Saint Barnabas Health Care System Selects MedAssets as Supply Chain Partner.Business Editors ST. LOUIS--(BUSINESS WIRE)--Feb. 6, 2004 Saint Barnabas Health Care System selected MedAssets HSCA HSCA House Select Committee on Assassinations HSCA Harvard-Smithsonian Center for Astrophysics HSCA Hawaii State Chiropractic Association HSCA Hazardous Substances Control Act HSCA High School Culinary Arts as its exclusive outsourced group purchasing/supply chain services organization. The three-year relationship is effective February 1, 2004. The Saint Barnabas System has an annual supply budget in excess of $670 million and operates a not-for-profit organization of nine acute care hospitals, nine nursing and rehabilitation rehabilitation: see physical therapy. centers, three assisted living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. facilities, ambulatory care centers ambulatory care center Walk-in clinic Medical practice A free-standing facility that provides non-emergent medical, or less commonly, dental services , geriatric geriatric /ger·i·at·ric/ (jer?e-at´rik) 1. pertaining to elderly persons or to the aging process. 2. pertaining to geriatrics. ger·i·at·ric adj. 1. centers, a state wide behavioral health Behavioral health was first used in the 1980's to name the combination of the fields mental health and substance abuse. As an example, an organization serving both mental health and substance abuse clients might refer to its practice as behavioral health or network and comprehensive home care and hospice programs. Robert Carretta, Vice-President of Supply Chain for Saint Barnabas, stated that MedAssets was selected because of its ability to build a customized supply chain program around Saint Barnabas's needs, and for its flexibility to include locally established contracts with MedAssets HSCA's national contract portfolio. "The combination of leveraging MedAssets HSCA's national contract portfolio with Saint Barnabas's local agreements brings choice, a customized fit and of course superior financial value. The ability to help us reduce our costs of physician preference supplies in a way that provides a win for our doctors is tremendous." Carretta continued to explain that MedAssets flexibility allowed a customized supply chain model of vendor contracts to be built around Saint Barnabas's unique supply portfolio to support their clinicians. "MedAssets easily loads in established local contracts and our choices of vendors into our version of the CDQuick(R) e-catalog, which supports our operations. In addition, the financial value provided to Saint Barnabas by the MedAssets relationship is driven entirely by Saint Barnabas's purchasing behavior, not by a collective group of members. We are in control. MedAssets is clearly giving us the opportunity to trade up to a whole new kind of business partner, that takes on accountability for supply chain and is bringing strategic revenue solutions to us through OSI (1) (Open System Interconnection) An ISO standard for worldwide communications that defines a framework for implementing protocols in seven layers. Control is passed from one layer to the next, starting at the application layer in one station, proceeding to the revenue solutions." MedAssets HSCA's President, Rand Ballard, commented, "We are honored to be selected as Saint Barnabas's supply chain and GPO partner. Our business philosophy enables us to provide solutions specific to the needs of Saint Barnabas. We are getting consistent feedback now from the marketplace that our model is needed for today's healthcare systems, where we build a customized, flexible solution to support and drive the customer's unique supply chain strategies and tactics. More than $2.7 billion in annual supply budgets moved to MedAssets since early 2002." Joe Sfara, Senior VP Corporate Sales for MedAssets HSCA commented, "Saint Barnabas is among our nation's elite healthcare systems, and it is an honor to be selected by them. MedAssets is ready to add value to their accomplishments in supply chain management and revenue cycle enhancement. About MedAssets HSCA MedAssets HSCA, headquartered in St. Louis, Mo., is the third largest 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. in the country, serving more than 22,000 healthcare providers nationwide with 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. in excess of $8 billion in gross throughput. It is MedAssets HSCA's mission to be the market-leading, customer-oriented supply chain and contract services company, focused on maximizing the financial performance of healthcare institutions. MedAssets HSCA's parent company, MedAssets of Atlanta, Ga., recently acquired OSI Systems OSI Systems, Inc. (NASDAQ: OSIS) is a worldwide company based in California that develops and markets security and inspection systems such as airport security X-ray machines and metal detectors, medical monitoring and anesthesia systems, and optoelectronic devices. , a leading revenue cycle management company for healthcare providers, enabling cash flow improvement from both revenue and supply cost improvement. For more information about MedAssets HSCA, or its parent company MedAssets Inc., go to www.medassets.com, or contact Gary Johnson Gary Johnson may refer to:
About Saint Barnabas Health Care System The Saint Barnabas Health Care System is New Jersey's largest integrated health care integrated health care, n healthcare services combining the best of conventional and complementary health care. delivery system with over 70 healthcare facilities throughout the state. The Saint Barnabas System provides treatment and services for more than 225,000 inpatients and same day surgery patients, 450,000 Emergency Department patients and 1.5 million outpatients each year, and delivers more than 17,500 babies annually. The Saint Barnabas System includes more than 22,000 employees making it the second largest private employer in the state and 4,750 physicians, representing one-fourth of the total of physicians actively practicing in New Jersey. Its programs and services are nationally recognized. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion