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MedAssets Supply Chain Systems and DoctorsManagement Join Forces to Increase Revenue and Decrease Costs for Practices of Physicians and Dentists

Posted on: Tuesday, 28 March 2006, 09:01 CST

MedAssets Supply Chain Systems announced today an agreement with DoctorsManagement, a company headquartered in Knoxville, Tenn. specializing in business management for physician and dental practices.

The relationship between the two companies is two-fold. As MedAssets' customers, clients of DoctorsManagement, including 800 medical and dental practices nationwide, will benefit from cost savings derived through the DoctorsManagement Power Buying Program. The Power Buying Program gives medical and dental practices access to MedAssets' group purchasing contracts. Through a vendor relationship, MedAssets' customers will also have access to DoctorsManagement's full range of practice management services through a MedAssets' contract. The multi-year agreement was effective October 28, 2005.

DoctorsManagement offers a full range of services offered either through total practice management (Easy Management System), or by individualized services dependent on the need of the practice. Services may include accounting, business development, coding, human resources, managed care, compliance in HIPAA, OSHA, and laboratory, customer care, marketing, and the Power Buying Program.

"MedAssets' hospital customers now have access to practice management services at a discounted rate," stated Paul King, president, DoctorsManagement. "By managing the total business function of a practice, or focusing on a particular problem area in the business, we allow the physician or dentist to focus more on patient care rather than the hassles of running a business."

The Power Buying Program is designed to reduce costs on the supplies and business services typically purchased by a medical or dental practice.

"By utilizing MedAssets' group purchasing contracts through the Power Buying Program, physicians and dentists can be assured they are saving money on purchases for common medical and dental supplies, office supplies, business services, pharmaceuticals, and even capital equipment," stated Gary Green, senior vice president, MedAssets Supply Chain Systems. "Our agreement with DoctorsManagement alleviates concerns of physicians and dentists about managing multiple supply agreements and getting the best price for products and services. The Power Buying Program provides pricing to the individual medical or dental practice that would otherwise be unavailable to them."

"Both DoctorsManagement and MedAssets' missions are to improve the financial health of healthcare providers by reducing costs and increasing revenue so they can focus on delivering high quality patient care," stated King. "Our relationship with MedAssets as a customer and a vendor will benefit medical and dental practices nationwide - not only financially, but clinically as well."

For more information about DoctorsManagement and MedAssets, visit www.drsmgmt.com and www.medassets.com.

About MedAssets

MedAssets, headquartered in Atlanta, Georgia, improves healthcare providers' margin and cash flow through revenue cycle and supply chain initiatives as well as decision support technology and services. 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 %. MedAssets Net Revenue Systems provides best-of-breed revenue solutions including strategic pricing, charge capturing, and ongoing chargemaster management tools, all of which have been Peer Reviewed by the Healthcare Financial Management Association. MedAssets Net Revenue Systems also offers denials management and a tool to link supply cost data with charge data. MedAssets Supply Chain Systems is one of the fastest growing group purchasing organization 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. The newly formed MedAssets Analytical Systems offers supply chain analytics and decision support tools while clinical and operational consulting services are provided through MedAssets' subsidiary, Aspen Healthcare Metrics. Avega Health Systems, a subsidiary of MedAssets, ranked "Best in KLAS" in Business Decision Support - KLAS Enterprises, LLC 2005. For more information about MedAssets go to www.medassets.com or contact Gary Johnson, corporate senior vice president of Marketing and Marketing Services, 100 North Point Center East, Suite 200, Alpharetta, GA 30022.

About DoctorsManagement

Celebrating their 50th anniversary, DoctorsManagement has helped physicians and dentists nationwide with practice management since 1956. Physicians and dentists remain in complete control of their practice and profits while gaining freedom from administrative and operational tasks.

DoctorsManagement offers comprehensive practice management as well as individual services in specialty departments including:

-- Coding and Revenue Enhancement

-- Marketing

-- Customer Service/Team Building

-- Human Resources

-- Managed Care

-- Accounting

-- Retirement Planning

-- OSHA

-- CLIA

-- Laboratory and Ancillary Services

-- HIPAA

-- Technical Imaging

-- Facility Development

-- Power Buying Program

For more information about DoctorsManagement, visit www.drsmgmt.com or contact Bill Bristow, Senior Vice President, at bbristow@drsmgmt.com, or at 1-800-635-4040.

Source: Business Wire

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