Cerner and MedAssets Expand Collaboration, Integrate Technologies to Improve Hospital Operational and Financial Performance
Best Practice Claims Management Solution Embedded within Cerner's Patient Accounting System to Improve Client Workflows and Optimize Payments
ATLANTA--(BUSINESS WIRE)-- Cerner (NAS: CERN) andMedAssets (NAS: MDAS) announced today the expansion of the companies' business relationship. Knowledge components of MedAssets Claims Management solution will be embedded within the Cerner® Patient Accounting solution to give Cerner clients significantly enhanced claims processing workflow capabilities, operational efficiencies and optimized payments.
The agreement builds upon the two companies' reseller agreement, which enables Cerner to market MedAssets end-to-end portfolio of Web-based revenue cycle solutions. It also reflects a mutual commitment to offer interoperable solutions that empower care providers to swiftly adopt the latest revenue cycle technologies in support of improving the efficiency and effectiveness of the healthcare industry.
"Healthcare organizations face the challenge of managing lower and more complex reimbursement models due to health reform and the transition to ICD-10 coding," said Rick Heise, senior vice president, Revenue Cycle, Cerner. "By embedding proven, best practice claims processing technology within our integrated workflow, we aim to help our clients enhance staff productivity and accountability, improve cash flow and reduce their overall cost-to-collect."
As Cerner continues to embed best practice services, incorporating MedAssets differentiating rules- and logic-driven technology within the Cerner Patient Accounting workflow provides Cerner clients with enhanced capabilities related to complex payor edits, as well as improved operational efficiencies in the processing and status tracking of claims. These knowledge components of the MedAssets Claims Management solution are expected to seamlessly augment patient accounting workflows to drive automation and establish high-functioning, best practice revenue cycle operations.
"The expansion of our relationship with Cerner validates our business model of offering the healthcare market flexible revenue cycle applications that are interoperable with installed clinical and financial enterprise solutions and require low, upfront investment but deliver high value," said Greg Strobel, president, Revenue Cycle Management, MedAssets. "Embedding Claims Management into Cerner's workflow provides the opportunity to highlight our extensive staff of revenue cycle experts who provide the latest payor and regulatory edits to help healthcare organizations get paid fairly, in a timely manner, for services rendered."
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 more than $50 billion in healthcare supply spend and touches over $365 billion in gross patient revenues. For more information, please visit www.medassets.com.
Cerner is contributing to the systemic change of health and care delivery. For more than 30 years Cerner has been executing its vision to make health care safer and more efficient. We started with the foundation of digitizing paper processes and now offer the most comprehensive array of information software, professional services, medical device integration, remote hosting and employer health and wellness services. Cerner systems are used by everyone from individual consumers, to single-doctor practices, hospitals, employers and entire countries. Taking what we've learned over more than three decades, Cerner is building on the knowledge that is in the system to support evidence-based clinical decisions, prevent medical errors and empower patients in their care.
Cerner® solutions are licensed by approximately 10,000 facilities around the world, including more than 2,700 hospitals; 4,150 physician practices; 45,000 physicians; 550 ambulatory facilities, such as laboratories, ambulatory centers, behavioral health centers, cardiac facilities, radiology clinics and surgery centers; 800 home health facilities; 45 employer sites and 1,750 retail pharmacies. Certain trademarks, service marks and logos (collectively, the "Marks") set forth herein are owned by Cerner Corporation and/or its subsidiaries in the United States and certain other countries throughout the world. All other non-Cerner Marks are the property of their respective owners. Nasdaq: CERN. For more information about Cerner, please visit www.cerner.com, Twitter, Facebook and YouTube.
This release contains forward-looking statements that involve a number of risks and uncertainties.It is important to note that the Company's performance, and actual results, financial condition or business could differ materially from those expressed in such forward-looking statements. The words "expected," "aim," or the negative of these words, variations thereof or similar expressions are intended to identify such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: [the possibility of product-related liabilities; potential claims for system errors and warranties; the possibility of interruption at our data centers or client support facilities; our proprietary technology may be subject to claims for infringement or misappropriation of intellectual property rights of others, or may be infringed or misappropriated by others; risks associated with our non-U.S. operations; risks associated with our ability to effectively hedge exposure to fluctuations in foreign currency exchange rates; the potential for tax legislation initiatives that could adversely affect our tax position and/or challenges to our tax positions in the United States and non-U.S. countries; risks associated with our recruitment and retention of key personnel; risks related to our dependence on third party suppliers; risks inherent with business acquisitions; the potential for losses resulting from asset impairment charges; risks associated with uncertainty in global economic conditions; managing growth in the new markets in which we offer solutions, health care devices and services; changing political, economic, regulatory and judicial influences; government regulation; significant competition and market changes; variations in our quarterly operating results; potential inconsistencies in our sales forecasts compared to actual sales; the volatility in the trading price of our common stockand the timing and volume of market activity; our directors' authority to issue preferred stock and the anti-takeover provisions in our corporate governance documents;material adverse resolution of legal proceedings; [and, failure of the parties to achieve the intended benefits][failure to reach the intended synergies.]] Additional discussion of these and other risks, uncertainties and factors affecting the Company's business is contained in the Company's periodic filings with the Securities and Exchange Commission. The reader should not place undue reliance on forward-looking statements, since the statements speak only as of the date that they are made. The Company undertakes no obligation to update forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial condition or business over time.
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Cerner Media Contact:
Megan Moriarty, 816-888-2470
Cerner Investor Contact:
Allan Kells, 816-201-2445
MedAssets Media Contact
Robin Wrinn, 678-624-7420
MedAssets Investor Contact:
Robert Borchert, 678-248-8194
KEYWORDS: United States North America Georgia
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