Greenville Hospital System Embarks on Revenue Cycle Management Transformation, Expands Relationship with MedAssets

MedAssets, Inc. (NASDAQ: MDAS) announced today Greenville Hospital System in Greenville, S.C., has selected MedAssets to assist in the transformation of its revenue cycle management operations. Greenville Hospital System will utilize MedAssets’ suite of revenue cycle Web-based software and service solutions designed to address the system’s patient access, revenue capture, accounts receivables (A/R) and cash flow improvement opportunities.

Greenville Hospital System is partnering with MedAssets to transform its revenue cycle from good to great by using revenue cycle best practices and solutions that have been developed by the company. MedAssets’ transformational capabilities will enable Greenville Hospital System to improve its net cash collections, create strategies for A/R success based on historical and demographic-based trends, and identify ways to measure A/R collections progress with key performance indicators. MedAssets unique combination of data-driven software tools, integrated revenue cycle services and process improvement consulting expertise will also help the system educate and empower its patient representatives to analyze receivables for improved decision-making.

The Greenville Hospital System has been proactive in addressing a constantly changing reimbursement environment. Greenville Hospital System has seen proven results using MedAssets revenue cycle management solutions to address charge integrity, reimbursement integrity and supply chain revenue cycle linkage. These solutions helped the health system identify additional opportunities for increased compliance, net patient revenue capture, and cash acceleration.

Greenville Hospital System, a not-for-profit academic health organization, has five campuses that comprise community hospitals, a tertiary referral and education center, a long-term acute care hospital, nursing home, outpatient facilities and wellness centers. The system’s total net patient revenue for fiscal year 2009 was approximately $1.2 billion.

"MedAssets offers a unique approach to revenue cycle management bringing best-in-class technology, consulting know-how that can change an organization’s culture and proven results for financial improvement,” said Lynn Waters, Executive Director of Revenue Cycle for Greenville Hospital System. "We look forward to putting our teams together to transform our revenue cycle processes, leading to significant improvement.”

"MedAssets’ relationship with Greenville Hospital System represents a growing trend in health systems to tackle every aspect of the revenue cycle and use a best practice methodology to improve processes,” said Rand Ballard, Chief Customer Officer and Chief Operating Officer, MedAssets. "We are pleased that our proven track record for Greenville Hospital System creates trust and allows us to continue to help them enhance their financial strength to the benefit of the Greenville community.”

About MedAssets

MedAssets partners with healthcare providers to improve financial strength by implementing spend management and revenue cycle management 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 40,000 non-acute healthcare providers.

About Greenville Hospital System

The 1,268-bed system is home to 14 medical residency and fellowship programs, South Carolina’s first patient simulation center and nearly 600 active clinical research trials. GHS provides patients a sophisticated network of expertise and technologies through its tertiary medical center, research and education facilities, community hospitals, wellness centers, physician practices (University Medical Group) and numerous specialty facilities in upstate South Carolina.

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