Ochsner Health System Selects MedAssets to Transform Its Revenue Cycle and Drive Financial Improvement
ATLANTA--(BUSINESS WIRE)--MedAssets, Inc. (NASDAQ: MDAS) today announced a long-term strategic agreement to provide transformational revenue cycle services to New Orleans-based Ochsner Health System for the realization of continued financial improvement.
“Through this agreement, we are building on a strategic relationship that already exists within our organization and looking to realize significant benefits in our revenue cycle”
MedAssets’ technology, consulting, and accounts receivable service expertise will be utilized to fundamentally reengineer Ochsner’s revenue cycle processes, from patient access through business office operations, to help deliver improved net revenue and cash flow.
MedAssets and Ochsner currently have a relationship, with MedAssets providing spend management and revenue cycle solutions, including group purchasing and supply chain analytics and consulting and claims management. In recent months, Ochsner has invested in MedAssets’ revenue cycle management technology solutions to enhance revenue capture and integrity through tools focused on chargemaster management, price modeling, charge capture, denial management, and supply chain and revenue cycle management linkage.
Ochsner Health System is a non-profit, academic, multi-specialty, healthcare delivery system dedicated to patient care, research and education. This award-winning system includes seven hospitals and over 35 health clinics located throughout Southeast Louisiana. Ochsner employs more than 750 physicians in 90 medical specialties and subspecialties, and performs more than 300 clinical research trials annually. In 2008, Ochsner Health System supported almost 1.3 million patient visits and generated more than $1.3 billion in net patient service revenue.
“We are proud to help support Ochsner Health System’s unwavering mission to provide Louisiana communities with the finest healthcare by implementing best-practice revenue cycle capabilities,” said Rand Ballard, chief customer officer and chief operating officer, MedAssets, Inc. “We believe our proven experience in transforming revenue cycle operations through the application of data-driven software tools and services makes MedAssets the perfect partner to help Ochsner achieve its short and long term goals.”
“Through this agreement, we are building on a strategic relationship that already exists within our organization and looking to realize significant benefits in our revenue cycle,” said Jody Ohlmeyer, vice president, finance, Ochsner Health System. “We look forward to improved revenue cycle operations that will positively position Ochsner for the future.”
“Our revenue cycle services experts and technology will work side-by-side with the Ochsner team to implement best practice processes,” said Robert Wright, president, Revenue Cycle Services, MedAssets. “This crucial program will create more effective financial operations and improved net revenue capture that will be experienced throughout the health system - from staff training to customer service.”
MedAssets (NASDAQ: MDAS) partners with healthcare providers to improve their financial strength by implementing 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, 3,300 hospitals and 30,000 non-acute care healthcare providers. For more information, visit www.medassets.com.
About Ochsner Health System
Ochsner Health System (www.ochsner.org) is a non-profit, academic, multi-specialty, healthcare delivery system dedicated to patient care, research and education. The system includes seven hospitals and over 35 health centers located throughout Southeast Louisiana. Ochsner employs more than 750 physicians in 90 medical specialties and subspecialties and performs over 300 clinical research trials annually. Ochsner has been listed as one of the “Best Places to Work” by New Orleans CityBusiness since 2005 and received the Consumer Choice for Healthcare in New Orleans for 13 consecutive years. Ochsner was ranked as “Best” Hospital by U.S. News and World Report in 2007. Ochsner has 11,000 employees system-wide.