ATLANTA, Mar 23, 2010 (BUSINESS WIRE) -- MedAssets, Inc. (NASDAQ: MDAS) today announced that Huntsville Hospital has selected MedAssets Revenue Cycle Management solutions for claims management and claims audit and resolution to improve revenue integrity through payor reimbursement. Huntsville is a not-for-profit healthcare system with 881 licensed acute care beds providing integrated healthcare services to residents of North Alabama and southern Tennessee.
Huntsville Hospital chose MedAssets' Claims Management solution to consolidate its multiple claims systems onto a single platform. Using the solution, Huntsville Hospital will be able to improve its clean claims and first pass payment rates and improve staff productivity by utilizing the advanced edit capabilities and workflow. MedAssets' Claims Management solution, XClaim, earned the top ranking in the KLAS(R) Revenue Cycle - Claims Management category for the fourth straight year in 2009.
With the MedAssets' Claims Auditor solution, Huntsville Hospital can proactively manage and assess risk from Medicare RAC audits and other payor audits to secure its revenue through increased compliance and faster response times. Huntsville Hospital will also enjoy improved visibility and stronger reporting capabilities across its facilities.
"We chose solutions that can help our staff improve our claims management process by automating manual processes wherever possible, providing enhanced reporting capabilities and establishing a flexible platform to support our organization's growth strategy," said Vince Bonetti, Executive Director of Revenue Cycle at Huntsville Hospital. "We look forward to the financial improvement benefits MedAssets solutions will bring us in the claims management area, as well as the support and expertise it will provide us as we respond to Medicare RAC audit inquiries."
"As Huntsville Hospital continues to focus on improving its operational performance, MedAssets will focus on leveraging our reimbursement integrity and compliance and audit solutions to assist in this endeavor," said Rand Ballard, chief customer officer and chief operating officer, MedAssets. "Huntsville Hospital will be able to realize better productivity and efficiency and improved cash flow by ensuring they are receiving the correct reimbursement for the services they provide in a timely manner. This continues to be a major area of focus for leading hospitals like Huntsville Hospital as reimbursement rates continue to decline."
MedAssets (NASDAQ: MDAS) partners with healthcare providers to improve financial strength by implementing spend management and revenue cycle management 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 care healthcare providers. For more information, go to www.medassets.com <http://www.medassets.com> .
About Huntsville Hospital
With 881 licensed acute care beds, Huntsville Hospital is one of the largest locally owned not-for-profit hospitals in the U.S. It serves as a teaching facility for the University of Alabama-Birmingham School of Medicine. Its facilities include Huntsville Hospital, Huntsville Hospital for Women & Children, the outpatient Medical Mall, Madison Medical Park, and a 70-bed rehabilitation hospital located on the main Huntsville Hospital campus. Huntsville Hospital affiliates also include Athens-Limestone Hospital in Athens, Ala., and Helen Keller Hospital in Sheffield, Ala. In addition, Huntsville Hospital will open a hospital in Madison, Ala. in 2012.
SOURCE: MedAssets, Inc.
Regina Haas, 678-624-7420
Robert Borchert, 678-248-8194
Copyright Business Wire 2010