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MedAssets Net Revenue Systems Introduces Medgician(R) Online; Chargemaster Software Designed Exclusively for Small, Stand-Alone Community Hospitals and Critical Access Hospitals

Posted on: Wednesday, 17 May 2006, 15:03 CDT

MedAssets Net Revenue Systems announced today at the World Research Group Pricing and Chargemaster Summit in Las Vegas the release of Medgician(R) Online, a cost-effective and powerful web-based chargemaster maintenance tool designed for small Community and Critical Access Hospitals. Medgician(R) Online identifies missing charges, reduces denials and billing errors, and improves the timeliness of chargemaster updates. The product will be available to customers June 1.

"Medgician(R) Online is a web-enabled version of Medgician(R), our proven installed version of the chargemaster software," stated Mark Boudreaux, director, chargemaster products, MedAssets Net Revenue Systems. "The web version eliminates any outlay for hardware and software, lowers the cost of ongoing maintenance, and can be implemented very quickly."

Key Features of Medgician(R) Online include:

-- Warnings and alerts specific to Hospital, Clinic, DME, CAH, and ASC provider settings

-- Robust reporting and flexible filters

-- CDM Dashboard indicators

-- Embedded references and source documents

-- Wage-adjusted Medicare fee schedules and pricing benchmarks

-- Integrated Request Tracking and Management System

-- Permanent audit histories of changes

-- Consultative support included with the subscription

-- Standard CDM exports of CDM modifications

Medgician(R) Online is also integrated with MedAssets' KnowledgeMaster or optional KnowledgeMaster Plus chargemaster best practices, benchmarking and regulatory research tool.

"KnowledgeMaster is a comprehensive resource for hospitals to help facilitate a culture of compliance," stated David Evans, senior vice president, MedAssets Net Revenue Systems. "The tool eliminates the cost of third-party content and is the ideal resource for setting up and pricing new clinical services and keeping abreast of regulatory changes."

Key features of KnowledgeMaster and/or KnowledgeMaster Plus, powered by MediRegs, include:

-- Pricing benchmarks for over 95 percent of all clinical services - including supplies and pharmaceuticals

-- Links between HCPCS and medical devices

-- Links between NDC, charging levels and HCPCS

-- Fiscal intermediary-specific coding recommendations

-- APC and DRG reimbursement information

-- Indexed searches of hundreds of regulatory documentations including federal register, transmittals, NCDs and LCDs

-- Customizable content and alerts

-- Pharmacy multipliers

-- Chargeable and non-chargeable indicators

For more information about MedAssets Net Revenue Systems, visit: www.medassets.com. or view a short video by visiting http://nrs.medassets.com/NRS/OvrvwVideo.htm.

About MedAssets

MedAssets, headquartered in Atlanta, Georgia, improves healthcare providers' margin and cash flow through revenue cycle and supply chain initiatives and 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 defensible 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.

Source: Business Wire

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