MedAssets Recognizes Healthcare Providers and Suppliers for Contributions toward High Quality, More Affordable Healthcare
ATLANTA--(BUSINESS WIRE)-- As healthcare reform and recession add to the complex challenges facing the nation’s healthcare system, MedAssets (NASDAQ: MDAS) has recognized hundreds of care providers and supply chain stakeholders for their contributions toward delivery of high quality, more affordable care. Collectively, the award winners demonstrated savings and/or financial improvement of what is estimated to be more than $350 million in 2011, in addition to efforts to eliminate waste and improve operating margins. The various award category recipients were recognized at the 2012 MedAssets Healthcare Business Summit held April 10-12.
All award recipients demonstrated leadership and an emphasis on innovation within the healthcare industry. The MedAssets President’s Award, in particular, recognizes both a provider and a supplier that stood out in pursuit of sustained financial improvement.
Texas Purchasing Coalition – President’s Award, Provider Category
The Texas Purchasing Coalition (TPC) received the 2011 President’s Award for $65.4 million in savings during the first 24 months of its relationship with MedAssets.
The TPC comprises 27 Texas-based facilities with a combined supply spend of $829 million. In 2010, TPC chose MedAssets to help with its supply chain needs and physician preference item consulting and technology for analytics.
Utilizing a combination of the company’s Spend and Clinical Resource Management solutions, members of the TPC generated the following savings: $3.9 million in pharmacy services; $20.2 million through distribution and clinical sourcing initiatives; $4.9 million from group purchasing services, and $40.3 million by converting usage and more standardization of physician preference items.
Read TPC’s full story here.
Jack Hannemann, Medline Industries – President’s Award, Supplier Category
Jack Hannemann, former vice president of national accounts, Medline Industries, received the 2011 President’s Award in the supplier category for his instrumental role in developing national agreements with MedAssets that have provided substantial value to healthcare providers.
After 35 years in the healthcare industry, Hannemann has facilitated uncountable cost savings to thousands of care providers across the nation through superior contract value for essential supplies used in delivering care.
“Each healthcare provider and supplier award winner we’ve recognized has their individual and tremendous success story to be told,” said Rand Ballard, senior executive vice president and chief customer officer, MedAssets. “They have faced the challenges of today’s healthcare system head on and have not waited for the market or the government to dictate success. MedAssets salutes our clients and valued suppliers for defining innovation and leadership, and we are humbled and honored to have played a role in their achievements.”
Category Award Recipients
The following clients also were recognized for achievements within specific award categories:
- Maricopa Integrated Health System (Phoenix, Ariz.)—Net Revenue Leadership
- Community Health Network (Indianapolis, Ind.) and Downey Regional Medical Center (Downey, Calif.)—Net Revenue Process Improvement
- Hartford Healthcare (Hartford, Conn.)—Net Revenue Innovation
- Memorial Hospital & Health System (South Bend, Ind.)—Cost Management Community Hospital Leadership
- Cook Children’s Physician Network (Fort Worth, Texas)—Cost Management Non-Acute Care Provider Leadership Award
- Broward Health (Ft. Lauderdale, Fla.) and UPMC (Pittsburgh, Penn.)—Supplier Diversity Excellence
About Texas Purchasing Coalition
The Texas Purchasing Coalition (TPC) is a supply chain management partnership that operates across Texas. The TPC is comprised of 11 Texas not-for-profit health systems representing 27 facilities that have committed to work together to lower their supply costs. The TPC enables its members to be recognized as one large system, thus aggregating their purchase volume and commitment to maximize tiered pricing options, create unique value, and develop customized programs. Combined, TPC members represent approximately $800 million in annual supply purchases. For more information, go to www.thetpc.com.
About Medline Industries
As the nation’s largest privately held manufacturer and distributor of healthcare products, Medline manufactures and distributes more than 125,000 products to hospitals, extended care facilities, surgery centers, physician offices and home care dealers. Medline is headquartered in Mundelein, Ill., serving as the primary distributor to over 450 major hospitals and healthcare systems. Medline offers a comprehensive array of consulting and management services encompassing the supply chain and logistics, utilization and standardization, business tools and enhanced reporting capabilities and on-staff clinicians. For more information, go to www.medline.com.
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 4,200 hospitals and 100,000 non-acute healthcare providers. The company currently manages $48 billion in supply spend and touches over $340 billion in gross patient revenue annually through its revenue cycle solutions. For more information, go to www.medassets.com.
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INDUSTRY KEYWORDS: Health Hospitals Other Health General Health Managed Care