ATLANTA--(BUSINESS WIRE)-- With commitment to efficiency and financial improvement being more important than ever, MedAssets, Inc. (NASDAQ: MDAS) honored its customers Wednesday night at the company’s annual Healthcare Business Summit. The awards recognized the organizations that have achieved financial improvement and savings in 2009 from the use of MedAssets solutions.
MedAssets top honor, the Enterprise President's Award, was given to the Baylor Health Care System of Texas. Given annually to the customer with the highest documented financial improvement using both MedAssets' revenue cycle management and spend management solutions, Baylor Health Care was honored for its enterprise approach to financial improvement. MedAssets assisted Baylor Healthcare in 2009 with an integrated approach to controlling supply cost, improving margins and cash flow, increasing regulatory compliance and optimizing operational efficiency. The organization signed off on $18 million in documented supply chain savings alone within the first year of its spend management agreement with MedAssets.
“Baylor Health Care System has dedicated itself to finding savings and improving efficiencies so that it is in the best position possible to serve the patients who depend on it,” said Rand Ballard, chief customer officer and chief operating officer, MedAssets. “The Baylor team should be commended for the commitment it has shown to realizing significant financial improvement.”
MedAssets honored several customers for commitment to best practice spend management processes. The Spend Management Customer of the Year was Wellmont Health System of Kingsport, Tenn. Piedmont Healthcare of Atlanta was given the Spend Management Innovation Award. In the non-acute market, National Surgical Hospitals was named the Spend Management Non-Acute Care Customer of the Year. The Supply Chain Analytics Customer of the Year was Main Line Health of suburban Philadelphia.
MedAssets also honored the top performers among healthcare providers using the company’s revenue cycle management tools and services. St. Vincent Health of Indianapolis, Ind., was named the Revenue Cycle Management Technology Customer of the Year. Cook County Health and Hospitals Systems of Chicago earned the Revenue Cycle Services Customer of the Year Award. Ontario Ministry of Health and Long-Term Care was named the Decision Support Customer of the Year.
Expanded this year were the Lifetime Savings Awards, an impressive group of more than 115 healthcare providers from across the nation who have documented financial improvements of $1 million or more using MedAssets' supply chain management or revenue cycle management solutions. This list increased from just over 70 healthcare providers in 2008.
A complete list of MedAssets Healthcare Business Summit Award winners can be found at MedAssets Healthcare Business Summit 2009 Customer Awards.
MedAssets (NASDAQ: MDAS) 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 125 health systems, 3,300 hospitals, and 40,000 non-acute care healthcare providers. For more information, go to www.medassets.com.
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