ATLANTA, Aug. 4, 2014 (GLOBE NEWSWIRE) -- In response to recent polling conducted by MedAssets (Nasdaq:MDAS) indicating nearly 40 percent of health system C-suite executives find cost reduction strategies a top priority, the company will showcase its full suite of solutions designed to reduce the total cost of care at the AHRMM14 Annual Conference, August 3-6 in Orlando (Booth #601). A primary goal of the company's comprehensive, performance-based portfolio is to optimize cost management performance, analyze utilization and performance, and reduce non-labor expense, all of which are key to achieving operational excellence and sustainable performance improvement.
"In this era of healthcare reform, providers are seeking innovative, non-traditional methods of supply cost reduction to establish a sustainable cost structure," said Keith Thurgood, president, Spend and Clinical Resource Management, MedAssets. "We take a clinically driven approach to providing healthcare providers with an effective combination of consulting services, automation and technology to improve quality of patient care and reduce the cost of care delivery. MedAssets has systematically broadened its portfolio beyond a focus on purchasing and price, the traditional methods of supply chain cost reduction, to offer healthcare providers a big unlock to the untapped potential in savings including building a clinically-aligned supply chain, procurement process improvement and optimized labor performance, the latter of which typically represents half of a hospital's expense."
Progressive Solutions to Drive Total Cost Reduction
As healthcare expenditures are projected to grow at six percent annually by 2022, MedAssets solutions are designed to help clients streamline workflow processes, improve contract compliance, achieve greater data transparency and surpass best-in-class cost management. Solutions on display at AHRMM14 include:
- Procure-to-Pay Solutions – designed to automate back office functions, enhance visibility into all areas of supply spend, reinforce contract compliance and identify pricing errors at point of purchase and invoice. Join Bejan Shamsy, vice president, Procure-to-Pay Solutions, MedAssets, from 3:30-4:00 p.m. on Monday, Aug. 4 in Learning Pavilion 1 (inside the Exhibit Hall) to learn best practices for procurement optimization.
- Supply Chain Solutions – comprehensive consulting and management services to help lower supply costs and align clinician accountability
- Strategic Sourcing – a national contract portfolio that helps providers exceed cost reduction goals by leveraging national purchasing volume through a strategic, analytical and clinician-led approach
- Purchased Services – solutions to provide transparency, streamline complexity and reduce total cost of operational support services spend – a largely unmanaged expense category across health systems
- Cost, Clinical and Operational Analytics – business intelligence tools designed to help connect the dots between cost, utilization and outcomes
MedAssets to Present at AHRMM14 Learning Labs
In addition to exhibiting at the annual conference, MedAssets subject matter experts will also be speaking during three learning labs:
- Monday, Aug. 4, 11:15 a.m.-12:15 p.m.: "Controlling Spine Fusion Costs - A Pain In The Neck or Reasonable?"
Beth Graefe, senior vice president, Advisory Solutions, MedAssets, will outline how one hospital in San Angelo, TX, engaged spine surgeons to develop strategies to drive down implant costs and how physicians evaluated costs associated with spine fusion care.
- Monday, Aug. 4, 4:15-5:15 p.m.: "Creating a Proactive Capital Procurement Process"
Matt Turman, director, Capital and Construction Solutions, MedAssets, will provide supply chain leaders with effective strategies to proactively engage in the capital process to create and maintain an ideal state, ensuring effective and efficient processes and reduced cost.
- Tuesday, Aug. 5, 4:00-5:00 p.m.: "Strategies for Smarter Supply Chain Operations"
Jan Burda, senior director, Consulting, MedAssets and Rachel Martin, director, Supply Chain, MedAssets, will discuss how to develop a supply chain strategic plan and articulate that plan throughout hospitals and health systems.
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.