ATLANTA, April 30, 2014 (GLOBE NEWSWIRE) -- MedAssets (Nasdaq:MDAS) today announced that Alameda Health System (AHS) has received the 2013 MedAssets President's Award as part of this year's Healthcare Business Summit held April 22-24 in Las Vegas. The award recognizes AHS for a bold, comprehensive performance improvement and change management initiative put in place to enhance operational efficiency.
"To become a high functioning organization, we have to provide exceptional care efficiently and cost-effectively in order to sustain our mission," said Wright Lassiter, chief executive officer, Alameda Health System. "More importantly, we must have pragmatic strategies in place to ensure patient safety and extraordinary service. MedAssets has been an instrumental partner on our journey to become the provider of choice across Alameda County."
AHS' "BETTER" Initiative
Working together, AHS and MedAssets adopted a comprehensive assessment and project governance approach to provide overall direction and accelerate savings. MedAssets identified $19.6 million in potential annual savings for AHS in five areas: supply expense; process improvement and labor utilization; purchased services and pharmacy; physician preference items; and capital and construction. By implementing what the AHS team calls, "BETTER" (Building Excellence Through Transformation Expense and Reduction) it created a model that supports future initiatives, provides accountability for cost reductions and operational gains and keeps the organization focused on the overall value it must deliver.
AHS was quickly ahead of schedule with a two percent reduction in operating expenses and $10 million in validated savings. This strong momentum continued and in 18 months, AHS' operating expenses fell five percent for total savings of $19 million. AHS also is utilizing MedAssets revenue cycle services to improve collections, manage the business office in one of their hospitals and rebill rejected claims. In the first 18 months, MedAssets has captured an additional $11 million in revenue for AHS.
Each year during the Healthcare Business Summit, MedAssets recognizes the healthcare organization that achieved the greatest performance management improvement as part of MedAssets ongoing commitment to recognize celebrate and honor those who are making a difference to improve the standard of healthcare.
Practical Opportunities to Improve Healthcare
This year the Summit brought together more than 1,500 healthcare leaders to network and exchange lessons learned for workable ways to create a more consumer-driven, value-based healthcare system. The agenda included more than 90 sessions of continuing professional education as well as meetings between providers and approximately 550 of the nation's manufacturers of healthcare supplies and services.
"As always, a primary goal in hosting this one-of-a-kind event is the sharing of best practices and innovation among the key stakeholders in healthcare," said John Bardis, chairman, president and chief executive officer, MedAssets. "It is our company's strong belief that we all play a pivotal role in the betterment of our healthcare. This year's event allowed us all to come together to recognize, celebrate and advance those who are improving the quality of care, as well as those who have chosen a personal path to make a difference in the lives of others."
Preserving and Enhancing the Quality of Life
MedAssets passion to help clients improve healthcare delivery is driven by a strong belief that all human beings are entitled to treatment that is dignified and loving. It is for this reason the Summit agenda presents information in context to the human experience. In that vein, other award recipients for this year include:
- 2013 Norman Borlaug Humanitarian Award – Gladys and Edgar Guitz of Potter's House, were honored for their outstanding humanitarian efforts to guide children and families that live in Latin America's largest garbage dump out of poverty and toward a better life. Watch the video.
- 2013 George Herbert Walker Bush Pacesetter Award – Sgt. 1st Class Leroy Petry, 2nd Battalion, 75th Army Ranger Regiment of the United States Army and Medal of Honor recipient was recognized for his heroic efforts during Operation Enduring Freedom in 2008. Petry lost his right hand in a grenade explosion while saving the lives of two fellow Rangers. Watch the video.
- 2013 Diverse Supplier Award – Kerma Medical Products was recognized for its support in building strong and diverse communities to help improve the quality of healthcare.
- 2013 President's Award for a Supplier – This year's winner, Michael Stoia, national account manager, GE Healthcare, was recognized for his work in demonstrating superior contract value and exemplary sales and market share growth to MedAssets clients.
About Alameda Health System
Alameda Health System (AHS), a major public health care provider headquartered in Oakland, Calif., is recognized as a world class patient and family centered system of care. As a regional and national leader in health care safety and excellence, AHS aims to optimize the health of all Alameda County residents by multiplying access points to its best-in-class care. Service and community engagement are a priority and the system offers programs that deliver value to individuals across all patient populations regardless of their social or economic status. Quality, financial strength and development of the workforce are also system hallmarks that ensure continual improvement to every aspect of our reach in the community. AHS employs nearly 4,500 people including more than 1,000 physicians at nine facilities. For more information, please visit www.alamedahealthsystem.org.
MedAssets (Nasdaq:MDAS) is a healthcare performance improvement company focused on helping providers realize financial and operational gains so that they can sustainably serve the needs of their community. More than 4,400 hospitals and 122,000 non-acute healthcare providers currently use the company's evidence-based solutions, best practice processes and analytics to help reduce the total cost of care, enhance operational efficiency, align clinical delivery, and improve revenue performance across the are continuum. For more information, please visit www.medassets.com.