Jeremy Shiner is the Founder and CEO of Myriad Systems, a company built on a simple belief: private practices are worth protecting. Raised in a family deeply rooted in healthcare payments, Jeremy learned early how financial systems can either empower or suffocate independent providers. After more than a decade working in healthcare payments and practice operations, he launched MediPay in 2020 to reimagine how private practices collect patient payments and stay financially healthy.

As the challenges facing independent practices expanded, so did his vision. MediPay evolved into Myriad Systems, unifying healthcare-exclusive payment processing, care-driven AI, and integrated EHR and RCM solutions (Myriad Health and Myriad MedBill) into a mission-driven ecosystem designed solely for independent practices. Jeremy speaks and writes about the role of technology in restoring autonomy to clinicians and preserving private practice as the backbone of patient-centered care and the small business economy.

Company: Myriad Systems

We are thrilled to have you join us today, welcome to ValiantCEO Magazine’s exclusive interview! Let’s start off with a little introduction. Tell our readers a bit about yourself and your company.

Jeremy Shiner: Thank you. It’s such an honor to be here. I grew up around healthcare. My father started a transformative company, now called Rectangle Health. He was one of the pioneers of electronic payments in doctors’ offices, working with some of the major entitles and card brands at that time to develop a healthcare exclusive payment and revenue cycle management program. This answered for one of private healthcare’s biggest issues — patient non-payment at the time of treatment. This remains arguably the largest pain point for most practices today.

We have built upon the solid foundation he established, with a simple mission of preserving private healthcare by driving more revenue, reducing costs and streamlining processes.

We started in integrated credit card payments, quickly establishing a true all-in-one clinical and practice management system. We offer full insurance billing, coding and consulting services to address this mission holistically.

What was the initial spark that motivated you to take on an industry dominated by giants, and how did you identify a viable opportunity to compete?

Jeremy Shiner: The larger the giant, the slower it moves. I have a background in technology/compliance consulting and sales and have spoken with thousands – if not tens of thousands of providers – and operators. It is striking the number of frustrations most share.

They are fighting to simply stay viable and truly motivated by the desire to better serve patients. Many corporate entities are unconcerned with these nuances. Instead of supporting the driving force behind the entire US healthcare ecosystem – healthcare providers – many have an eye only toward courting the firms and hospital systems buying up private practices. Where there was an opportunity to solve for real, tangible issues, many “giants” added to them.

Those that stayed, by and large carry an attitude of superiority to the practice owners, managers, billers and more using their products. Instead of humbly learning from experts in the field, they prefer non-practicing consultants. Instead of being served as customers, all too often I have found practice owners being seen as burdens. Customizations are off the table, product advancements scarce or not well thought out, all while their price points increase at parabolic rates.

We do not fear head-to-head competition with the giants of our industry, but rather relish the opportunity each time we meet them in the field.

Can you describe the most critical strategy or innovation you implemented to differentiate your business from the industry leaders and gain traction?

Jeremy Shiner: We are a company of innumerable innovations, from patent-pending AI technology, to how we prompt and use data, to marriage of service and technology in an increasingly impersonal world. The easiest to pin down for the purposes of this conversation was our novel idea to become the first ever truly free EHR, billing and full AI-powered practice management system, monetizing strictly through the credit card processing service fees, which these clients pay or pass on to patients anyway.

There is a reason this has never been done before, which is that it was extremely difficult. By building a book of exclusively healthcare accounts, we cut down on overhead derived from fraudulent transactions and chargebacks. From there, we invested the time and capital to build systems internally, limiting APIs and ongoing costs.

We then bundled comprehensive software and ancillary services that typically cost upwards of $4,000 to $10,000 monthly within the inelastic costs of a commodity. Not only does this eliminate costs, but it also unifies practice experience and automates our healthcare exclusive and proprietary patient and even insurance payment strategies and programs under one platform. This reduces accounts receivable and billing costs to deliver value in a multitude of ways.

How did you handle the resource disparities such as funding or market access when going up against much larger competitors?

Jeremy Shiner: We were blessed to have a blueprint and vast experience operating on the financial technology side of healthcare. Our early success with MediPay allowed us to largely self-fund, focusing on the client and product rather than fundraising and internal partnerships.

We aren’t worried about impressing investors, stockholders and the industry at large; we are listening to the users and adapting at an unconventional pace.

What was the biggest setback or direct confrontation with an industry giant, and how did you turn it into a turning point for your success?

Jeremy Shiner: The giants do not always have the same sensibilities around client experience and one-off complaints. In this way, onboarding EHR clients who were under pressure financially and logistically was exceedingly difficult. All too often data is withheld and clients are threatened with thousands of termination fees that are not always palatable for a small-to mid-level practice.

We believe in competing fairly and empowering choice. We built around this with policies to assist with data extraction and even coverage of fees. We streamlined onboarding with Myriad Motion to make it quicker and give the user full control of progress and data conversion and migration tools.

We heard repeatedly that we would fail, the costs would be too high and the sales cycle too long. We defied the typical 6–12-month sales cycle by simplifying costs, bolstering guarantees and proving a true white glove onboarding experience- accepting the up-front costs without passing any along to our clients. In doing this, we took a major risk and bet on the fact that once they experienced our systems and services, they’d stay and we would recover this investment. Instead of asking practices to invest in us, we ask how we can invest in each other- and that is true and sustainable partnership.

We were told these changes were not realistic or possible. Our healthcare partners proved otherwise.

What’s one mindset or principle that kept you grounded while taking on industry titans, and how can other founders adopt it to compete?

Jeremy Shiner: One principle we embrace is an attitude of service. The recognition that we serve our clients, not the other way around. Understanding the human side of business not only drives results but also provides deeper fulfillment; it is often what carries you through challenges, especially in the early stages.

To apply it effectively, any individual, founder or not, must understand that this is not merely an idea, but a discipline. It must be practiced daily. Without consistency, the path of service you set out on will be quickly lost and replaced by attitudes and principles that, over time, erode even the strongest intentionality.

Original Source: ValiantCEO