MESA, Ariz. and DALLAS, Feb. 24, 2020 /PRNewswire/ -- Myndshft Technologies, a leading provider of real-time benefit check and prior authorization technology for diagnostic and genomics labs today announced a partnership with laboratory information management system (LIMS) provider, TrueMed IT. The partnership will enable TrueMed IT's laboratory customers to improve patient and physician satisfaction, boost staff efficiency and reduce the risk of payment denials.
Diagnostic and genomics labs are grappling with increasing government regulations, escalating prior authorization requests, and a surge in high deductible health plans, all of which are combining to erode margins and trigger a rise in write-offs and bad debt. The partnership will enable TrueMed IT to integrate Myndshft's technology into its platform, providing its molecular pathology, cancer genomics, pharmacogenomics, toxicology and hematology lab customers with the ability to collect more revenue at the point of service directly within their current workflows.
"Our partnership with Myndshft allows us to offer our customers the ability to prevent surprise billing for patients, provide detailed price transparency, and increase revenue when services are rendered, rather than chase down payment after the fact," said Bryan Shnider, CEO of TrueMed IT. "Best of all, they can do it as part of a single, unified workflow."
"The Myndshft-TrueMed IT partnership solves a problem plaguing labs today," said Ron Wince, CEO of Myndshft. "Up until now, lab staff have had to jump in and out of different portals to perform benefit checks. This partnership will allow them to instantaneously verify eligibility and benefits, determine patient financial responsibility and identify whether prior authorization is required, all from within TrueMed IT's interface."
Myndshft's software-as-a-service automates and simplifies time-consuming healthcare administrative 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 was founded in 2018, and works with leading providers, payers, and health information exchanges. For more information, visit myndshft.com.
About TrueMed IT
TrueMed IT's software-as-a-service platform combines unmatched features, functionality, customized reporting, smart solutions, and the business tools necessary to facilitate laboratory optimization. TrueMed IT was founded in 2015 and works with laboratories and physician offices to enhance patient and provider satisfaction. For more information, visit truemedit.com.
SOURCE Myndshft Technologies