MedAssets Signs Agreement With West Tennessee Healthcare For Supply Cost Management Services
ATLANTA--(BUSINESS WIRE)--MedAssets, Inc. (NASDAQ: MDAS - News) announced today that West Tennessee Healthcare, located in Jackson, TN, signed an agreement with MedAssets for supply chain management services. The five-year deal is effective September 1, 2008.
West Tennessee Healthcare is a public, not-for-profit healthcare system dedicated to serving its surrounding communities throughout 18 counties. West Tennessee Healthcare provides a full compendium of care from its six member facilities including its flagship hospital, Jackson-Madison County General Hospital with 635 licensed beds.
Through financial savings and improved purchasing efficiency delivered by MedAssets supply chain management products and services, West Tennessee Healthcare seeks to expand its philanthropic stewardship to strengthen the health of its surrounding communities. Through grants, free services, community partnerships, and the West Tennessee Healthcare Foundation, projects and services have been implemented to give back to the community it serves. At the 2007 West Tennessee Health Fair, more than 4,000 laboratory and clinical screenings were performed free of charge to the public. Each year, West Tennessee Healthcare devotes approximately $300,000 in sponsorships of community events and services.
"We are pleased with our agreement," commented Tom Fendley, director of Materials Management for West Tennessee Healthcare, "and we believe it will help us to increase the financial value of our GPO relationship by joining MedAssets."
MedAssets will provide GPO services to enhance purchasing efficiency with a complete contract portfolio of quality, cost-effective products from the nation's leading manufacturers and distributors. Services will include CDQuick® Custom to optimize system-wide supply chain performance by documenting contracts for all programs in a searchable, web-delivered tool. Strategic Information services will be implemented to identify savings opportunities with greater data transparency in supply chain spend. MedAssets will also provide its Physician Preference Item (PPI) cost reduction services.
Rand Ballard, chief operating officer and chief customer officer, MedAssets, Inc. stated "We are committed to helping West Tennessee Healthcare achieve not only their financial goals, but also, their quality of care and community stewardship initiatives. West Tennessee Healthcare chose MedAssets to help them reduce the cost of supplies and provide transparency, financial compliance and audit tools for their supply chain management team to optimize and redirect their resources to the benefit of their surrounding communities."
MedAssets' mission is to improve the financial health of healthcare providers so they can continue to provide the highest quality of care in their communities.
About MedAssets
MedAssets (NASDAQ: MDAS - News) partners with healthcare providers to improve their financial strength by implementing integrated spend management and revenue cycle solutions that help control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency. MedAssets serves more than 125 health systems, 3,300 hospitals and 30,000 non-acute care healthcare providers. For more information, visit www.medassets.com.
About West Tennessee Healthcare
Anchored by 635-bed Jackson-Madison County General Hospital, West Tennessee Healthcare meets the healthcare needs of more than 500,000 persons residing in West Tennessee. Owned by the people of Jackson and Madison County, Tennessee, it is a not-for-profit entity. Jackson-Madison County General Hospital is currently home to five "Centers of Excellence" in healthcare: Tennessee Heart Center, West Tennessee Cancer Center, Emergency Service, Women and Children's Center, and West Tennessee Rehabilitation Center. It has just completed the building of a new, state-of-the-art patient care tower. Five other affiliate hospitals operate under the West Tennessee Healthcare name: Bolivar General Hospital, Camden General Hospital, Gibson General Hospital, Humboldt General Hospital, and Milan General Hospital.
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