Profile: MedAssets Inc (MDAS.OQ)
22 Aug 2014
MedAssets, Inc. (MedAssets), incorporated on June 24, 1999, provides technology-enabled products and services. The Company’s technology-enabled solutions are delivered primarily through company-hosted software, or software as a service (SaaS) or Web-based applications, supported by implementation, consulting and outsourced services and consulting, as well as enterprise-wide sales and client management support. Its Web-based applications employ the concept of cloud computing by using the Internet to virtually deploy its solutions across decentralized health care organizations. It operates in two segments: Spend and Clinical Resource Management (SCM), and Revenue Cycle Management. The Company’s client base includes over 4,200 acute care hospitals and more than 122,000 ancillary or non-acute provider locations.
Spend and Clinical Resource Management Segment
The Company’s SCM segment provides a suite of cost management services, supply chain analytics and data capabilities that help its customers manage many of their high expense categories. The Company’s SCM segment helps its customers manage a substantial portion of their high expense categories through a combination of group purchasing, medical device and clinical resource consulting as well as supply chain outsourcing and procurement services among other capabilities. In addition, the Company offer business intelligence and decision support tools.
The Company’s The Company’s national portfolio of over 1,800 contracts with more than 1,150 manufacturers, distributors and other vendors provides its customers with access to a range of products and services. The products and services include medical/surgical supplies, pharmaceuticals, laboratory supplies, capital equipment, information technology, food and nutritional products, and purchased services.
The Company offers a range of capital equipment contract portfolio, and provides an assessment of equipment needs to gauge the lifespan of existing equipment, relative to service agreements, clinical utilization, technology trends and replacement/upgrade options. It also provides technology-driven equipment planning to help clients complete their construction or remodeling project on time and under budget.
The Company’s construction services include a detailed design/build feasibility study to improve accuracy of budgeting processes for project financing, as well as an engineering/building process to minimize future maintenance and maintain client aesthetics. Overall project management, tracking, monitoring and reporting is delivered through Web-based technology portal, and savings can be achieved from aggregating and coordinating projects scheduled to begin in similar time frames.
The Company’s decision support software provides clients with an integrated suite of business intelligence tools designed to facilitate hospital decision-making by integrating clinical, financial and operational information into a common data set for accuracy and ease of use across the organization. Key components include budgeting, cost accounting, cost management, contract analytics, clinical analytics and client-defined key performance indicators, such as profitability per referring physician and per procedure.
Revenue Cycle Management Segment
The Company’s RCM segment provides a range of products and services spanning the revenue cycle workflow-from patient access and financial responsibility, charge capture and integrity, pricing analysis, claims processing and denials management, payor contract management, revenue recovery and accounts receivable services. It combines its revenue cycle workflow solutions with decision support and business intelligence tools to increase financial improvement opportunities and regulatory compliance for its customers. Some customers choose to actively manage their revenue cycle using internal resources that are supplemented with its solutions. Other customers have chosen a solution set that utilizes its suite of products and services spanning the entire revenue cycle workflow. The Company’s CrossWalk and CrossWalk for Pharmacy solutions, integrate a hospital’s supply chain and revenue cycle to provide side-by-side visibility into supply charge and cost data and the corresponding charges in the hospital’s chargemaster to ensure that all chargeable supplies are accurately represented in the chargemaster.
The Company competes with Allscripts Corporation, Epic Systems Corporation, McKesson Corporation, Siemens AG, The Advisory Company, Accenture Ltd., Accretive Health, Inc., Deloitte & Touche LLP, Ernst & Young LLP, Huron Consulting, Inc., Navigant Consulting, Inc., PricewaterhouseCoopers LLP, Craneware Inc., Emdeon Inc., Optum, Passport Health Communications, Inc., The SSI Group, Inc., Amerinet Inc., HealthTrust LLC, Novation LLC and Premier, Inc.
Suite 200, 100 North Point Cente
ALPHARETTA GA 30022