Science & Technology
Science and Technology
Science and Technology
Thu, January 29, 2009 MedAssets Wins Agreement with Piedmont Healthcare for Supply Chain Management Services
ATLANTA--([ BUSINESS WIRE ])--MedAssets, Inc. (NASDAQ: MDAS) announced today that it signed an agreement with Piedmont Healthcare, located in Atlanta, GA, to implement its supply chain management services. The multi-year contract will enable Piedmont to utilize MedAssets' Group Purchasing Organization (GPO) and customized supply chain management technology and services to achieve greater supply cost savings and purchasing efficiency.
Piedmont is expected to strengthen its purchasing power with access to MedAssets' [ GPO ] and its comprehensive contract portfolio of quality, cost-effective products from the nation's leading medical supply manufacturers and distributors. In addition, MedAssets will leverage its clinical outcome-based [ consultative approach ] to address the high cost and utilization of medical devices and clinical supplies in order to deliver quantifiable cost savings for Piedmont. The Company will also utilize its innovative [ analytics tool set ] to accurately gather, interpret and report clinical, financial and cost data, and present Piedmont with a clear direction for change management.
Additionally, MedAssets will implement its technology, analytics and business intelligence solutions to [ optimize supply chain performance ] and provide greater data transparency to help identify opportunities to better manage supply spend and capture cost savings in medical/surgical supply and [ pharmaceutical spend ].
Piedmont Healthcare is comprised of four hospitals located in the metro Atlanta area: Piedmont Hospital, Piedmont Fayette Hospital, Piedmont Mountainside Hospital, and Piedmont Newnan Hospital, as well as the Piedmont Physicians Group (primary care physicians group with more than 90 physicians in 30 offices) and the Piedmont Heart Institute (with more than 60 cardiovascular specialists in over 30 offices). Piedmont Hospital was recently named Best in Atlanta for Overall Cardiac Care and Cardiac Surgery (2008 and 2009) by HealthGrades®, ranking its cardiac surgical care among the top 10 percent nationally. Three Piedmont hospitals were recognized as Most Wired in 2008. Piedmont Healthcare has annual net revenue of $1.2 billion, employs approximately 8,000 individuals, and cares for more than 600,000 patients annually.
"Piedmont continually strives to improve our financial results in order to maintain the highest level of quality for the communities we serve," stated Ed Lovern, executive vice president and chief administrative officer for Piedmont Healthcare. "In addition to the benefits of its unique GPO model, we were motivated by MedAssets' insightful approach to supply cost management, including performance-focused supply chain management technology and its consultative approach to coach us through cost reduction and sustainment initiatives."
Rand Ballard, chief operating officer and chief customer officer for MedAssets, Inc., stated, "We are proud to be chosen by Piedmont Healthcare to offer supply chain management and supply cost reduction services, in addition to the revenue cycle management technology we already provide. MedAssets' objective to change the way hospitals do business continues to grow in importance in today's economic climate. In working with Piedmont, we're putting these practices in place, leading the way for financial and operational improvement at one of our local healthcare organizations and creating the opportunity for measurable savings."
Piedmont Healthcare has been a MedAssets customer for the last five years, utilizing [ revenue cycle management solutions ] to enhance the system's [ contract management ], [ chargemaster processes ] and [ charge and revenue capture ] capabilities.
MedAssets' mission is to improve the financial health of healthcare providers so they can continue to provide the highest quality of care in their communities.
About MedAssets
MedAssets (NASDAQ: MDAS) partners with healthcare providers to improve their financial strength by implementing integrated spend management and revenue cycle solutions that help control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency. MedAssets serves more than 125 health systems, 3,300 hospitals and 30,000 non-acute care healthcare providers. For more information, visit [ www.medassets.com ].
About Piedmont Healthcare
Piedmont Healthcare (PHC), a not-for-profit organization, is the parent company of Piedmont Hospital, a 481-bed acute tertiary care facility in the north Atlanta community of Buckhead. Piedmont Hospital offers all major medical, surgical and diagnostic services, and was named Best in Atlanta for Overall Cardiac Care and Cardiac Surgery (2008 and 2009) by HealthGrades (a leading healthcare ratings company) and one of the nation's Most Wired hospitals for five consecutive years in the100 Most Wired Survey and Benchmarking Study. PHC also includes Piedmont Fayette Hospital, a 143-bed, acute-care community hospital in Fayetteville; Piedmont Mountainside Hospital, a 42-bed community hospital in Jasper; Piedmont Newnan Hospital, a 143-bed, acute-care community hospital in Newnan; the Piedmont Heart Institute (PHI), which combines more than 60 renowned cardiologists in the Piedmont Heart Institute Physicians with more than 30 offices across north Georgia, and the 162-bedFuqua Heart Center of Atlanta; Piedmont Philanthropy, the philanthropic entity for private fundraising initiatives; the Piedmont Physicians Group, with 90 primary care physicians in 30 offices throughout metro Atlanta; and the Piedmont Clinic, a 563-member physician network. For more information, visit [ piedmont.org ].
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