|[May 04, 2012]
MedAssets Recognizes Healthcare Providers and Suppliers for Contributions toward High Quality, More Affordable Healthcare
ATLANTA --(Business Wire)--
As healthcare reform and recession add to the complex challenges facing
the nation's healthcare system, MedAssets (NASDAQ: MDAS) has recognized
hundreds of care providers and supply chain stakeholders for their
contributions toward delivery of high quality, more affordable care.
Collectively, the award winners demonstrated savings and/or financial
improvement of what is estimated to be more than $350 million in 2011,
in addition to efforts to eliminate waste and improve operating margins.
The various award category recipients were recognized at the 2012
MedAssets Healthcare Business Summit held April 10-12.
All award recipients demonstrated leadership and an emphasis on
innovation within the healthcare industry. The MedAssets President's
Award, in particular, recognizes both a provider and a supplier that
stood out in pursuit of sustained financial improvement.
Texas Purchasing Coalition - President's Award, Provider Category
Texas Purchasing Coalition (TPC) received the 2011 President's Award
for $65.4 million in savings during the first 24 months of its
relationship with MedAssets.
The TPC comprises 27 Texas-based facilities with a combined supply spend
of $829 million. In 2010, TPC chose MedAssets to help with its supply
chain needs and physician preference item consulting and technology for
Utilizing a combination of the company's Spend and Clinical Resource
Management solutions, members of the TPC generated the following
savings: $3.9 million in pharmacy services; $20.2 million through
distribution and clinical sourcing initiatives; $4.9 million from group
purchasing services, and $40.3 million by converting usage and more
standardization of physician preference items.
Read TPC's full story here.
Jack Hannemann, Medline Industries - President's Award, Supplier
Jack Hannemann, former vice president of national accounts, Medline
Industries, received the 2011 President's Award in the supplier category
for his instrumental role in developing national agreements with
MedAssets that have provided substantial value to healthcare providers.
After 35 years in the healthcare industry, Hannemann has facilitated
uncountable cost savings to thousands of care providers across the
nation through superior contract value for essential supplies used in
"Each healthcare provder and supplier award winner we've recognized has
their individual and tremendous success story to be told," said Rand
Ballard, senior executive vice president and chief customer officer,
MedAssets. "They have faced the challenges of today's healthcare system
head on and have not waited for the market or the government to dictate
success. MedAssets salutes our clients and valued suppliers for defining
innovation and leadership, and we are humbled and honored to have played
a role in their achievements."
Category Award Recipients
The following clients also were recognized for achievements within
specific award categories:
About Texas Purchasing Coalition
The Texas Purchasing Coalition (TPC) is a supply chain management
partnership that operates across Texas. The TPC is comprised of 11 Texas
not-for-profit health systems representing 27 facilities that have
committed to work together to lower their supply costs. The TPC enables
its members to be recognized as one large system, thus aggregating their
purchase volume and commitment to maximize tiered pricing options,
create unique value, and develop customized programs. Combined, TPC
members represent approximately $800 million in annual supply purchases.
For more information, go to www.thetpc.com.
About Medline Industries
As the nation's largest privately held manufacturer and distributor of
healthcare products, Medline manufactures and distributes more than
125,000 products to hospitals, extended care facilities, surgery
centers, physician offices and home care dealers. Medline is
headquartered in Mundelein, Ill., serving as the primary distributor to
over 450 major hospitals and healthcare systems. Medline offers a
comprehensive array of consulting and management services encompassing
the supply chain and logistics, utilization and standardization,
business tools and enhanced reporting capabilities and on-staff
clinicians. For more information, go to www.medline.com.
MedAssets (NASDAQ: MDAS) partners with healthcare providers to improve
their financial strength by implementing revenue cycle, spend and
clinical resource management solutions that help capture revenue,
control cost, improve margins and cash flow, increase regulatory
compliance, and optimize operational efficiency. MedAssets serves more
than 4,200 hospitals and 100,000 non-acute healthcare providers. The
company currently manages $48 billion in supply spend and touches over
$340 billion in gross patient revenue annually through its revenue cycle
solutions. For more information, go to www.medassets.com.
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