ATLANTA--(BUSINESS WIRE)-- In its ongoing effort to promote technological innovation to contain the costs of the nation’s healthcare system, MedAssets recently held its 10th annual Technology and Innovation Forum (Technology Forum). During the day-long event, entrepreneurial, diverse and/or “green” suppliers with new technologies were able to showcase their capabilities to representative MedAssets hospital clients, who in turn validate the potential value each solution offers to help improve patient care quality and healthcare delivery processes.
Client-led Value Analysis; Facilitating National Provider Exposure to New Technologies
This year, 350 hospital purchasing decision makers from leading organizations across the country were introduced to more than 60 new solutions ranging from non-toxic, anti-microbial spray to non-toxic wall paint that eliminates harmful fumes to patients, to a technology that turns tap water into a high-performing cleaning agent. More than 10 percent of the competing suppliers this year were listed as ‘environmentally preferred.’
Based upon the client-led value analysis, MedAssets will pursue the high-ranked suppliers for further evaluation as a next step toward contract consideration within its industry-leading group purchasing organization (GPO). Participating suppliers in the Technology Forum also benefit from the judging feedback and the opportunity for expedited exposure to the thousands of healthcare providers that rely on MedAssets for supply chain needs.
Since 2002, approximately 72 vendors, representing 20 percent of all vendor attendees appearing at the Technology Forum have received a contract as a result of their participation.
“The positive application of technology to help solve healthcare treatment and challenges is astounding, yet according to data by the Bureau of the Census, more than half of start-up businesses close in the first five years and a full quarter of small businesses don’t survive even 12 months,” said Joe Greskoviak, president, Spend and Clinical Resource Management, MedAssets. “As the nation’s largest group purchasing organization, we take very seriously our opportunity to promote innovation in healthcare, as well as our responsibility to our hospital clients to drive continuous improvement in our contract portfolio. The Technology Forum is a key event that enables us to identify impactful new suppliers while assisting healthcare providers to improve efficiency and quality of care. Whether these suppliers contract with us or not, we are facilitating healthcare provider access to groundbreaking technologies that otherwise might not have been identified, or taken years to penetrate the market.”
During the Technology Forum, MedAssets clients evaluate the new technology, products and services based on technology innovation, ability of the product or service to improve patient care and improve the efficiency of healthcare delivery, its ability to satisfy a business or clinical need and the likelihood of healthcare organizations to purchase the product or service. The event is held in conjunction with MedAssets Business and Technology Forum, which promotes collaboration and information exchange among MedAssets 20 GPO Advisory Committees as part of its client-led governance.
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.
KEYWORDS: United States North America Georgia
INDUSTRY KEYWORDS: Technology Data Management Supply Chain Management Software Health Hospitals Professional Services Finance Retail