Myndshft Launches Myndauth, Insurance Discovery At HIMSS 2021
Myndshft announces its next-generation ePA solution for healthcare providers and payers along with a new insurance discovery offering at HIMSS 2021.
MESA, Ariz., Aug. 4, 2021 /PRNewswire/ -- Myndshft Technologies, a leading provider of real-time medical benefits check and electronic prior authorization technology, will announce the launch of Myndauth and the release of insurance discovery as a part of its Myndview real-time benefits solutions at HIMSS 2021 in Las Vegas, Nevada. The conference, scheduled for August 9 - 13th, highlights companies that are utilizing technology to improve patient care in a wide variety of ways.
Myndauth, an intelligent, automated electronic prior authorization evaluation solution, automates the review of patient Electronic Health Records to instantly adjudicate a provider prior authorization request and provides the result in real-time to both the provider and the payer. The technology, backed by Natural Language Processing (NLP) and advanced Machine Learning (ML), improves patient outcomes by providing real-time decisions on authorizations that historically take up to 2 weeks.
Currently, providers are required to fill out insurer-specific prior authorization forms and then await a decision on the request before providing care. The absence of an immediate feedback loop regarding compliance with clinical criteria creates significant challenges for a provider when building a treatment plan. Similarly, payers often need to perform an extensive clinical review to determine approval for a request. Often there are multiple back-and-forth exchanges of information between the provider and payer, leading to long delays in access to appropriate care. With Myndshft's automated electronic prior authorization tool, providers and payers have real-time insight about patient-specific prior authorization requirements and compliance with clinical guidelines - significantly reducing the back and forth.
Myndauth leverages NLP and ML to digitize an insurer's clinical guidelines into a rules engine. The system then extracts clinical data directly from a provider EHR, allowing the real-time evaluation of the provider requests against the insurer's actual requirements. With Myndauth, payers have a solution that serves as the "information highway", validating prior authorization requests against payer-specific clinical guidelines. Payers can then opt for Myndauth to make approval or denial responses or respond to the validated prior authorization request. Meanwhile, providers have real-time insight into their authorization status and clarity on how their patient matches against clinical authorization criteria.
The solution integrates seamlessly with a provider's EHR system leveraging the HL7 FHIR R4 standard or via a simple web portal and has developed a dashboard for payers to review and act on prior authorization requests.
"Payers will have real-time insights about prior authorization requests coming in and can swiftly act on the recommendation presented by MyndAuth," said Ron Wince, CEO of Myndshft. "For providers, Myndauth provides clarity about prior authorization requirements - allowing them to make the best care decisions at the point of care. Myndauth moves the entire decision and compliance process from retrospective to prospective." he added.
Myndshft is also launching an improved insurance discovery product as a part of their Myndview platform at the conference. This technology enables providers to find active insurance coverage for patients that provided invalid insurance information or no insurance information. Myndshft's new insurance discovery product will find active coverage for 30+% of the invalid or self-pay patient population. Providers will be able to service more patients than before, and with the rest of Myndshft's product suite, they will have clarity into patient costs, authorization requirements, and streamlined authorization requests in one platform. Payers also benefit from Myndshft's suite of eligibility and authorization requirements products as they eliminate unnecessary authorization submissions and ensure the authorization requests are provided to the correct primary payer for the patient.
Myndshft enables real-time, automated eligibility, coordination of benefits, insurance discovery, patient cost analysis, authorization requirements, and authorization submissions at the point of care all within a single, integrative system. Myndshft is announcing all their new products on August 11th, 1:30 pm at the Value of Healthcare Pavilion, Booth C1400 Theater. Stop by the presentation or see Myndshft in booth C1431 to learn more about how they are improving access to care for patients.
About Myndshft
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.
SOURCE Myndshft
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