technologies, a company specializing in end-to-end real-time medical benefits and automated prior authorization software-as-a-service. 

This strategic acquisition aims to improve the patient experience and expedite access to vital specialty medications, such as infusions and in-office injectables primarily covered by medical benefits. Combined with DrFirst’s platform and scale, the technology also will lighten the administrative load on healthcare providers and their staff, DrFirst said.

Founded in 2018, Myndshft streamlines prior authorization and related services for both medical and pharmacy benefits. This technology uses AI, machine learning and robotic process automation to automate and streamline complex benefits, pricing and PA processes across various payers and therapeutic classes into one seamless, intuitive workflow. The Myndshft platform also supports labs, imaging and other procedures covered under medical benefits, which are often prerequisites for patients prescribed specialty medications.

Managing PAs is a significant burden on medical practices because of time-consuming manual processes and lack of integration with electronic health record systems. These challenges lead to avoidable resubmissions and delays, frustrating healthcare providers and patients alike, the company noted.

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“This acquisition is a significant step forward in the industry, which has largely solved these issues for medications covered by pharmacy benefits but has yet to turn its focus to the complex, expensive and often life-saving drugs covered by a patient’s medical benefit,” said G. Cameron Deemer, CEO of DrFirst. “The category of insurance benefit – pharmacy vs. medical – should not dictate a lower level of transparency or efficiency for prior authorizations. It’s unacceptable that the patients who most urgently need these life-saving therapies typically wait the longest to receive them. This acquisition will allow us to expedite patients’ access to these crucial treatments.”

The Myndshft platform provides eligibility and benefits verification for 95% of insured patients across the United States and instantly verifies prior authorization requirements for more than 600 payers and thousands of health plans. By automatically prescreening PA submissions for errors and omissions and providing a dashboard for monitoring the status of all PA requests, the platform significantly reduces manual effort by more than 70% and cuts claims rework by 90%, the company said. 

“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.”

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