MedAssets and Kettering Health Network Renew Agreement to Further Optimize Revenue Cycle Performance across Growing Health

  MedAssets and Kettering Health Network Renew Agreement to Further Optimize
  Revenue Cycle Performance across Growing Health System

      System achieves significant positive financial outcomes, improved
  standardization and a high-level effectiveness in payor contract modeling
                                   services

Business Wire

ATLANTA -- March 28, 2013

MedAssets (NASDAQ: MDAS) today announced a multi-year agreement with Kettering
Health Network (Kettering) in which the company will continue to support the
health system to standardize and optimize its revenue cycle processes and
workflow. The new agreement builds upon an existing relationship that has
yielded Kettering significant financial outcomes, including the identification
of more than $8.5 million in underpayments, recovery of an additional $6.1
million in underpaid accounts receivable, and a $6.1 million increase in
upfront cash collections year over year.

“As we continue to grow to better serve our community, it is critical to have
a proven and trusted partner for revenue cycle performance that can deliver
results year after year so that we can focus on delivering quality care,” said
Larry Zumstein, vice president, Revenue Management and Patient Accounts,
Kettering Health Network.” MedAssets track record in improving financial
performance coupled with the ability to integrate its revenue cycle solutions
with Epic, our enterprise solution, provides the best practices and financial
accuracy needed to help our organization realize sustainable, long-term
success.”

Standardization for Improved Visibility and Streamlined Operations

Since 2007, Kettering has utilized MedAssets Access, Charge and Reimbursement
Integrity solutions and revenue cycle consulting services to support its
centralized business office. All acquired facilities are integrated, and the
charge description master standardized quickly for defensibility and accuracy.
The company’s services and technology also supported the health network in its
drive to maintain an accurate and centralized chargemaster to drive
system-wide standardization for optimal charge and price accuracy. In
addition, Kettering enlisted MedAssets services team to maintain normal
accounts receivable activity during the health network’s Epic installation,
and continues to work with the company for contract modeling support during
payor negotiations and implementation.

“Today's announcement with Kettering is another example of how MedAssets works
to help healthcare organizations improve operations and financial results
through an industry-leading software portfolio aligned with comprehensive
consulting expertise,” said Greg Strobel, president, Revenue Cycle Management,
MedAssets. “As a result, we help hospitals and health systems achieve a faster
return on investment while freeing up cash and internal resources.”

Kettering also uses key components of MedAssets Spend and Clinical Resource
Management solutions to analyze the utilization and purchase of medical and
non-medical supplies across its seven-hospital system to drive cost reductions
and operating efficiencies.”

About Kettering Health Network

Kettering Health Network is a not-for-profit network of seven hospitals, eight
emergency rooms and more than 75 outpatient facilities in Greater Dayton and
Northern Cincinnati. From maternity, state-of-the art cancer fighting
technology, heart care, to senior living, Kettering Health Network has health
services for every stage of life. For the past three years, Kettering Health
Network has been named a Top 10 Healthcare System in the nation by Thomson
Reuters. Please visit www.khnetwork.org.

About MedAssets

MedAssets (NASDAQ: MDAS) helps healthcare organizations to improve financial
strength through innovative revenue cycle, spend and clinical resource
management solutions that enable improved margins, cash flow, quality of care
and patient satisfaction. More than 4,200 hospitals and 122,000 non-acute
healthcare providers currently use the company’s Web-based technologies and
evidence-based solutions to help capture revenue, control cost, increase
regulatory compliance and optimize operational efficiency to improve the care
delivery process. As a result, the company manages annually $50 billion in
healthcare supply spend and touches over $365 billion in gross patient
revenues. For more information, please visit www.medassets.com.

MDAS/B

Contact:

MedAssets
Media Contact:
Robin Wrinn, 678-624-7420
rwrinn@medassets.com
or
Investor Contact:
Robert Borchert, 678-248-8194
rborchert@medassets.com
 
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