ATLANTA, June 23, 2014 (GLOBE NEWSWIRE) -- MedAssets (Nasdaq:MDAS) today unveiled the upgraded version of Decision Support Costing and Contracting, a business intelligence tool that combines clinical, operational and financial system data from across care settings. With this MedAssets platform, health systems can drive more informed financial, operational, clinical and strategic planning decisions on a daily basis. MedAssets is showcasing the new version of Decision Support Costing and Contracting at the 2014 HFMA National Institute, June 22-25 in Las Vegas (Booth #412).
The new version of Decision Support Costing and Contracting is in response to a convergence of economic, regulatory and social factors creating increased business need for providers to better measure costs over the full cycle of patient care. Featuring a new technology platform, an enhanced user interface and a flexible analytics suite, Decision Support Costing and Contracting synthesizes information from the hospital's patient accounting system, enterprise resource planning and other health system data from both inpatient and outpatient settings. The intuitive, Web-based tool is backed by MedAssets extensive healthcare data expertise and superior implementation and planning services designed to support transformational performance improvement.
"Health systems are challenged today with a growing number of regulatory and economic factors that demand access to a consolidated view of financial, administrative and clinical data sources," said Keith Thurgood, president, Spend and Clinical Resource Management, MedAssets. "The new version of Decision Support Costing and Contracting enables providers to synthesize complex sets of data to measure total cost of care at the patient level in support of episodic contracting methodologies and population health management."
The business intelligence embedded in the new version of Decision Support Costing and Contracting provides users with the ability to easily customize and define views of the decision support data based on their specific requirements and needs. Combined with the MedAssets Decision Budgeting and Decision Analytics modules, which were released in 2013, this new suite of healthcare tools provides clients with a comprehensive solution for cost accounting and financial decision support and analysis.
A comprehensive portfolio of analytics and insight
As hospitals contend with increased regulation and public scrutiny, there is increased need for data transparency to support fact-based decisions across multiple constituents across provider organizations. The introduction of the latest version of Decision Support Costing and Contracting builds upon the wide array of proprietary data and analytics tools MedAssets offers to multiple hospital departments and constituents to improve quality of care, efficiency and financial performance. Whether the focus is Cost Analytics for clinical utilization standardization, such as supply and pharmacy spend expense, Revenue Cycle Analytics for sustained margin improvement, Operational Analytics for clinical resource management and strategic planning, or Clinical Analytics to identify risk and savings opportunities related to bundled payments, MedAssets offers business intelligence solutions to help drive decisions that reduce the total cost of care, enhance operational efficiency, align clinical delivery and improve revenue performance.
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 care continuum. For more information, please visit www.medassets.com.