Consorta Joins Forces with MedAssets Analytical Systems to Decrease Costs and Improve Efficiencies for its Members.SCHAUMBURG, Ill. -- Consorta, Inc., a leading healthcare group purchasing and resource management organization, and MedAssets, Inc., a cash flow improvement company, today announced they have entered into an agreement to provide Consorta shareholders and participants nationwide with MedAssets Analytical Systems' supply chain management services and technology. MedAssets Analytical Systems tools will offer Consorta and its members increased transparency into their supply chain operations in order to enhance decision making, improve contract compliance, and aid Consorta in attracting new shareholders. The agreement is effective February 1, 2007. "Our new relationship with MedAssets Analytical Systems will greatly benefit our shareholders and Consorta," said, Joseph Ciccolo, Senior Vice President, Support Services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , Caritas Christi Health Care System and member of Consorta's Executive Committee. "It will not only help us meet our system's goals to reduce supply chain costs by rendering our spend data in a more usable and actionable state, but it will also assist Consorta in developing a program that the shareholders view as essential for Consorta's continued success and growth." MedAssets Analytical Systems' Strategic Information Services See Information Systems. aggregates, normalizes and analyzes supply chain data from single or multiple facilities and provides greater transparency and control of the total supply spend. Information is compiled and provided in actionable formats such as opportunity analyses and executive summaries to clearly identify specific courses of action. Strategic Information monitors and maintains the accuracy and compliance levels of Consorta's national group purchasing and members' locally negotiated contracts. Additionally, on an "as-requested" basis, MedAssets Analytical Systems' Client Item File Services can be engaged to assist in standardization and maintenance of individual shareholders' supply item files. "The objective of the MedAssets and Consorta collaboration is to help our shareholders and their members reach their savings goals faster," explained Anna Fox, Vice President, Contract Operations and Data Management at Consorta. "Without tools and processes to normalize normalize to convert a set of data by, for example, converting them to logarithms or reciprocals so that their previous non-normal distribution is converted to a normal one. spend data, it becomes nearly impossible to identify timely opportunities. By offering established and proven supply chain services and technology to our members, we will increase contract compliance and capture the fees and rebates that are owed to our shareholders." Fox added that "Consorta performed significant due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. to identify the right technology partner, and at the conclusion a decision was made to align with MedAssets Analytical Systems." "We are pleased to work with Consorta in providing our supply chain technology and services to its member facilities," stated Mike Cassady, president, MedAssets Analytical Systems. "The efficiencies and transparency created with our tools will directly and positively impact the bottom line of the individual facilities, and in turn, positively affect the entire Consorta organization." About MedAssets MedAssets partners with healthcare providers to improve operating margins and cash flow while supporting quality of care goals. MedAssets implements integrated solutions to address the greatest opportunities for financial and process improvement and drives performance in revenue cycle, supply chain and clinical service line management. MedAssets is a business partner to more than 2,400 hospitals and 25,000 non-acute care healthcare providers. For more information, go to www.medassets.com. About Consorta Consorta, based in suburban Chicago, is a leading healthcare resource management and group purchasing organization A group purchasing organization is an entity that leverages the purchasing power of a group of businesses to obtain discounts from vendors based on the collective buying power of the GPO members. Many GPOs are funded by administrative fees that are actually paid by the vendors. whose shareholders are faith-based or non-profit health systems. Consorta's 12 shareholder healthcare systems are among the leading integrators of non-profit healthcare in America. Consorta's membership now encompasses more than 3,280 care sites, including more than 530 acute care and over 250 extended care facilities throughout the country. Consorta provides contract purchasing power Purchasing Power 1. The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. 2. for some of the nation's leading non-profit organizations, including America's Blood Centers, the American Red Cross American Red Cross: see Red Cross. , the American Heart Association American Heart Association (AHA), n.pr a national voluntary health agency that has the goal of increasing public and medical awareness of cardiovascular diseases and stroke, and thereby reducing the number of associated deaths and disabilities. , America's Promise, Camp Fire USA
Camp Fire USA is a nationwide youth organization that began on March 17, 1910 as Camp Fire Girls. The organization has been co-ed since 1975 and has youth from pre-kindergarten through age 21. , Catholic Charities USA, Girls Incorporated, Lutheran Services in America Lutheran Services in America (LSA) is a not-for-profit corporation that coordinates the work of nearly 300 independent Lutheran social ministry organizations affiliated with the Evangelical Lutheran Church in America or recognized by The Lutheran Church-Missouri Synod. , National Council on Aging, National Mental Health Association, Salvation Army, Save the Children Foundation, United Way of America United Way of America: see community chest. and YWCA YWCA abbr. Young Women's Christian Association YWCA n abbr (= Young Women's Christian Association) → Asociación f de Jóvenes Cristianas YWCA USA. Consorta, Inc. is located at 1475 E. Woodfield Road, Suite 400, Schaumburg, Illinois 60173. Phone (847) 592-7800, Fax: (847) 592-7801. Website: www.consorta.com. |
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