Myndshft Celebrates Millionth Patient Milestone
Milestone provides clear evidence the company is achieving its vision of becoming the essential platform that powers and enables value-based healthcare.
MESA, Ariz., July 26, 2022 — Myndshft, the fully automated end-to-end prior authorization platform, today announced that it has reached one million patients served. Myndshft technology addresses the needs of both providers and payers by automating the complex, time-consuming administrative processes that undermine patient care.
“We started this company with a singular mission: to free people up to focus on patients. This milestone is a credit to the incredible effort of our Myndshft team and network of partners,” says Ron Wince, founder and CEO of Myndshft. “It is testament to the fact that our prior authorization platform is enabling better patient access and care by reducing manual processes and introducing huge operational efficiencies into the healthcare ecosystem.”
Why Prior Authorization is a Priority
Realizing the goals of value-based care requires healthcare providers and payers drive down costs while achieving optimal patient care. As one of the most costly and time-consuming transactions in healthcare administration, prior authorization is one major obstacle standing in the way.
In 2021, U.S. healthcare providers submitted over 142 million medical prior authorizations, and the number of services and medications requiring prior authorization only continues to increase. Administrative inefficiencies in the prior authorization workflow lead to unnecessary delays in care, with a negative potential impact on patient outcomes and experiences. As revealed in the 2021 AMA prior authorization (PA) physician survey:
- 93 percent of HCPs report care delays due to prior authorization
- 82 percent report that PA can at least sometimes lead to treatment abandonment
- 34 percent report that PA has led to a serious adverse event for a patient in their care
Myndshft began with the goal of fixing the administrative barriers in healthcare to free people up so they can focus on the work that matters. The company’s vision is to become the essential platform that powers and enables value-based healthcare—a future where healthcare is both transformed and transformative. According to its North Star metric, which tracks how many patients pass through the company’s technology, Myndshft is rapidly realizing this vision, having grown an impressive 30 percent in the last year alone.
How Myndshft Powers Prior Authorization Insights
Currently, Myndshft is the only fully automated end-to-end prior authorization platform designed to address the needs of providers and payers. Combining hands-free automation with Collective Healthcare Intelligence™, a single source of truth for patients’ health and benefits information, providers’ clinical documentation, and payers’ plans and policies, Myndshft:
- Delivers instant, real-time benefits eligibility, verification, and coordination for 93 percent of US covered patients
- Verifies prior authorization requirements for 600+ payers and thousands of health plans
- Pre-screens preauthorization submissions for errors and medical necessity
- Submits prior authorization requests through a payer’s preferred submission method
- Provides a dashboard for monitoring all prior authorization requests in one place
With Myndshft integrated into an EMR or other system of record, healthcare providers can fully automate the entire prior authorization process, reducing prior authorization cycle times by up to 90 percent.
Myndshft began with a mission to enable value-based care by empowering healthcare providers and payers to drive down costs and increase revenue while achieving optimal patient care. Today, Myndshft is the only fully automated end-to-end prior authorization platform with real-time benefits and prior authorization insights directly in any system of record. This is achieved by combining hands-free automation with Collective Healthcare Intelligence™, a single source of truth for patients’ health and benefits information, providers’ clinical documentation, and payers’ plans and policies.
Myndshft reduces manual work, eliminates duplication of effort, and shortens preauthorization cycle times so providers and payers can focus on patients, not paperwork.
For more information, visit www.myndshft.com.