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Truemed and Lynx Partner to Transform Healthcare E-Commerce

In a groundbreaking move set to revolutionize the healthcare e-commerce landscape, Truemed, a leading platform specializing in enabling health purchases via Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs), has announced a strategic partnership with Lynx, a fintech innovator focused on healthcare payments and benefits administration. This collaboration aims to empower third-party administrators (TPAs) and benefits administrators to create enhanced e-commerce solutions that benefit members and elevate the purchasing experience for HSA and FSA-eligible products.

A Vision for Transformation

According to Justin Mares, CEO of Truemed, the alliance between Truemed and Lynx is driven by a shared vision to reshape how individuals pay for and access healthcare products. "Together, we empower TPAs to elevate the member experience while unlocking substantial new revenue streams that scale their businesses and, most importantly, drive better health outcomes for their account holders," he stated. This partnership seeks to not only enhance e-commerce efficiency but also to make accessing healthcare products more consumer-friendly.

Innovative E-Commerce Solutions

Within this partnership, TPAs and health plans now have the ability to deliver member-focused e-commerce solutions tailored for HSA and FSA-eligible items. These solutions will include integrated dual-purpose items that necessitate Letters of Medical Necessity (LMNs) and expansion into diverse benefit categories. By synergizing Truemed's clinical compliance and infrastructure for dual-purpose items with Lynx's robust e-commerce platform, this alignment aims to unlock high-margin, recurring revenue streams for administrators.

The collaboration promises advanced e-commerce capabilities supporting an extensive range of medical products—from over-the-counter items to prescription deliveries. Lynx's infrastructure is designed to manage aspects such as taxes, compliance, pricing, and fulfillment across all fifty states, offering various deployment options. This includes:

• - API-based Integration: Allows embedding commerce directly into existing ecosystems.
• - White-Labeled Storefronts: Fully managed storefronts powered by Lynx.
• - Code Licensing: Provides advanced compliance, tax processing, and order management.

A Focus on Consumer Experience

Both companies emphasize the necessity of a modern consumer experience in healthcare. Matt Renfro, CEO of Lynx, remarked, "E-commerce infrastructure is vital for modernizing benefits. The current e-commerce experience in healthcare payments is underutilized within embedded systems, and our future lies in this transformation." This transformation involves creating a seamless, cohesive experience for consumers that combines account management, eligible product purchasing, and LMNs in a user-friendly interface.

The partnership enables TPAs and benefits administrators to internalize e-commerce solutions, broadening their services to encompass Lifestyle Spending Accounts and delivering a high standard of customer experiences akin to those expected from popular retail brands.

About Truemed

Truemed empowers individuals to proactively manage their health by allowing them to utilize HSA and FSA dollars for products and services that tackle root causes of their medical concerns. The platform enhances clinical eligibility assessments and compliance through advanced telehealth technologies, facilitating member investment in preventative care with pre-tax dollars while helping TPAs efficiently manage compliance and generate additional revenue.

About Lynx

Lynx stands at the forefront of fintech innovation, providing an API-first platform that transforms healthcare payments and benefits administration. Their tools enable health plans and financial institutions to incorporate a comprehensive suite of healthcare financial accounts into existing user experiences, coupled with modern e-commerce capabilities such as tax handling, compliance, and order fulfillment. The company is dedicated to innovation, providing scalable solutions that seek to redefine healthcare payments and commerce delivery.

In summary, the partnership between Truemed and Lynx marks a significant advancement in the healthcare e-commerce industry, aiming not only to streamline the purchase of healthcare products but also to enhance the overall member experience.