HealthSouth Selects MedAssets HSCA as Supply Chain Partner; Will Help Control Costs and Improve Purchase Data Transparency
BIRMINGHAM, Ala. & ST. LOUIS--(BUSINESS WIRE)--Sept. 29, 2003--HealthSouth Corporation (OTC Pink Sheets: HLSH), the nation's largest provider of outpatient surgery, diagnostic imaging and rehabilitative healthcare services with nearly 1,700 locations in all 50 states and abroad, has selected MedAssets HSCA as its exclusive supply chain partner and group purchasing organization (GPO). The five-and-a-half-year relationship is effective Dec. 1, 2003.
HealthSouth is in the process of enhancing its operating systems and processes to provide greater control and efficiency to its overall supply chain operation. HealthSouth said that MedAssets HSCA will assume specific accountabilities to improve the company's supply chain operation.
MedAssets HSCA has assumed accountability to manage HealthSouth's supply costs and to provide greater transparency into, and control for its supply chain procurement processes. MedAssets helps control supply costs by providing lower pricing on commodities, pharmaceuticals and physician preference products, and by improving procurement processes.
MedAssets HSCA is providing HealthSouth a customized version of its Web-based CDQuick(R) E-catalog, which will house more than 1,100 vendor supply contracts, including unique HealthSouth vendor agreements, all with HealthSouth's negotiated and pre-approved pricing. A supply contract formulary will be provided to HealthSouth's buyers to build purchase orders with approved suppliers and the lowest available pricing. The custom catalog also provides price audit capability for pharmaceutical purchases and provides vendor purchase data reports for other supplies for tracking of expenditures, pricing and of earned purchase-rebates. The MedAssets HSCA-HealthSouth custom catalog will be operational by Dec. 1, 2003.
"The revision of HealthSouth's supply chain should provide us with greater financial control, and transaction transparency, and help reduce total supply cost expense, which will allow us to continue to deliver the high quality of patient care for which HealthSouth is known in a cost-effective manner," said Bob May, HealthSouth's interim Chief Executive Officer.
John Bardis, Chairman, President and CEO of MedAssets stated, "MedAssets is pleased to provide HealthSouth with new supply chain solutions through our focus on improving healthcare systems' procurement processes and cash flow. We believe that our systems and services will give HealthSouth and its healthcare providers the insight into their contract utilization that they have sought and will allow them to obtain optimal purchasing power and capability."
About MedAssets HSCA
MedAssets HSCA, headquartered in St. Louis, Mo., is the third largest group purchasing organization in the country, serving more than 16,000 healthcare providers nationwide with purchasing power approaching $7 billion in gross throughput. It is MedAssets HSCA's mission to be the market-leading, customer-oriented supply chain and contract services company, focused on maximizing the financial performance of healthcare institutions. MedAssets HSCA's parent company, MedAssets of Atlanta, Ga., recently acquired OSI Systems, a leading revenue cycle management company for healthcare providers enabling cash flow improvement from both revenue and supply cost improvement. For more information about MedAssets HSCA, or its parent company MedAssets Inc., go to www.medassets.com or contact Gary Johnson, Vice President for Marketing and Marketing Services, at gjohnson@medassets.com.
About HealthSouth
HealthSouth is the nation's largest provider of outpatient surgery, diagnostic imaging and rehabilitative healthcare services, with nearly 1,700 locations in all 50 states and abroad. HealthSouth can be found on the Web at www.healthsouth.com.
CONTACT:
For MedAssets
TroneAtlanta Public Relations
Rick Toller, 404-266-0899
rtoller@trone.com
or
HealthSouth
Andy Brimmer, 205-410-2777
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