ATLANTA--(BUSINESS WIRE)-- MedAssets, Inc. (NASDAQ: MDAS) announced today that Northeast Alabama Regional Medical Center (RMC) of Anniston, Ala., has signed a multi-year spend management agreement with the company, including group purchasing (GPO) services and physician preference item (PPI) consulting, in order to reduce costs and engage physicians in the supply cost management and margin improvement process.
The regional healthcare provider for a five county service area, RMC contributed more than $135 million to the local economy in fiscal year 2009.
Through MedAssets' spend management capabilities, the hospital will have access to a comprehensive contract portfolio of high quality, cost-effective medical products and supplies from more than 1,500 leading manufacturers and distributors. Through clinical PPI consulting, MedAssets’ change management experts will work with the hospital’s medical, clinical and administrative staff to develop and implement strategies and processes focused on reducing costs on high-expense medical devices and supplies while improving clinical outcomes.
“RMC is always looking for ways to improve the care we offer our patients while delivering that care at the lowest possible cost,” said David McCormack, chief executive officer of RMC. “It is critical for us to reduce our costs as we prepare for lower reimbursement rates in a post-reform environment. Our agreement with MedAssets will help us achieve our cost reduction goals and engage our clinical team in the change process.”
Rand Ballard, MedAssets' chief operating officer and chief customer officer, stated, “MedAssets has a solid record of delivering financial improvement and enhanced spend management processes to our customers. We look forward to delivering similar, substantial results to RMC as their partner in helping this quality-focused healthcare provider optimize their supply chain.”
Northeast Alabama Regional Medical Center has a rich tradition as a healthcare leader in Northeast Alabama. With a 338-bed capacity, Regional Medical Center is a non-tax supported, not-for-profit hospital, serving over 250,000 citizens in the region. The excellence of our facility has been documented by the continuing approval by the Joint Commission on Accreditation of Healthcare Organizations. Over 180 physicians, representing most major specialties, comprise Regional Medical Center’s medical staff. Its employees number over 1,500 full and part time, making it one of Calhoun County’s largest employers. Regional Medical Center is a member of the Voluntary Hospitals of America, Inc., an alliance of over 800 not-for-profit healthcare providers sharing common goals, values, and philosophies.
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 healthcare providers. For more information, go to www.medassets.com.
KEYWORDS: United States North America Alabama Georgia
INDUSTRY KEYWORDS: Technology Data Management Software Health Hospitals Other Health Professional Services Finance Medical Supplies