ATLANTA--(BUSINESS WIRE)-- Atlantic Health has signed a multi-year contract extension with MedAssets (NASDAQ: MDAS) for supply chain and clinical resource management services. The health system realized more than $13 million in supply chain savings using MedAssets’ technology and services. Atlantic Health has also realized more than $7.5 million in managed care recoveries over several years through the use of MedAssets’ revenue cycle services to accelerate its cash flow and improve margins.
Atlantic Health uses MedAssets for strategic sourcing or group purchasing services, supply chain technologies and analytics solutions. To engage clinicians in the cost reduction process, Atlantic Health relies on MedAssets’ Web-based Service Line Analytics tool and clinical consulting services to analyze clinical and financial performance across its service lines and identify variations in clinical resource utilization. The health system also utilizes Strategic Information and Strategic Information for Pharmacy to increase visibility into supply chain and pharmacy purchasing and to identify savings opportunities.
New Jersey-based Atlantic Health has 1,154 licensed beds within its two hospitals and reported more than 62,000 patient admissions in 2010 with net patient revenue of $1.1 billion.
“MedAssets has been an important partner for us in formulating and executing a supply chain cost reduction strategy,” said Atlantic Health Chief Supply Chain Officer and Director of Orthopedic Services Joseph DiPaolo. “We appreciate the flexibility of its purchasing contracts and how easily MedAssets’ solutions align with our specific needs. Their ability to drive physician engagement through expert clinical consulting and state-of-the-art analytics and technology is really helping us move the needle across our system when it comes to high-cost supply items.”
MedAssets Chief Operating Officer and Chief Customer Officer Rand Ballard, stated, “Atlantic Health and MedAssets have built a strong partnership for continuing to drive cost out of their health system, which is vital for all healthcare providers right now. We look forward to helping them continue to manage their costs and add additional operational efficiencies across their service lines.”
About Atlantic Health
Atlantic Health (atlantichealth.org) is one of the largest non-profit health care systems in New Jersey and includes Overlook Hospital in Summit and Morristown Memorial Hospital. The two hospitals have a combined total of 1,154 licensed beds and more than 2,500 affiliated physicians providing a wide array of health care services to the residents of Northern and Central New Jersey. Atlantic Health is a Major Clinical Research Affiliate with The Cancer Institute of New Jersey. Atlantic Health’s hospitals are accredited by The Joint Commission. Atlantic Health is the primary academic and clinical affiliate in New Jersey of Mount Sinai School of Medicine and The Mount Sinai Hospital.
MedAssets 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 180 health systems, 4,000 hospitals and 90,000 non-acute healthcare providers. For more information, go to www.medassets.com.
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INDUSTRY KEYWORDS: Technology Data Management Supply Chain Management Software Health Hospitals Pharmaceutical Retail Managed Care