Centegra Health System Engages MedAssets for Total Cost Management
Joins Growing List of Provider Organizations Seeking Company’s Expertise to
Accelerate Cost Reduction Strategies and Improve Operational Efficiencies
ATLANTA -- March 26, 2013
MedAssets (NASDAQ: MDAS) today announced that Centegra Health System
(Centegra), located in McHenry County, Ill., is among a growing list of
healthcare organizations across the country to enlist the company’s total cost
management capabilities and technology-enabled services to reduce costs and
improve operational efficiencies.
According to the new, multi-year contract, Centegra has selected MedAssets as
its exclusive group purchasing organization (GPO). The health system also will
utilize the company’s Supply Chain Optimization services and Capital and
Construction Solutions to pursue savings opportunities in the pharmacy and
other supply categories, while enhancing the project and financial management
of building a 128-bed hospital.
“MedAssets offered a holistic approach to utilize expert analysis and market
intelligence data to reduce our total cost of care above and beyond the GPO,”
said Michael Eesley, chief executive officer, Centegra Health System.
“Centegra is expanding to meet the growing communities we serve including a
third hospital in Huntley that was recently approved as the first new hospital
in Illinois in 30 years. Ensuring efficiency and integration among our full
healthcare delivery model is essential. Reducing waste is a high priority for
us, and part of our strategic plan to prepare for the economic realities of
healthcare reform. MedAssets is committed to helping Centegra drive financial
improvement, and we feel as though they are advantageous partners. Together,
we will take into account all the key factors that can optimize an
organization’s operating performance and financial strength,” Eesley
Providers Seek Partners for Aligned Success
As healthcare providers across the country prepare for dramatically reduced
reimbursement levels, greater risk and patient outcome accountability,
MedAssets has seen an increased market demand for its Spend and Clinical
Resource Management capabilities. In 2012, nearly 30 healthcare provider
clients signed Strategic Sourcing and other cost management agreements with
MedAssets to reduce operating costs. Of those new clients, 79 percent
converted from their incumbent GPOs, and more than half have also selected to
engage the company’s technology-enabled Clinical Consulting and Workforce
Optimization services, as well as its Capital and Construction, Process
Improvement and Procurement Solutions. In addition to Centegra, recent new
sourcing and spend and clinical resource management agreements include:
*Alameda Health – Oakland, Calif.
*Benefis Health System – Great Falls, Mont.
*Methodist Hospital of Southern California – Arcadia, Calif.
*Sharp HealthCare – San Diego, Calif.
*Stellaris Health Network – Armonk, NY
Access to Industry Leading Contract Portfolio
“In an environment where every dollar counts, hospitals and health systems can
no longer afford to stick to traditional group-purchasing and supply chain
management concepts,” said John Bardis, chairman, president and chief
executive officer, MedAssets. “We offer the greatest breadth and depth of cost
reduction strategies and solutions while partnering with our healthcare
provider clients through our consulting and analytics expertise to engage key
stakeholders to drive cost out of organizations. Our unique combination of
market intelligence, financial and clinical analytics and consultative
expertise creates a cohesive path for hospitals and health systems to address
the financial challenges of today while more effectively and accurately plan
for the future.”
About Centegra Health System
Centegra Health System was created in 1994 when Memorial Medical Center in
Woodstock, IL and Northern Illinois Medical Center in McHenry, IL joined
forces to become the region's leading healthcare provider. Centegra Health
System serves McHenry County and parts of Lake and Kane counties in Illinois
and Walworth County in Wisconsin. Centegra Health System has Level II Trauma
Centers and Level II nurseries at both medical centers. In addition to
Emergency Services and Obstetrics, Centegra is also known for its regional
cancer program -- the Centegra Sage Cancer Center, the Centegra Heart Center,
the Centegra Rehabilitation Network, Centegra Occupational Health and Centegra
Behavioral Health services. Centegra recently expanded its ambulatory care
services at both hospitals, enlarged the Centegra Sage Cancer Center, and
expanded its medically based fitness center, Health Bridge Fitness Center.
MedAssets (NASDAQ: MDAS) partners with healthcare providers to improve their
financial strength by implementing revenue cycle, spend and clinical resource
management solutions that help capture revenue, control cost, improve margins
and cash flow, increase regulatory compliance, and optimize operational
efficiency. MedAssets serves more than 4,200 hospitals and 122,000 non-acute
healthcare providers. The company currently manages $50 billion in supply
spend and touches over $365 billion in gross patient revenue annually through
its revenue cycle solutions. For more information, go to www.medassets.com.
Robin Wrinn, 678-624-7420
Robert Borchert, 678-248-8194
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