Application of Company’s Procurement, Revenue Cycle, Clinical Resource and Operational Assessment Solutions to Support Hospital-Affiliated Oncology Centers
ATLANTA--(BUSINESS WIRE)-- MedAssets (NASDAQ: MDAS) today announced an innovative, comprehensive solution suite designed to help hospitals more effectively manage the clinical, operational and financial aspects of oncology infusion centers. The MedAssets Oncology Assessment and Management Solutions address the fast-growing sector of hospital-owned cancer centers.
According to MedAssets Senior Vice President, Pharmacy, Blane Schilling, the number of hospital-affiliated cancer centers has grown at a double digit rate in recent years. “Three years ago, 25 percent of acute care oncology infusion centers were owned by hospitals. This year that number is 40 percent. Chemotherapy medications can represent anywhere from 12 to 30 percent of a hospital’s pharmacy spend and these often perishable drugs continue to spike in price. Any healthcare provider that adds or builds an oncology practice will need an effective cost-containment strategy to mange this unique, growing, and difficult to understand space.”
Smart Contracting Alone Is Not the Answer
MedAssets designed its new oncology solution suite based upon its experts’ understanding that smarter contracting and procurement of supplies alone will not solve the challenges of escalating pharmacy costs and decreased reimbursements in the midst of a rising number of cancer patients. The company has combined its unique pharmacy consulting solutions with its industry-leading revenue cycle, clinical and operational analytic tools to enable its team of experts to assess oncology medication utilization and practices from contracting and purchasing all the way through to the logistics of administration at patient bedside.
The MedAssets Oncology Assessment and Management Solutions give two options to support care providers in delivering advanced cancer treatments with the best standard of care and efficiency:
- Assessment. An oncology center’s financial performance is reviewed with MedAssets own reimbursement tools, along with expert review of purchase spend and contract management activity. In addition, MedAssets clinical resource experts utilize operational analytic tools to assess in-house protocols and data against evidence-based guidelines. The assessment helps to identify opportunities for improvement prioritized by the customer’s organizational goals.
- Implementation. MedAssets experts support the implementation of best practice improvements, which include the re-engineering workflows and standardization of clinical processes to provide enhanced medication utilization and sustainable performance improvement.
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. More than 180 health systems, 4,000 hospitals and 90,000 non-acute healthcare providers rely on MedAssets. The company currently manages $45 billion in supply spend and touches more than $316 billion in total patient revenue annually through its revenue cycle solutions. For more information, call 1-888-883-6332, e-mail [email protected] or visit http://www.medassets.com.
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INDUSTRY KEYWORDS: Technology Software Health Hospitals Oncology Professional Services Finance