MedAssets Extends Strategic Partnership With HealthTechS3 for Solutions to Help Critical Access Hospitals Reduce the Total Co...
20 Noviembre 2015 - 7:30AM
MedAssets (NASDAQ:MDAS) today announced an extension of its
long-standing strategic partnership with HealthTechS3 (HTS3), a
Brentwood, Tenn.-based provider of financial services,
executive/physician recruitment, consulting/management services and
supply chain solutions to critical access and acute care hospitals
in rural areas and smaller communities across the United States.
The agreement continues a successful 20-year participation in
HTS3's Business Partnership Program, through which HTS3 customers
can access MedAssets' supply chain and capital and construction
solutions to reduce the total cost of care.
Through this ongoing relationship, MedAssets offers the pricing
advantages of its contracted supplies, purchased services and
capital equipment, as well as tools and field expertise to gain
greater fiscal control of the construction and renovation
process.
MedAssets works to bring HTS3 customers best-practice
cost-management and process improvement strategies typically
available to larger integrated delivery networks. For example, HTS3
contracted with MedAssets to provide a Capital Equipment Service
Line Director (SLD) to assist HTS3 member providers with capital
equipment needs –a service that recently helped a single critical
access hospital in the Midwest save $708,000 in costs related to
purchase and service of MRI systems.
Using proven capital equipment negotiation tools and techniques,
the MedAssets SLD worked with a different hospital's clinical
personnel to determine exact configuration needs for a new
wide-bore MRI, compare with vendor offerings on a line-by-line
basis, and negotiate a purchase cost that saved nearly $500,000
over contract pricing. The SLD later worked with hospital staff to
develop precise coverage requirements for a MRI service agreement
that reduced annual service costs by more than 50 percent over the
original price quote they received.
"For two decades, the value provided through the MedAssets
contract portfolio and related services has helped us deliver, on
average, 15% in annual savings totaling $15 million since 2011 to
our customers. We look forward to further strengthening this
successful partnership," said Neil Todhunter, president of HTS3.
"As a result of cost-reduction opportunities offered by the
HTS3-MedAssets relationship, rural and community hospitals
nationwide are building financial strength, achieving professional
excellence and growing to meet the needs of their communities."
"MedAssets is pleased to continue our work with HealthTechS3 and
its provider customers to translate the challenges of operating
smaller health systems and stand-alone hospitals into opportunities
for success," said Rand A. Ballard, senior executive vice president
and chief customer officer, MedAssets. "For any healthcare
provider, improving the standard of care begins with establishing a
sustainable cost structure. Through HTS3, MedAssets offers
solutions to streamline operations and reduce costs through our
combined strengths in supply chain expertise, national purchasing
volume, infrastructure and technology."
About HealthTechS3
For more than 40 years, HealthTechS3 has worked with critical
access, district and acute care hospitals across the United States
to help them improve financial strength, build professional
excellence and grow to meet the needs of their communities.
HealthTechS3 provides financial services, consulting services and
supply chain solutions to ensure customers are operating
efficiently and effectively. HealthTechS3 also offers physician
recruitment and executive placement to help recruit and retain
qualified healthcare professionals. For more information,
please visit www.htmsinc.com.
About MedAssets
MedAssets (NASDAQ:MDAS) is a healthcare performance
improvement company that combines strategic market insight with
rapid operational execution to help providers sustainably serve the
needs of their communities. More than 4,500 hospitals and 123,000
non-acute healthcare providers rely on our solutions to reduce the
total cost of care, enhance operational efficiency, align clinical
delivery, and improve revenue performance across the System of
CARE. For more information, please visit www.medassets.com.
MDAS/B
CONTACT: Media Contact:
Lea Volpe
678.248.8203
lvolpe@medassets.com
Investor Contact:
Robert Borchert
678.248.8194
rborchert@medassets.com
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