KANSAS CITY, MO – January 10, 2020 - iShare Medical, a universal platform for secure nationwide sharing of medical information, announced Wednesday that they have signed a major contract with a leading pharmacy benefit manager (PBM). This partnership exemplifies the interoperability iShare Medical has achieved in the industry and will aid the PBM in its work to support their clients through management of pharmacy benefits.
PBMs work on behalf of their customers - health insurers, employers, unions, and government payers - to manage their pharmacy benefits plans. This includes creating formularies (the list of medications that will be covered under each plan), providing prior authorization for prescriptions, and processing claims. PBMs also work to help improve health outcomes by providing tools for clinical decision support, evidence-based guidelines, and feedback to providers for medication adherence to help better manage prescriptions. Additionally, PBMs help drive down the cost of prescription medications by negotiating rebates and discounts on behalf of their customers.
Kansas City-based iShare Medical’s proprietary software simplifies the sharing, consolidation, and analysis of medical records for patients, providers, and payers in order to create a learning health system to help detect, prevent, and treat disease sooner.
iShare Medical software is used by patients, providers, and payers for secure bi-directional communication among trusted entities whose identities have been verified. “Our extensive privacy, security, and trust framework played a key role in this PBM’s decision to select iShare Medical,” said Linda Van Horn, President/CEO.
iShare Medical’s customers use their software to improve care coordination, obtain prior authorization for services, authorize referrals to another provider or service, and to streamline transitions of care from one care setting to another. In healthcare many of these transactions are currently performed using fax machines. iShare Medical replaces the fax machine with secure encrypted sharing of medical records among identity proofed entities.
“We are proud to win this contract against stiff competition,” said CEO and President Linda Van Horn. “We are looking forward to our partnership with this leading PBM to help improve care coordination, strengthen privacy and security, and significantly reduce cost.”
About iShare Medical
iShare Medical’s proprietary software simplifies the sharing, consolidation, and analysis of medical records for patients, providers, and payers in order to create a learning health system to help detect, prevent, and treat disease sooner. This helps better coordinate care, reduce errors and reduce cost, and helps providers get the pertinent data they need for better insights in medical decision making.
iShare Medical’s expansive nationwide network has more than 2.2 million healthcare providers. iShare Medical is EHNAC Accredited for HIPAA Privacy and Security, is a DirectTrust Accredited Trust Anchor, and is an EHNAC TNAP QHIN Accreditation Candidate. iShare Medical customers include a major PBM, a third-party claims administrator for a Federal Agency, a large health system with 24 hospitals, and a large physical therapy group with 270 locations. iShare Medical is a woman-owned business headquartered in Kansas City, MO.