Sep 12 2011
MedAssets (NASDAQ: MDAS) today announced that long-time customer CHRISTUS Health, a Catholic, faith-based, not-for-profit health system headquartered in Irving, Texas, recently elected to renew its Spend and Clinical Resource Management relationship with the company.
“MedAssets has exceeded its financial improvement commitments to our organization, and we are confident its innovative supply chain management solutions can continue to support us in uncovering more saving opportunities”
"MedAssets has exceeded its financial improvement commitments to our organization, and we are confident its innovative supply chain management solutions can continue to support us in uncovering more saving opportunities," said Paul Generale, vice president and senior financial officer, CHRISTUS Health. "We look forward to exploring the company's other operational and consulting services to further increase the value of care we provide through decreased supply expense."
CHRISTUS Health and MedAssets partner to exceed target savings
MedAssets supported CHRISTUS Health to realize a total of $62 million in supply chain savings over the past two years. Through a combination of the company's strategic sourcing and outsourcing services, CHRISTUS Health achieved a total of $34 million in documented savings in 2010—$4 million above its fiscal year target. In 2011, CHRISTUS Health reached $28 million in savings, exceeding its savings target by $3 million.
"As one of the largest provider-focused cost management companies, MedAssets delivers an effective combination of expert operational and consulting services backed by a leading edge group purchasing organization," said Rand Ballard, chief operating officer and chief customer officer, MedAssets. "CHRISTUS is among our many satisfied clients that we supported in realizing and exceeding their savings targets. This agreement exemplifies why MedAssets enjoys a high customer retention rate."
CHRISTUS Health also uses MedAssets Revenue Cycle Technology solutions to further increase net revenue, increase cash flow and identify new areas of financial improvement.