Science & Technology
Science and Technology
Science and Technology
Tue, June 8, 2010 
ATLANTA--([ BUSINESS WIRE ])--MedAssets, Inc. (NASDAQ: MDAS) today announced that it has renewed a long-term spend management agreement with UPMC (University of Pittsburgh Medical Center), an $8 billion integrated global health enterprise. MedAssets will continue to provide its [ spend management solutions ], including [ group purchasing services ], [ supply chain data and analytical tools ] and custom interfaces to continuously improve UPMCa™s supply chain processes.
"UPMC and MedAssets have built a strong working relationship. MedAssetsa™ technology has been a key enabler in support of our ongoing efforts to optimize our supply chain processes to drive maximum efficiency and sustained savings"
Since 2005, MedAssets has provided UPMC with technology and analytical solutions to identify and implement process improvements to lower supply costs and increase the operational efficiency of its supply chain. Ensuring that data is current and supply pricing is correct has been a main focus for UPMC. UPMC updates its item master continuously using MedAssetsa™ solutions to ensure accurate pricing. Working with MedAssets, UPMC reduced its item master transactions by 55% in one year using a custom Price Discrepancy Database that has greatly increased the stability of the health systema™s pricing systems and improved payment accuracy. UPMC has also integrated its MedAssets tools with existing systems for added transparency and better workflow and automation.
aUPMC and MedAssets have built a strong working relationship. MedAssetsa™ technology has been a key enabler in support of our ongoing efforts to optimize our supply chain processes to drive maximum efficiency and sustained savings,a said Jim Szilagy, chief supply chain officer for UPMC. aBeyond the tools that MedAssets provides, their consultative approach to serving their customers has allowed us to work together as a team to customize solutions and processes so that UPMC realizes the greatest benefit. We have come to see MedAssets as an integral part of our continuous improvement efforts.a
aMedAssets is proud to be a key part of UPMCa™s improvement process as the health system continues to be on the leading edge of supply chain optimization,a said Rand Ballard, chief customer officer and chief operating officer, MedAssets. aOur solutions and guidance have helped UPMC to meet its goal of optimum performance in its supply chain, leading to better efficiency and increased savings that the health system has sustained over time. We look forward to helping UPMC continue to innovate its spend management practices.a
About MedAssets
MedAssets (NASDAQ: MDAS) partners with healthcare providers to improve their financial strength by implementing 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 40,000 non-acute healthcare providers. For more information, visit [ www.medassets.com ].
About UPMC
UPMC is an $8 billion integrated global health enterprise headquartered in Pittsburgh, Pennsylvania, and one of the leading nonprofit health systems in the United States. As western Pennsylvaniaa™s largest employer, with almost 50,000 employees, UPMC is transforming the economy of the region into one based on medicine, research and technology. By integrating 20 hospitals, 400 doctorsa™ offices and outpatient sites, long-term care facilities and a major health insurance services division, and in collaboration with its academic partner, the University of Pittsburgh Schools of the Health Sciences, UPMC has advanced the quality and efficiency of health care and developed internationally renowned programs in transplantation, cancer, neurosurgery, psychiatry, orthopaedics, and sports medicine, among others. UPMC is commercializing its medical and technological expertise by nurturing new companies, developing strategic business relationships with some of the worlda™s leading multinational corporations and expanding into international markets, including Italy, Ireland, the United Kingdom and Cyprus.
MDAS/B
