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MedAssets' 2007 Healthcare Business Summit Celebrates Successes in Healthcare

Atlanta, GA

At its Healthcare Business Summit in Las Vegas, April 9-13, MedAssets announced its commitment to further expand its technologies and services to help healthcare providers improve their overall financial and operational performance.

In his address to the more than 2,700 healthcare professionals attending the MedAssets Healthcare Business Summit, MedAssets’ Chairman, President and CEO John Bardis shared the company’s plans to expand its revenue cycle management suite through acquisition of Xactimed and emphasized that the company’s diligent and deliberate growth is driven by the need to solve the challenges healthcare providers are facing as they work to improve the quality of care and efficiency in our nation’s healthcare system. 

“We are committed to serving as a business partner to healthcare providers, and we are focused on leading industry change by helping providers identify and implement the technologies and business processes needed to provide quality care in a resourceful manner,” Bardis said.  “It is our goal to help our customers address their greatest financial challenges and improve cash flow to continue their mission.”

During the event, MedAssets recognized customers who had achieved substantial financial and operational success through the use of the company’s technologies and services.  MedAssets Supply Chain Systems also presented awards to GPO suppliers who work with healthcare providers to help them realize greater cost efficiency.

“We strive to provide the best products, technology and services available in the areas of supply chain, revenue cycle, clinical consulting and decision support,” said Rand Ballard, chief operating officer, MedAssets, Inc.  “And each year, we recognize our customers for their operational and financial improvements they have achieved through the use of solutions.”

This year marked the initial presentation of The Lifetime Financial Improvement Award as well as awards recognizing high-performing customers of MedAssets’ subsidiaries Avega Health Systems, MedAssets Net Revenue Systems and MedAssets Analytical Systems.  These awards include: MedAssets Net Revenue Systems Customer of the Year Award, Best Practice Leader Award, and Best Practice Award; the Avega Best Practice Leader Award; and the MedAssets Analytical Systems Utilization Excellence Award.

The Lifetime Financial Improvement Award, which recognizes the healthcare provider that has documented and signed off on the greatest financial savings over a multi-year relationship with MedAssets, was presented to St. Joseph Health System for saving $98 million.  Norton Healthcare received MedAssets Net Revenue Systems Customer of the Year Award, and Maricopa Integrated Health System was recognized as MedAssets Net Revenue Systems Best Practice Leader.  A total of 16 customers received the MedAssets Net Revenue Systems Best Practice Award.  The Avega Best Practice Leader Award was presented to three customers: Legacy Health System, Vanguard Health System and Mercy Hospital in Iowa.  Four MedAssets Analytical Systems customers received Utilization Excellence Awards: Erlanger Health System, MedCath, Wellmont Health System and Atlantic Health System. 

The 2007 Outstanding Humanitarian Award went to Chris Van Gorder, chief executive officer of Scripps Health in San Diego, Calif., to recognize his community service work and professional excellence and his reflection of MedAssets core values of compassion, character, confidence, and commitment. The MedAssets President’s Award was presented to Trae Roby of OfficeMax for his strong leadership and delivery of superior value to MedAssets’ customers.  OfficeMax was also recognized as this year’s Strategic Sponsor of the Healthcare Business Summit.  Additionally, the second annual Enterprise President’s Award was presented to Atlantic Health for its improved financial performance achieved through the complete MedAssets enterprise solution platform including supply chain innovation and other technology solutions. Other award presentations included 260 supplier awards, as well as The Supply Chain Savings Award, which was presented to OfficeMax and ICU Medical. 

The general session keynote address was delivered by Dr. G. Jeffery Poffenbarger.  Dr. Poffenbarger, a formerArmy neurosurgeon whose craniectomy performed on a female solider landed him on Oprah, discussed the injuries and medical conditions endured by our military personnel fighting overseas.  His address reinforced the need for Hire Heroes, a new program of the Health Careers Foundation, a nonprofit healthcare education organization supported by MedAssets and many leading healthcare companies and hospitals.  The launch of Hire Heroes, which will help place disabled veterans in healthcare industry jobs, was announced during the general session.

Opportunities to earn continuing education credits included the MedAssets Performance Forum:  Maximizing Financial and Operational Improvement, which was co-sponsored by the Healthcare Financial Management Association. Industry leaders spoke to an audience of more than 125 financial executives about industry trends and how to improve business processes. Additionally, customers and suppliers connected extensively during the week through 16 educational sessions addressing topics such as “maximizing laboratory efficiency through automation and auto-verification”, “transforming health systems through integrated information systems”, “OR redesign strategies”, and “the return on investment of a strategically managed supply chain (a case study)”. Additionally, contracting committees held working meetings to guide direction of key categories.  This year’s vendor fair had more than 400 booths providing suppliers the opportunity to interact with, and display their products to, customers and prospects. 

Sponsorship support of the annual meeting was a key component to the event’s success.  In addition to the Strategic Sponsor, OfficeMax, other corporations sponsoring the educational events and the golf outing benefiting Health Careers Foundation included Johnson & Johnson Health Care Companies, Roche Diagnostics, GE Healthcare, and Abbott. 

See MedAssets Healthcare Business Summit for more information.