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MedAssets Showcases Latest Advancements in Unmatched End-to-End Financial Improvement Portfolio

^{Published on 2011-06-27 10:45:41 - Market Wire}
 

ATLANTA--([ BUSINESS WIRE ])--MedAssets (NASDAQ: MDAS), today announced that it will introduce 2011 HFMA ANI conference attendees to the latest advancements in its unmatched portfolio of revenue cycle and spend management technology and services designed to improve the quality and efficiency of the healthcare industry. New comprehensive solutions span patient access, bundled payment solutions and collections, and integrate several of the MedAssets industry-leading revenue cycle tools in tandem with new, state-of-the-art applications designed to proactively drive revenue capture and accounts receivable (A/R) management across the entire revenue cycle.

"Our company is focused solely on helping healthcare organizations to achieve sustainable performance improvement. We expect to combine our knowledge of industry best-practice workflows and deliver actionable, evidence-based solutions that will offer increasing benefit to our customers in face of complex healthcare processes and incredible margin pressures."

MedAssets serves more than 180 health systems, 4,000 hospitals and 90,000 non-acute providers with industry-leading Web-based revenue cycle technology combined with revenue cycle consulting and extended business office services. It also provides a differentiating comprehensive suite of spend and clinical resource management capabilities to improve the total cost of care: group purchasing, strategic sourcing, medical device or Physician Preference Items (PPI) cost management, supply chain analytics and data services, lean process consulting expertise and a clinical workforce or labor management solution.

MedAssets at HFMA

MedAssets will highlight several of its next generation solutions with 30-minute presentations during the 2011 HFMA ANI exhibition in Orlando, Fla., June 27-28 at booth #1003. Presentation start times are: Monday, June 27 & Tuesday, June 28: 11:45 a.m., 12:30 p.m., 1:45 p.m., 4:00 p.m., 4:30 p.m. and 5:15 p.m.

• MedAssets Access Integrity suite. An integrated patient access suite of solutions thatbrings together the many disparate financial clearance activities into a single rules-based workflow. The Access Integrity suite delivers a complete solution to verify eligibility and benefits, provide accurate patient bill estimates, increase cash collections, conduct efficient day-to-day processes and reduce patient access-related denials.
• MedAssets Collections Management. A fully integrated receivables solution, MedAssets Collections Managementconsolidatesthe workflows of denials, contract management and underpayments into one Web-based technology all open receivables, denials, and underpays into one integrated workflow. Powerful business rules, utilizing MedAssets payer expertise, focus usersa™ follow-up activities for maximum financial performance.Tightly integrated with the MedAssets industry-leading Claims Management and Contract Manager, Collections Management uses automation and technology to empower collectors to do their job with enhanced efficiency and consistency.
• MedAssets Bundled Payment Solution. The first reimbursement system specifically designed to manage and transact episode of care payments. MedAssets Bundled Payment Solution offers a unique capability to bundle services adjusted for risk/severity at the patient level through the usera™s current fee-for-service claims data. The tool then calculates compensation based on care a patient should receive per episode and transacts those episodic equivalent payments.
• Physician Preference Items Services. MedAssets industry-leading review of the total cost of care delivery involving medical devices and other PPI typically results in savings of 5-20 percent of implant expense. The comparative analysis variables include reimbursement, supply cost, utilization and clinical resource data. An on-site team engages physicians in a distinct analytical review process that leverages the companya™s service line analytics tool to present insight on cost drivers and assess savings opportunities. The goal is to maintain high quality patient outcomes while gaining consensus on opportunities to standardize and improve clinical resource utilization.

Customer Educational Sessions

MedAssets customers also are sharing valuable insight at 2011 HFMA ANI educational sessions:

Tuesday, June 28 a 10:00 a" 11:15 a.m.

• A Seven-Step Process to Improve Efficiency and Compliance in Supplier Management at UPMCa" presented by University of Pittsburgh Medical Center
• Bundled Payment Plans: Improving Outcomes and Cost-Effectiveness Through the PROMETHEUS Payment® Projecta" presented by Health Care Incentive Improvement Institute and Spectrum Health

Wednesday, June 29 a 7:00 a" 7:30 a.m.

• Preserving Net Revenue: Using Technology to Re-engineer Processes, Simplify Reimbursement and Reduce Denialsa" presented by Tenet Healthcare Corporation and MedAssets

Wednesday, June 29 a 10:00 a" 11:15 a.m.

• Atlantic Health Uses Service Line Management to Drive Strategic Decisions a" presented by Atlantic Health and MedAssets

Taking Our Customers to the Next Level

aMedAssets has the most proven, comprehensive suite of Web-based revenue cycle management solutions and is a clear industry leader in reducing supply chain costs. The advanced solutions wea™re highlighting at this yeara™s ANI demonstrate our progress toward advanced technology platforms that will help healthcare organizations increase revenue capture, improve cash collections and lower medical device costs,a said John Bardis, chairman, president and chief executive officer, MedAssets.aOur company is focused solely on helping healthcare organizations to achieve sustainable performance improvement. We expect to combine our knowledge of industry best-practice workflows and deliver actionable, evidence-based solutions that will offer increasing benefit to our customers in face of complex healthcare processes and incredible margin pressures.a

About MedAssets

MedAssets (NASDAQ: MDAS) partners with healthcare providers to improve their financial strength by implementing revenue cycle, spend and clinical resource management solutions that help capture revenue, control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency. MedAssets serves more than 180 health systems, 4,000 hospitals and 90,000 non-acute healthcare providers. The company currently manages $45 billion in supply spend and touches over $316 billion in total patient revenue annually through its revenue cycle solutions. For more information, go to [ www.medassets.com ].

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