• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Akron Children's Hospital Selects MedAssets for Supply Chain Solutions

Posted on: Monday, 25 July 2005, 15:00 CDT

Akron Children's Hospital, based in Akron, Ohio, has selected MedAssets to implement supply chain solutions. Akron Children's Hospital, a Child Health Corporation of America shareholder, has a total annual expenditure for supplies of more than $35 million. The multi-year relationship is effective October 1.

Akron Children's Hospital is the largest pediatric care provider in Northeast Ohio. It cares for approximately 400,000 patients each year and performs more pediatric surgeries than any other hospital in Northeast Ohio. Akron Children's operates as a full-service, 253-bed pediatric hospital and houses a regional burn trauma center for both adults and children, as well as a pediatric trauma center. It also offers more than 100 advocacy, education, outreach and research programs.

The new agreement provides Akron Children's Hospital access to MedAssets' comprehensive contract portfolio and supply chain technology. "MedAssets' supply chain technology is one of the most important reasons we made this major change," said Lin Gentile, vice president at Akron Children's Hospital. "Through Strategic Information reporting, the hospital will be able to audit transactions to find off-contract spending, pricing variances and incorrect supply amounts."

Akron Children's Hospital will utilize a custom catalog, which incorporates existing local and regional contracts as well as MedAssets' national contract portfolio allowing the facility to maintain those agreements that offer the lowest price for supply items.

"MedAssets' goal is to help our customers find more efficient and cost effective ways to run their business," stated Rand Ballard, president, MedAssets Supply Chain and Business Services Group. "We have developed products and services that will automate manual processes, reduce errors, and ultimately funnel more cash to the bottom line, so providers can continue providing excellent patient care."

About Akron Children's Hospital

In 2003, Akron Children's Hospital was ranked one of the best children's hospitals in the country by Child magazine for the second year. Founded in 1890 as a two-room nursery, Akron Children's has developed into a full-service pediatric medical center for children from birth through adolescence, as well as burn victims of all ages. Today, Akron Children's serves a population of 2.5 million in northeastern Ohio, which represents nearly one of every 100 children nationwide. Innovative programs and state-of-the-art facilities are combined at Akron Children's Hospital to provide quality health care to children and families in Northeast Ohio.

About MedAssets

MedAssets, headquartered in Atlanta, Georgia, improves healthcare providers' margin and cash flow through revenue cycle and supply chain initiatives. As a strategic business partner, MedAssets can replace multiple vendors and decrease supply costs by 3-10 % and increase net patient revenue by 1-3 %. Proprietary information technology is used to work with and improve existing IT assets and work processes. MedAssets, through its revenue cycle subsidiary MedAssets Net Revenue Systems, provides best-of-breed revenue solutions including strategic pricing, pre-bill charge capturing, and ongoing chargemaster management tools, all of which have been Peer Reviewed by the Healthcare Financial Management Association. In addition, MedAssets offers the only technology enabled system that links supply cost data with charge data to ensure accurate charges and defendable markups for all patient identifiable supplies, including costly medical devices. MedAssets, through its supply chain subsidiary MedAssets Supply Chain Systems, operates the fastest growing group purchasing organization and supply chain services company in the U.S. and builds customized solutions encompassing procurement of common medical supplies, pharmaceuticals, physician preference supplies, food and nutrition items, and capital equipment.

MedAssets serves more than 22,000 healthcare providers nationwide through its revenue cycle and supply chain operations including Atlantic Health System (New Jersey), Banner Health (Arizona), Bon Secours Health System (Maryland), Charleston Area Medical Center (West Virginia), Christiana Care Health System (Delaware), Inova Health System (Virginia), Main Line Health (Pennsylvania), North Mississippi Health Services, Rush System for Health (Illinois), St. Joseph Health System (California), Saint Barnabas Health Care System (New Jersey), The University of North Carolina Health Care System, University of Pittsburgh Medical Center (Pennsylvania), University of Rochester Medical Center (New York), and many others. For more information about MedAssets go to www.medassets.com or contact Gary Johnson, vice president of Marketing and Marketing Services, 100 North Point Center East, Suite 200, Alpharetta, GA 30022.

Source: Business Wire

More News in this Category