MedAssets, Inc. (MDAS: NASDAQ) announced today that it has entered into a new multi-year agreement with Bon Secours Health System to expand its relationship by implementing a suite of MedAssets data management and analytical tools to enhance supply chain and revenue cycle data accuracy and transparency across the health system. In 2005, Bon Secours began using MedAssets’ revenue management solutions for chargemaster management, charge capture and strategic pricing.
Bon Secours Health System, a Catholic healthcare ministry headquartered in Marriottsville, Maryland, includes 15 acute-care hospitals, one psychiatric hospital, six nursing care facilities, numerous ambulatory sites, six assisted living facilities, and home health and hospice services. Bon Secours Health System’s more than 19,000 caregivers help people in 12 communities in nine states, primarily on the East Coast. The Congregation of Sisters of Bon Secours also has health care ministries in France, Ireland, Great Britain, and South America.
Bon Secours will be implementing CrossWalk® to connect its hospitals’ supply item files and chargemasters, thus enabling a process by which mark-up strategies can be modeled before implementation to understand gross and net revenue impact. The linkage also allows ongoing monitoring of the mark-up strategy and provides the ability to continuously enforce accurate and defensible pricing of supplies. Additionally, CrossWalk helps hospitals identify costly items not in the supply item file and items that are being purchased off contract and outside of the standard purchasing processes.
Bon Secours will also utilize supply chain analytics by incorporating MedAssets’ best-practice master supply item file to perform complex data conditioning. MedAssets continuously collects and reviews multiple sources of supply item data to establish the gold standard in supply item file records.
“We decided to move forward with MedAssets’ tools in order to get a deeper look into our purchasing patterns and subsequent effects on reimbursement,” stated David McCombs, vice president of enterprise resource planning and supply chain, Bon Secours Health System. “In addition, MedAssets’ Item File Services will ensure we have the highest levels of data evaluation capabilities and accuracy in our item file records.”
“We are honored to enhance our relationship with Bon Secours Health System,” said Rand Ballard, chief operating officer and chief customer officer, MedAssets, Inc. “The combination of our revenue cycle and supply chain management capabilities will help Bon Secours drive operational and financial efficiencies throughout their health system.”
MedAssets provides a complete range of supply chain and revenue management solutions as part of its Merge Technology® platform.
About MedAssets
MedAssets (NASDAQ: MDAS) partners with healthcare providers to improve their financial strength by implementing integrated spend management and revenue cycle solutions that help control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency. MedAssets serves more than 125 health systems, including 2,500 hospitals and 30,000 non-acute care healthcare providers. For more information, visit www.medassets.com.