Erlanger Health System Signs Agreement with MedAssets for Revenue Cycle Management, Supply Chain Solutions.
Erlanger, a current user of MedAssets chargemaster monitoring and maintenance technology, is expanding its use of MedAssets Net Revenue Systems solutions to further improve revenue and set defensible, compliant pricing strategies. Under the new agreement, Erlanger will utilize MedAssets' charge capture auditing and rate modeling tools as well as the CrossWalk(TM) technology, which links supply cost data to charge data and updates the information continuously and automatically.
Through MedAssets Supply Chain Systems, Erlanger Health System will have access to a comprehensive contract portfolio. Formerly a primary affiliation of Novation, Erlanger, has a total supply spend of $68 million and total operating revenue of $457 million. MedAssets Analytical Systems' supply chain technology and services will cleanse, normalize, and aggregate Erlanger's procurement data to enhance analytical capabilities and improve decision making.
"Expanding our relationship with MedAssets will help us achieve our goal of improving cash flow through operational and clinical efficiency," said Britt Tabor, chief financial officer, Erlanger Health System. "Incorporating these additional technologies and services will ensure we are better prepared to meet the healthcare needs of the communities we serve."
"Erlanger Health System will derive added value from expanding its use of revenue solutions and utilizing supply chain technology and services," said Rand Ballard, chief operating officer, MedAssets, Inc. "With better data on both sides of the equation because of the CrossWalk linkage, they will be able to implement more accurate pricing strategies as well as manage costs more effectively for overall financial improvement."
For more information about MedAssets, visit www.medassets.com.
MedAssets, headquartered in Atlanta, Georgia, improves healthcare providers' margin and cash flow through revenue cycle and supply chain initiatives as well as 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, pre-bill 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 organizations 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.
About Erlanger Health System
The Erlanger Health System, headquartered in Chattanooga, Tennessee, is comprised of five campuses serving residents living within a 150-mile radius of Chattanooga, primarily in Tennessee, Georgia and Alabama. The Erlanger Baroness Campus, at 975 E. Third Street in Chattanooga, is the largest of the five campuses and considered the regional hub. Among the leading services at the Baroness Campus is a Level 1 Trauma Center for adults (providing the region's highest level of trauma care), an academic teaching affiliation with the University of Tennessee College of Medicine, the LIFE FORCE air ambulance program, equipped with two Bell 412 aircraft, the region's only Burn and Neuro-Ortho ICU, Emergency Heart and Stroke Center, kidney transplant program and only tertiary Level III Care Center for high-risk obstetrics.
The Erlanger Health System also includes T.C.Thompson Children's Hospital, which offers the region's only pediatric emergency center and trauma team, only Pediatric Intensive Care Unit, only Level III Neonatal Intensive Care Unit, only Pediatric Surgery Center and only Comprehensive Cancer and Blood Disorders Center.
Other campuses are Erlanger East/Erlanger Women's East, Erlanger North and Erlanger Bledsoe, located in Pikeville, Tenn.