LaserBand Announces GPO Contract with MedAssets Supply Chain Systems for Patient Wristbands.Member Facilities Will Benefit from Cost Savings and Improved Patient Safety ST. LOUIS -- LaserBand, the leading provider of patient identification wristbands and related products, recently signed an agreement for healthcare wristbands and labels with MedAssets Supply Chain Systems, one of the nation's largest group purchasing organizations 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. (GPO). Under the terms of the contract, MedAssets will make LaserBand's wristbands and labels available to its extensive customer base of more than 1,200 hospitals and 30,000 non-acute-care healthcare providers. LaserBand is unique in its industry, holding twice as many patient identification wristband wristband An identifying bracelet attached to a Pt's wrist at the time of admission to a health care facility, which may be the only identifier used during a person's stay in a hospital patents as all competitors combined. No other manufacturer can offer a complete cross-platform (software, hardware) cross-platform - A term that describes a language, software application or hardware device that works on more than one system platform (e.g. Unix, Microsoft Windows, Macintosh). E.g. Netscape Navigator, Java. product line that works with all existing patient ID technologies and includes water-and alcohol-resistant, self-laminating wristbands, for maximum protection of critical patient data. In addition, LaserBand offers both laser-printed and thermal-printed wristbands for compatibility with existing technology. In announcing the agreement, LaserBand President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Sanjay Jain said, "LaserBand products are used to protect millions of patients worldwide each year, largely due to our commitment to mistake-free patient care, our unparalleled research and development program, and our focus on building strong customer relationships. LaserBand's new partnership with MedAssets has the potential to extend the benefits of improved safety and comfort to millions more patients in healthcare facilities across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. ." The new agreement is expected to ease implementation and improve workflow The automatic routing of documents to the users responsible for working on them. Workflow is concerned with providing the information required to support each step of the business cycle. of MedAssets members' patient identification processes while improving the safety and comfort of patients. Also, MedAssets member facilities will continue to enhance their operating margins Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: and cash flow by leveraging one of the nation's largest GPOs. The terms of the contract make LaserBand's complete line of cross-platform products available to MedAssets' hospital and IDN (Internationalized Domain Name) A .com or .net domain name that is represented in non-English characters and symbols, with .com and .net appended at the end in English letters. GPO customers through December 31, 2012. About LaserBand: Dedication to providing the best possible patient identification solutions has made LaserBand the industry leader in research and development. LaserBand's easy-to-implement, cost-effective cost-effective, n the minimal expenditure of dollars, time, and other elements necessary to achieve the health care result deemed necessary and appropriate. patient ID wristbands and labels are used worldwide by healthcare facilities that demand state-of-the-art patient identification that maximizes comfort and safety. Additional information can be found at www.laserband.com or by calling 800-238-0870. About MedAssets: MedAssets partners with hospitals and health systems to enhance their financial strength through improved operating margins and cash flow. Its GPO services aim to improve purchasing efficiency with a complete contract portfolio of quality, cost-effective products from the nation's leading manufacturers and distributors. Additional information can be found at www.medassets.com. |
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