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725 Darlington Avenue
Mahwah, NJ 07430
(201) 444-9900
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Contact:
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MedAssets, Inc.
Jill Winkler
three
404-266-0899, ext. 119
jwinkler@3atlanta.com
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MEDASSETS TO FURTHER EXPAND REVENUE CYCLE SUITE OFFERING
WITH AGREEMENT TO ACQUIRE MD-X SOLUTIONS
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ATLANTA (JUNE 13, 2007) -- MedAssets Inc. and MD-X Solutions, Inc.
announced today they have entered into an agreement whereby MedAssets will
acquire MD-X, a leading provider of revenue cycle technology and services to
the healthcare industry. The agreement, which is expected to be finalized in
July, will expand the offering of MedAssets Net Revenue Systems to include
broad solutions for Business Office outsourcing, comprehensive Denials
Management software and services, HIM compliant documentation, Point-of-Service
collections improvement, and "Silent PPO" Discount Recovery.
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Based in Mahwah, New Jersey,
MD-X offers web-based tools for:
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Accounts Receivable & Denials Management Workflow Technology,
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. Cash
and 835 Allowance Posting, Mapping and Reconciliation,
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Concurrent Review and Case Management,
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Coding Clarification and Optimization,
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. Risk
Management Tracking and Reporting,
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Infectious Disease Tracking and Reporting,
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Quality and Core Measures Tracking and Reporting,
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Patient Access process improvement
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Dynamic Business Intelligence Reports across all MD-X applications.
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"The goals and values of MD-X are consistent with those of MedAssets and
enhance our efforts to help providers improve their financial performance,"
said John Bardis, chairman, president and CEO, MedAssets, Inc. "MD-X's
capabilities are a great addition to the existing MedAssets Net Revenue Systems
offerings and recently acquired XactiMed's revenue cycle solutions. We will be
able to help solve healthcare providers' revenue cycle challenges more
effectively by taking on the accountability for the results as a single
business partner."
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The addition of MD-X's solutions to the MedAssets Net Revenue Systems'
portfolio will offer an expanded suite of technologies and services to improve
the integrity of hospital revenue cycle processes so that hospitals are paid
fairly for services provided, and in a timely manner. MedAssets' current
revenue cycle offerings include chargemaster management, charge capture
auditing, defensible pricing, as well as supply item file and chargemaster
linkage. In May 2007, MedAssets also acquired Texas-based XactiMed, Inc. which
offers extensive claims management solutions.
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"As a part of MedAssets Net Revenue Systems team, we will be extremely well
positioned to offer both new and existing customers a full complement of
software and service solutions across the revenue cycle," stated Joseph H.
Davi, President, MD-X Solutions, Inc. "MedAssets customer-oriented culture
coupled with their commitment to building the premiere, integrated revenue
cycle platform in the healthcare industry represent a perfect strategic fit for
our company and our clients."
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"MedAssets' growth through acquisition not only strengthens individual business
segments such as revenue cycle management, but further equips our company to
deliver value to our customers through innovation of new solutions across
business units," continued Bardis. "New tools such as CrossWalk®, our
technology that links supply chain and revenue cycle, are possible because
experts from different areas of our business are constantly working together to
identify unmet needs and innovate solutions previously unavailable in the
market."
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MedAssets' mission is to improve healthcare providers' margin and cash flow by
solving significant operational problems with a customized solution of
technology and service.
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About MedAssets
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MedAssets partners with healthcare providers to improve operating margins and
cash flow while supporting quality of care goals. MedAssets implements
integrated solutions to address the greatest opportunities for financial and
process improvement and drives performance in revenue cycle, supply chain and
clinical service line management. MedAssets is a business partner to more than
2,400 hospitals and 30,000 non-acute care healthcare providers. For more
information, visit www.medassets.com
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About MD-X Solutions
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MD-X Solutions is a national leader in the development and deployment of
advanced revenue cycle solutions and services for hospitals MD-X's solutions
include Revenue Cycle Re-engineering Services, "Silent PPO" Discount Recovery,
Comprehensive Denial Management Solutions, Compliant HIM Documentation and
Coding Services, Outsourced Accounts Receivable Services, and Workflow
Management / Business Intelligence Systems that allow hospitals to maximize
reimbursement and achieve industry best practice. For more information, visit
www.md-x.com.
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