ATLANTA, GA – MedAssets, Inc. today announced that Stamford Health System has selected the company as its strategic spend management partner to reduce costs, improve utilization and enhance process efficiency to its supply chain. The health system will utilize MedAssets' group purchasing organization (GPO) contracts for system-wide cost reduction. It will also increase transparency and improve utilization through the company's clinical and supply chain consulting services, and by utilizing business intelligence technologies such as Strategic Information and Service Line Analytics.

The not-for-profit health system is a MedAssets revenue cycle management customer and utilizes MedAssets' Access Integrity and Charge Integrity solutions. Stamford captured $1.9 million in lost charges using MedAssets Charge Capture Audit tool in 2009. Stamford Health System includes a 305-bed hospital facility and generates annual revenue of more than $480 million.

"With the implementation of the new healthcare reform law, it is more important than ever for our team to leave no stone unturned when it comes to identifying areas where we can reduce our costs and increase our efficiency," said Brian Grissler, chief executive officer, Stamford Health System. "MedAssets has been a tremendous partner for us on the revenue cycle side of our organization. We look forward to working with them to apply their supply chain best practices to realize cost reductions."

Through MedAssets' group purchasing services, Stamford will access a comprehensive contract portfolio of quality, cost-effective commodity medical products and supplies. MedAssets' clinical and supply chain consultants will work with Stamford personnel to evaluate all savings opportunities across the supply chain. Using Service Line Analytics, the health system will be able to engage its physicians in the cost-reduction process and improve operating margins by service line, physician and MSDRG without impacting the quality of care. Technology such as Strategic Information and Strategic Information for Pharmacy will identify price discrepancies and savings opportunities to bring added transparency and efficiency to the Stamford Health System supply chain.

"MedAssets has proven itself to be a true financial improvement partner, and we appreciate the customized approach MedAssets brings to our organization's supply chain," said Kevin Gage, Chief Financial Officer, Stamford Health System. "We look forward to the process improvement their technology, tools and expertise will provide our supply chain staff. Their solutions will advance our efficiency and help us focus on margin improvement across our system."

"We are pleased that Stamford Health System has chosen to expand its relationship with MedAssets by adding our innovative supply chain solutions," stated Rand Ballard, Chief Customer Officer and Chief Operating Officer, MedAssets. "Stamford's desire to reduce costs and increase efficiency in its supply chain as well as its revenue cycle illustrates the value MedAssets brings to healthcare providers as we help them improve their margins in preparation of healthcare reform implications."