MedAssets Honors Healthcare Providers and Suppliers for 2012 Achievements in Improving Care Quality and Efficiency
University Health System recognized for commitment to comprehensive organizational transformation; Insurance Point recognized for delivering sustainable cost savings to care providers
ATLANTA--(BUSINESS WIRE)-- MedAssets (NAS: MDAS) today announced that University Health System has received the 2012 MedAssets President's Award. Within one year, the nationally recognized academic medical center saved more than $13 million and realized $14 million in cash flow improvement—through a comprehensive advisory services engagement designed to position the organization for successful, sustainable transition to value-based reimbursement. The award was presented at the 2013 MedAssets Healthcare Business Summit, held April 2-4.
Mike Greco and Jim Hall, Insurance Point - President's Award, Supplier Category
Mike Greco, principal and chief sales officer, Insurance Point, and Jim Hall, executive chairman, Insurance Point, received the 2012 President's Award for suppliers. Last year, Insurance Point's collaborative efforts helped MedAssets clients to save an average of 19 percent on employer-paid premiums. With labor the number one expense category for hospitals and health systems, life and disability insurance can represent a significant portion of the organization's overall budget.
University Health System and Insurance Point were among hundreds of healthcare industry stakeholders from across the country recognized at the Summit for innovation and pioneering efforts to reduce costs, enhance operational efficiencies and improve care delivery.
The following MedAssets clients were recognized for achievements in a variety of performance-related categories:
Alameda Health System (Oakland, Calif.) - Cost Management Innovation
Allina Health (Minneapolis, Minn.) - Financial Improvement Innovation
Cullman Regional Medical Center (Cullman, Ala.) - Financial Improvement Process
Hays Medical Center (Hays, Kan.) - Financial Improvement Leadership Award (Community Hospital)
Kettering Health Network (Dayton, Ohio) - Financial Improvement Leadership
Maury Regional Medical Center (Columbia, Tenn.) - Cost Management Leadership (Community Hospital) and Excellence in Quality, Safety and Reliability
Northeast Georgia Health System (Gainesville, Ga.) - Process Improvement Excellence
Sisters of Charity of Leavenworth Health System (Denver, Colo.) - Cost Management Optimization
US Oncology Network (The Woodlands, Texas) - Cost Management Leadership (Non-Acute Care Provider)
"Highlighting the 2012 financial performance achievements of our valued clients and suppliers reinforces that delivering affordable, high quality care is an achievable goal," said Rand Ballard, senior executive vice president and chief customer officer, MedAssets. "We applaud these achievements in care delivery, innovation and transparency and are honored to have played a role in supporting our clients' continued success."
About University Health System
Owned by the people of Bexar County, University Health System is a nationally recognized academic medical center in partnership with UT Medicine San Antonio. University Health System is Bexar County and South Texas' first and only health system to earn Magnet status, the gold standard when it comes to quality nursing care. University Hospital, currently operating 496 beds, is South Texas' lead Level 1 Trauma Center and the only Pediatric Trauma Center and certified Primary Stroke Center. University Health System also includes a network of 19 community clinics focused on primary, specialty, and preventive health services. For more information, see www.universityhealthsystem.com.
About Insurance Point
Insurance Point is an industry expert in Life and Disability products for the healthcare industry. Insurance Point is a direct distributor and third party administrator that only works with hospitals and healthcare organizations; and possesses healthcare industry benefits knowledge that enables them to provide employee benefit benchmarking services for your hospital. For more information, please visit www.insurancepoint.com.
MedAssets (NAS: 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.
KEYWORDS: United States North America Georgia Texas
The article MedAssets Honors Healthcare Providers and Suppliers for 2012 Achievements in Improving Care Quality and Efficiency originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.