Published: 2010-03-02 19:30:31
Author: MedAssets, Inc. | February 18, 2010
ATLANTA, Feb 18, 2010 (BUSINESS WIRE) -- MedAssets, Inc. (MDAS 21.55, +0.03, +0.14%) announced today that Hays Medical Center of Hays, Kan., has expanded its use of MedAssets' revenue cycle management solutions to further improve its financial performance. Building on its successful relationship since 2003, Hays Medical Center, a customer of MedAssets' charge and reimbursement integrity solutions has recently added MedAssets' revenue recovery services to improve its net revenue collections. Hays also selected MedAssets' CrossWalk(R) solution, which is proven to improve charge integrity, compliance and pricing defensibility, saving hospitals millions in lost charges by linking supply chain and revenue cycle information through the item master and charge description master. With CrossWalk, Hays Medical Center has immediately identified $1.2 million in net revenue improvement in just two months.
As a customer of MedAssets' integrated Charge Capture Audit and Claims Management solutions, the hospital has been able to detect and resolve missing charges before a claim is billed through an integrated, customized workflow. As a result, Hays Medical has realized accelerated payments, as they are able to identify and resolve charge issues faster. The integrated workflow ensures that Hays Medical delivers a complete and compliant bill in a timely manner. By using Charge Capture Audit, the hospital has captured more than $280,000 in missing revenue in just one year.
"We've been impressed with the way MedAssets' solutions have enhanced our operations at Hays Medical Center," said Bill Overbey, chief financial officer of Hays Medical Center. "In addition to improved cash flow, the solutions also help our staff improve their visibility into every aspect of our revenue cycle, which has increased our efficiency and overall A/R management. We see MedAssets as a true financial improvement partner across our entire revenue cycle."
Rand Ballard, MedAssets' chief operating officer and chief customer officer, stated, "We have enjoyed a long, productive relationship with Hays Medical Center, which benefits from multiple MedAssets' best of breed solutions across the entire revenue cycle. Hays Medical Center sees value in the integration of revenue cycle management solutions to streamline its efforts and drive financial improvement throughout the organization."
About MedAssets
MedAssets /quotes/comstock/15*!mdas/quotes/nls/mdas (MDAS 21.55, +0.03, +0.14%) partners with healthcare providers to improve their financial strength by implementing 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 Hays Medical Center
Hays Medical Center, a 207-bed facility with annual net patient revenue of $165 million, provides the only tertiary level services in its region.
SOURCE: MedAssets, Inc.
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