PR - MedAssets Announces Contract Expansion for Accounts Receivable Services

MedAssets, Inc. (NASDAQ: MDAS) announced Tuesday that Grinnell Regional Medical Center, located in Grinnell, Iowa, recently expanded its relationship with MedAssets to include implementation of decision support software and accounts receivable management services from MedAssets’ revenue management segment. Grinnell also utilizes supply chain and additional revenue management tools from MedAssets.

Grinnell will utilize MedAssets’ capabilities for outsourcing of cost accounting management and enterprise-wide reporting. The decision support solution purchased by Grinnell was developed specifically for the smaller facility (under 150 beds) market where personnel and resources may be limited.

Additionally, Grinnell will use MedAssets’ accounts receivable management software and services to accelerate cash across all payors while improving productivity and accuracy in the business office.

Grinnell Regional Medical Center (GRMC) enjoys the exclusivity of being a top rural medical center in the greater Poweshiek County area of Iowa. GRMC serves the region with more than 500 employees and a growing medical staff of approximately 50 physicians. Each individual who enters their doors contributes to the mission of Grinnell Regional Medical Center. Each patient, physician, staff member, visitor, volunteer, EMC responder, or service supplier plays a key role in pulling together all the pieces of the GRMC healthcare picture.

“The decision support suite from MedAssets allows us to pull information from several different areas and present in an easily interpreted format,” stated Todd Nelson, chief financial officer of Grinnell Regional Medical Center. “Reports previously delayed by months after completion and hand calculated are now integrated into a consolidated report. This allows for more real time information and better decision making, as well as freeing time of our staff to analyze the results instead of having to produce them.”

“MedAssets accounts receivable services will save Grinnell time while improving the quality of the data used during the billing and collection process. By eliminating mistakes from manual processes, re-deploying employees to more customer facing tasks, and providing online access to needed information for hospital and patient viewing, Grinnell will achieve dramatic financial results and improved customer satisfaction,” commented Dan James, president of the revenue management segment, MedAssets, Inc. “Our decision support system will help Grinnell improve clinical performance, control costs, manage and negotiate contracts, develop budgets and analyze productivity across their organization.”

About MedAssets
MedAssets (NASDAQ: MDAS) partners with healthcare providers to improve their financial strength by implementing integrated spend management and revenue cycle solutions that help control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency. MedAssets serves more than 125 health systems, 2,500 hospitals and 30,000 non-acute care healthcare providers.