Medication management platform DrFirst this week closed its acquisition of Myndshft Technologies, an AI-enabled benefits and prior authorization verification platform.
DrFirst said the acquisition will enable its customers to check for specialty medication benefits including infusions and in-office injectables, according to a press release. With most of Myndshft’s assets on board, DrFirst will be able expand its services to check for patients' medical benefits, which are often confusing for healthcare providers to navigate, the company told Fierce Healthcare. Specialty medications are often housed within medical benefits.
"Nearly half of all specialty medications are covered by medical benefits, such as infusions, in-office injections, and chemotherapy. Some are covered by both, so it can be very complex for medical staff to navigate. Myndshft is the only fully automated end-to-end platform that covers both medical and pharmacy benefits," a representative of DrFirst said in a statement.
DrFirst’s health information technology platform serves hospitals and health systems, pharmacies, pharmacy benefit managers, private practices, specialty care practices and electronic health record providers with medication information to assist in appropriate prescribing. Its services include an e-prescribing software that learns providers’ typical ordering patterns to reduce time spent on the platform, offers a 12-month look at a patient’s medication history and identifies patients at risk for non-adherence.
"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, in a statement. "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."
Myndshft provides medical and pharmacy prior authorizations through its machine learning software and can provide insight on the benefit options for 94% of insured Americans, according to the company.
The platform provides price transparency and benefit details, including labs and imaging covered under a patient’s medical benefit, which often are prerequisites for specialty medications, the press release says.
“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,” G. Cameron Deemer, CEO of DrFirst, said in the press release.