MedAssets to Provide Revenue Solutions to University of North Carolina Health Care System; UNC HCS Deepens its Partnership with MedAssets.ATLANTA -- MedAssets Net Revenue Systems announced today that it has entered into a six-year agreement to implement its suite of revenue cycle tools with The University of North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. Health Care System (UNC (Universal Naming Convention) A standard for identifying servers, printers and other resources in a network, which originated in the Unix community. A UNC path uses double slashes or backslashes to precede the name of the computer. HCS HCS - Heterogeneous Computer System A distributed system project. ). MedAssets Net Revenue Systems' suite of products includes BPI.Net, a chargemaster maintenance and monitoring tool; CCA (1) (Common Cryptographic Architecture) Cryptography software from IBM for MVS and DOS applications. (2) (Compatible Communications A .Net Pre-bill, a charge capture audit tool; and CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. .Net, a price modeling tool. The Healthcare Financial Management Association (HFMA HFMA Healthcare Financial Management Association HFMA Hawaii Food Manufacturer's Association ) recently examined these products, and after rigorous review, awarded them the notable "Peer Reviewed by HFMA" mark. MedAssets' charge capture auditing tool, CCA.Net Pre-bill, reviews 100% of detailed patient bills to identify missed charges and overcharges on a pre-bill basis. The strategic pricing tool, CRM.Net, ensures defendable and compliant pricing of services. The chargemaster monitoring and maintenance tool, BPI.Net, maintains the integrity of charge data. MedAssets Net Revenue Systems' products will work with and improve upon UNC's existing IT systems. The agreement was effective August 2004. UNC HCS selected MedAssets Supply Chain Systems as its partner for supply chain management and purchasing solutions in a five-year agreement that took effect in June of 2004. With the announcement of the new revenue solutions agreement, MedAssets will provide UNC HCS with a complete enterprise solution including a revenue cycle tool suite, supply contract portfolio, custom catalog, master item file services, and strategic information technology. "When we first selected MedAssets as a business partner we were impressed by their ability to manage all of our supply chain initiatives across multiple facilities," said Jeff Yardley, purchasing manager, UNC HCS. "But as we began to learn more about the revenue cycle tool suite, we were intrigued by MedAssets' ability to help us improve net patient revenue, increase cash flow and reduce bad debt through a system-wide effort. We want to use it, in part, to more easily and accurately comply with all the complex idiosyncrasies of different payers." About MedAssets MedAssets, headquartered in Atlanta, Georgia, improves healthcare providers' margin and cash flow through revenue cycle and supply chain initiatives. 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 %. Proprietary information technology is used to work with and improve existing IT assets and work processes. MedAssets, through its revenue cycle subsidiary MedAssets Net Revenue Systems, provides best-of-breed revenue solutions including strategic pricing, pre-bill charge capturing and auditing, and ongoing chargemaster management tools, all of which are Peer Reviewed by the Healthcare Financial Management Association. MedAssets, through its supply chain subsidiary MedAssets Supply Chain Systems, operates the fastest growing 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. and supply chain services company in the U.S. and builds customized solutions encompassing procurement of common medical supplies, pharmaceuticals, physician preference supplies, and capital equipment. MedAssets serves more than 22,000 healthcare providers nationwide through its revenue cycle and supply chain operations including Atlantic Health System (New Jersey), Banner Health (Arizona), Bon Secours Health System (Maryland), Charleston Area Medical Center Charleston Area Medical Center (CAMC) is the name of a complex of hospitals in Charleston, West Virginia, formed via a merger of previously independent facilities. It is the state's largest hospital. (West Virginia), Christiana Care Health System (Delaware), Inova Health System Inova Health System is a non-profit health organization based in Northern Virginia, USA. Hospitals under Inova provide most of the healthcare needs for citizens in Northern Virginia. The flagship hospital, Inova Fairfax Hospital, has won acclaims as one of the best hospitals in the nation. (Virginia), North Mississippi Health Services health services Managed care The benefits covered under a health contract , Rush System for Health (Illinois), St. Joseph Health System (California), Saint Barnabas Health Care System (New Jersey), The University of North Carolina Health Care System, University of Pittsburgh Medical Center The University of Pittsburgh Medical Center (UPMC) is a leading American healthcare provider and institution for medical research. It consistently ranks in US News and World Report's "Honor Roll" of the approximately 15 best hospitals in America. (Pennsylvania), University of Rochester Medical Center The University of Rochester Medical Center (URMC), located in Rochester, New York, is one of the main campuses of the University of Rochester and comprises the university's primary medical education, research and patient care facilities. (New York), and many others. For more information about MedAssets go to www.medassets.com or contact Gary Johnson, vice president of Marketing and Marketing Services, 100 North Point Center East, Suite 200, Alpharetta, GA 30022. About The University of North Carolina Health Care System The UNC Health Care System is a not-for-profit integrated health care integrated health care, n healthcare services combining the best of conventional and complementary health care. system, owned by the State of North Carolina and based in Chapel Hill. The UNC Health Care System acquired Rex Healthcare in Raleigh, NC in April, 2000. UNC HCS exists to further the teaching mission of the University of North Carolina and to provide state-of-the-art patient care. A distinguishing characteristic of UNC Health Care System is its association with the UNC-Chapel Hill School of Medicine, a nationally eminent research institution. This relationship gives The UNC Health Care System a powerful pathway for moving the results of biomedical research from medical school laboratories to patient care settings UNC HCS' annual supplies, services and capital equipment purchasing volume exceeds $ 200 million. UNC HCS consists of two healthcare facilities, Rex Healthcare in Raleigh and UNC Hospitals in Chapel Hill, and provides comprehensive healthcare services including physician practices, laboratories, home health and hospice services. Rex Healthcare is a 394-bed tertiary care facility. UNC Hospitals is a 688-bed, academic teaching facility and tertiary care trauma center. |
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