MedAssets, Inc. (NASDAQ: MDAS) announced that Baylor Health Care System, based in Dallas, Texas, has selected MedAssets as their strategic supply chain partner, including group purchasing (GPO) services , physician preference item (PPI) cost reduction services and enabling technology. The multi-year agreement provides Baylor with access to MedAssets’ GPO and customized supply chain management capabilities including its supply chain analytics and medical device consulting services to help lower supply cost.
Through MedAssets’ GPO services, Baylor will access a comprehensive contract portfolio of quality, cost-effective commodity medical products and supplies from more than 1,000 leading manufacturers and distributors. The Company will also collaborate with Baylor’s medical, clinical and administrative staff in a process to address and reduce costs on high-expense supplies.
The agreement also provides Baylor with access to MedAssets’ supply chain technology and analytical solutions that increase transparency and provide actionable information to control supply costs. Baylor has been a MedAssets customer for more than five years, utilizing aspects of the company’s revenue cycle management solutions .
“We are pleased that Baylor chose to expand its relationship with MedAssets by adding our Company’s innovative supply chain solutions,” stated John Bardis, president and chief executive officer, MedAssets, Inc. “MedAssets’ solutions offer transparency to help our customers identify performance gaps and address source issues. This increased visibility into operations and finances provides information and insight to drive performance improvement.”
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, 3,300 hospitals and 30,000 non-acute care healthcare providers. For more information, go to www.medassets.com .