New Multi-Year Agreement Includes Services to Enhance Operational Efficiency, Reduce Total Cost of Care
MedAssets today announced that Mercy Medical Center has selected the company for a wide range of solutions to enhance operational efficiency and reduce the total cost of care for one of Iowa's premier healthcare providers.
Under the terms of the multi-year agreement, the Cedar Rapids-based organization will utilize a breadth of MedAssets supply chain optimization solutions, including group purchasing services, pharmacy and spend management analytics, eCommerce Exchange and Transaction Management Services. To achieve sustained financial, operational and clinical performance improvement, Mercy will also engage MedAssets clinical consulting services to align pricing and utilization practices, clinical operations and payment to deliver quality patient care.
Areas of emphasis for Mercy initially will focus on optimizing their procurement process with eCommerce Exchange and Transaction Management Services, a solution set that optimizes the supply requisition-to-payment process for improved resource efficiency and data-driven cost-reduction and management decisions. The eCommerce platform automates backoffice tasks for supply chain transactions and improves contract compliance, while Transaction Management Services increases pricing accuracy and operational efficiency within procurement operations.
"Mercy's new partnership with MedAssets will help us develop and implement sustainable performance improvement and cost management strategies that are essential for continuing our more than century-long tradition of medical excellence and compassionate care," said Nathan Van Genderen, executive vice president and chief financial officer, Mercy Medical Center. "Our ability to leverage MedAssets technology solutions for streamlining the procurement process, driving overall operational efficiency and transparency, and lowering supply costs also ultimately strengthens our ability to serve the residents of Eastern Iowa."
"We are pleased that Mercy has chosen MedAssets as its performance management partner. We look forward to our work together to control costs, improve margins and cash flow, enhance quality and increase efficiency," said Mike Nolte, president and chief operating officer, MedAssets. "As providers nationwide seek to mitigate financial pressures from an increasingly complex reimbursement structure, MedAsset's expertise, technologies and services can help Mercy and other organizations realize sustainable financial and operational gains."