ATLANTA, Apr 21, 2010 (BUSINESS WIRE) -- MedAssets, Inc. (NASDAQ: MDAS) today announced that it entered into a transformational revenue cycle agreement with Cullman Regional Medical Center, based in Cullman, Ala. to improve the provider's business office operations.
MedAssets will provide the hospital with a comprehensive set of revenue cycle technology and service solutions that will result in accelerated cash flow, improved net revenue and offer greater insight into Cullman Regional Medical Center's overall revenue cycle. MedAssets will implement a range of solutions spanning the revenue cycle including: consulting on patient access processes, accounts receivable valuation, third-party billing and collection services, enhanced automation for cash and allowance posting and managed care recovery services, including Silent PPO and underpayment recovery.
Cullman Regional Medical Center (CRMC) is a 145-bed fully-accredited medical center with more than 1,000 employees and $100 million in annual net revenue. The hospital provides services to more than 150,000 residents in a six-county area, and has been serving its community for more than 70 years.
"As an organization, two of CRMC's core values are doing the right thing for the right reason and being wise stewards of community resources. With these values in mind, CRMC strives daily to optimize process improvements and consistently seek more efficient ways to provide the best healthcare to the community we serve," said Jete Edmisson, chief operating officer and chief financial officer, Cullman Regional Medical Center. "Working with MedAssets and honing our revenue cycle operations shows our commitment to these values by emphasizing financial improvement and providing a more efficient operation so that we can continue to be a leader in technology and patient services in our area."
"Cullman Regional Medical Center is a forerunner, taking a proactive approach to revenue cycle management and getting ahead of potentially diminishing margins," said Rand Ballard, chief customer officer and chief operating officer, MedAssets. "The proven transformational services MedAssets is providing will improve its processes, allowing the hospital to generate immediate cash improvement and sustain a best practice revenue cycle in the long-term."
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 Cullman Regional Medical Center
Cullman Regional Medical Center is a fully accredited 145-bed medical center which is dedicated to promoting wellness by providing excellent healthcare services in the most efficient manner and exceeding the expectations of those we serve. For more information, visit www.crmchospital.com.
SOURCE: MedAssets, Inc.
Regina Haas, 678-624-7420
Robert Borchert, 678-248-8194
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