ATLANTA--([ BUSINESS WIRE ])--MedAssets (NASDAQ: MDAS) today announced an agreement with Huntington Hospital (Huntington), a 626-bed regional medical center located at Pasadena, Calif., to deploy a wide range of the companyas Revenue Cycle Technology solutions. Plans call for the not-for-profit hospital to utilize the companyas technology-enabled services and Web-based solutions to drive automation, improve revenue capture, and implement revenue cycle best practices. The expanded agreement builds upon the not-for-profit hospitalas recently renewed relationship with MedAssets Spend and Clinical Resource Management.
"We are pleased that Huntington has expanded their relationship with MedAssets"
An Integrated Approach for Cost and Cash Flow Management
According to Steve Ahlgrim, director of Materials Management, Huntington Hospital, a key factor in selecting MedAssets for revenue cycle solutions was the companyas proven track record of client support and documented savings results. aWorking with MedAssets in an enterprise-level capacity will give us a single point of accountability and create a structure that brings together our revenue and supply processes. We expect to gain a broader and deeper opportunity for margin improvement by gleaning business intelligence and standardizing processes across the entire cost and reimbursement continuum.a
Huntington selected several MedAssets Web-based solutions, including CDM Master and Charge Capture Audit, to replace existing manual processes in order to gain more accurate and compliant charging protocols. In addition, MedAssets revenue cycle experts will help develop defensible and competitive pricing to improve revenue capture. Further, MedAssets CrossWalk Pharmacy and CrossWalk Supply solutions will integrate Huntingtonas pharmaceutical and supply costs with its charge data to develop defensible pricing strategies to improve both revenue capture and reimbursement. The CrossWalk solutions help to identify and calculate the financial impact of missed charges and provide hospital management with instant visibility of revenue potential. With limited financial visibility between materials management and revenue cycle, the innovative system design enables accurate and complete data exchange between costs and charges that impact operating margins.
aWe are pleased that Huntington has expanded their relationship with MedAssets,a said Rand Ballard, senior vice president, chief operating officer and chief customer officer, MedAssets. aWe look forward to helping their team instill automation and best practices into hospital revenue cycle processes for cash flow improvement. This expanded business relationship demonstrates the value MedAssets offers to healthcare organizations seeking end-to-end financial improvement through our unbeatable combination of best contract pricing, leading supply chain and service line management technologies, along with differentiated industry-leading revenue cycle technology and services.a
About Huntington Hospital
Huntington Hospital is a 626-bed not-for-profit hospital that is home to the only trauma center and regional NICU in the San Gabriel Valley. Renowned for its programs in cancer care, neurosciences and cardiovascular services, Huntington is an active teaching hospital with Graduate Medical Education programs in internal medicine and general surgery. The hospital has a regional neonatal intensive care unit, treating babies with the highest acuity. For over 117 years, Huntington has been committed to serving its community with excellence, compassion and respect. For more information, please visit [ www.huntingtonhospital.com ].
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 ].