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MedAssets Received Certification for Bundled Payment Solution

^{Published on 2011-10-12 05:08:25 - Market Wire}
 

ATLANTA--([ BUSINESS WIRE ])--MedAssets (NASDAQ: MDAS) today announced that the MedAssets Bundled Payment Solution has been certified aPROMETHEUS Payment®-readya by the Health Care Incentives Improvement Institute (HCI3). The PROMETHEUS prospective budgeting and retrospective reconciliation model has many similarities with the bundled payment initiative models proposed by the Centers for Medicare & Medicaid Services (CMS) on August 23, 2011. The MedAssets Bundled Payment Solution is the first commercial technology to receive this certification, providing health systems and other conveners with a validated, highly reliable system to calculate, track and reconcile reimbursements correctly in a bundled, episode of care environment.

"This certification should give further confidence to our clients that they have access to the tools and expertise necessary to be successful in addressing the reimbursement changes that healthcare reform brings."

A Rigorous Testing Process with an Immediate Positive Outcome

According to Franois de Brantes, executive director, HCI3, a key factor in certifying the MedAssets Bundled Payment Solution was the success of client implementation and MedAssetsa™ dedication to get it right. aWe are very pleased with the results from the certification testing process that the bundled payment engine had to pass through, in addition to the successful completion of live implementations with MedAssets clients.a

aReceiving this certification is a great honor and a testament to the effort put forth by MedAssets to be a technology innovator,a said Greg Strobel, president of Revenue Cycle Management, MedAssets. aThis certification should give further confidence to our clients that they have access to the tools and expertise necessary to be successful in addressing the reimbursement changes that healthcare reform brings.a

MedAssets is speaking on October 13th at the First National Bundled Payment Summit, which is being held in Washington D.C. from October 12-14.

About Health Care Incentives Improvement Institute

The Health Care Incentives Improvement Institute TM, Inc. (HCI3) is a not-for-profit multi-stakeholder umbrella organization for Bridges to Excellence, Inc. and PROMETHEUS Payment, Inc. The mission of the organization is to create significant improvements in the quality and affordability of health care by developing and implementing programs that recognize and reward physicians, hospitals and other health care providers that deliver safe, timely, effective, efficient, equitable and patient-centered care. HCI3 offers a comprehensive package of solutions to employers, health plans and coalitions to improve the flawed incentives that currently permeate the U.S. health care system. [ www.HCI3.org ]

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, please visit [ www.medassets.com ].

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