MedAssets and The Resource Group Renew System-Wide Cost Management Relationship
MedAssets and The Resource Group Renew System-Wide Cost Management Relationship
Continued use of Strategic Sourcing and Capital Equipment Solutions to support additional cost reduction
ATLANTA--(BUSINESS WIRE)-- MedAssets (NAS: MDAS) announced today that The Resource Group, a subsidiary of Ascension Health Alliance, signed a contract renewal that continues a long-standing business relationship. This agreement supports The Resource Group's focus on improving financial performance and operational efficiency for the Participants it serves, including all Ascension Health facilities and external organizations, through its logistics, operations, change management and contracting solutions. The strategic relationship between The Resource Group and MedAssets represents a significant component of The Resource Group's contract portfolio.
"We are excited to strengthen our engagement with The Resource Group as they work to continuously improve business operations in support of their core mission of providing care to all with special attention to the poor and vulnerable," said John Bardis, chairman, president and chief executive officer, MedAssets. "Renewing a long-term relationship is the highest affirmation you can receive from any client. It demonstrates perceived value and benefit of our products and customer service."
"Together, The Resource Group and MedAssets can provide a comprehensive and value-driven approach to cost reduction, as well as effective management of resource and supply expenses to the Participants The Resource Group serves," said Scott Caldwell, chief executive officer, The Resource Group. "This agreement enhances The Resource Group's contract portfolio in support of our vision to reduce the unsustainable cost of healthcare. While the relationship between two firms that both represent group purchasing organizations may surprise the industry, the opportunity to collaborate and break down barriers allows both organizations to lower the cost of healthcare."
About Ascension Health Alliance
Ascension Health Alliance is a Catholic healthcare organization dedicated to the transformation of healthcare through excellent clinical care throughout the continuum and through innovation. Its subsidiaries include Ascension Health, the nation's largest Catholic and non-profit health system. Ascension Health provides the highest quality care to all with special attention to those who are poor and vulnerable. Last year Ascension Health provided $1.3 billion in care of persons living in poverty and community benefit programs. Its Mission-focused Health Ministries employ more than 122,000 associates serving in more than 1,400 locations in 21 states and the District of Columbia. Other Ascension Health Alliance subsidiaries focus on service areas including physician services, global mission support, treasury management, innovation acceleration, venture capital investing, and medical engineering.
About The Resource Group
The Resource Group, LLC, a subsidiary of Ascension Health Alliance, is an end-to-end resource and supply management organization that provides GPO services as well as Change Management, Field Operations, Implementation, Logistics and User-Directed Strategic Sourcing Solutions to Participants in its GPO. The Resource Group reduces costs and maintains high quality and service levels for its Participants through dedication to its promises to: Listen First; Contract Second; and Implement Always. The contract portfolio spans all hospital disciplines, including medical/surgical supplies, capital equipment, purchased services, IT, and pharmacy.
About MedAssets
MedAssets (NAS: MDAS) partners with healthcare providers to improve their financial strength by implementing revenue cycle, spend and clinical resource management solutions that help capture revenue, control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency. MedAssets serves more than 4,200hospitals and 100,000non-acute healthcare providers. The company currently manages $48 billion in supply spend and touches over $340 billion in gross patient revenue annually through its revenue cycle solutions. For more information, please visit www.medassets.com.
MDAS/B
MedAssets
Media Contact:
Robin Wrinn, 678-624-7420
rwrinn@medassets.com
or
Investor Contact:
Robert Borchert, 678-248-8194
rborchert@medassets.com
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