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ATLANTA, Feb 24, 2009 (BUSINESS WIRE) -- MedAssets, Inc. (NASDAQ: MDAS) today announced that MemorialCare health system, based in southern California, signed a multi-year agreement to implement MedAssets' new Alliance Decision Support(R) solution suite.
An enterprise-wide management tool for hospitals, healthcare systems and long-term-care organizations, Alliance for Decision Support (ADS) combines budgeting, cost accounting and contract management data in one common database to enhance operating, financial and overall business decisions. By providing access to existing clinical and patient financial systems that compare and track utilization patterns and performance indicators against budget, ADS creates identifiable opportunities for providers' sustained margin improvement. Alliance Decision Support's easy-to-use, customizable executive dashboard also delivers actionable data that also helps providers measure current performance against established metrics.
The Web-based platform allows for a scalable and flexible implementation that is quickly achieved. Compatible with existing clinical and patient financial systems, Alliance Decision Support is also available as a turnkey installation to address specific enterprise needs.
MemorialCare is a nationally recognized not-for-profit health system with six hospital facilities located in Los Angeles and Orange Counties. MemorialCare has been identified as one of the top integrated systems in America, a leading hospital organization for technology, one of the best governed hospital systems in the U.S. and as having the top leadership team in the country. MemorialCare has over 1,500 licensed beds, employs more than 10,000 staff members, cares for over 85,000 patients annually, and generated approximately $1.1 billion of net patient revenue in 2007 alone.
MemorialCare's hospitals currently utilize multiple MedAssets supply chain management solutions to control costs and revenue cycle management solutions to maintain revenue integrity and capture reimbursement.
"Our primary focus was to find a cost-effective, powerful decision support tool that could manage our cost accounting down to the charge item level for improved data and reporting capabilities," stated Aaron Coley, Vice President Decision Support, MemorialCare. "We are looking forward to seeing improvements in our organization's business and analytical processes and in the delivery of the results we've been shown Alliance can provide."
"The improved capabilities of our Alliance Decision Support solution suite integrated with MedAssets' already implemented solutions will ultimately enable MemorialCare to better run their system," stated D.T. Nguyen, President, Revenue Cycle Management, MedAssets. "MemorialCare is nationally recognized as an innovator and leader in the healthcare marketplace and we are very proud to have been chosen as their decision support system provider."
About MedAssets
MedAssets (NASDAQ: MDAS) partners with healthcare providers to improve their financial strength by implementing integrated 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 30,000 non-acute care healthcare providers. For more information, go to www.medassets.com.
About MemorialCare
MemorialCare Health System, one of the country's top 100 integrated health care networks, according to research firm Verispan, is comprised of six facilities located in southern California.These include Anaheim Memorial Medical Center, Long Beach Memorial Medical Center, Miller Children's Hospital in Long Beach, Orange Coast Memorial Medical Center in Fountain Valley and Saddleback Memorial Medical Center in Laguna Hills and San Clemente.For more information, go to www.memorialcare.org.
mdas/B
SOURCE: MedAssets, Inc.
Media Contact:
MedAssets
Regina Haas, 678-624-7420
pr@medassets.com
or
Investor Contact:
Robert Borchert, 678-248-8194
rborchert@medassets.com
Copyright Business Wire 2009