ATLANTA, Sept. 8, 2014 (GLOBE NEWSWIRE) -- MedAssets (Nasdaq:MDAS) today announced that Baylor Scott & White Health, the largest not-for-profit healthcare system in Texas, has moved from its current eCommerce provider to the MedAssets eCommerce Exchange, an integral component of MedAssets Procure-to-Pay Solutions.
Plans call for an enterprise-wide implementation of MedAssets eCommerce Exchange, a proprietary platform designed to automate purchasing operations; and Transaction Management Services, a solution designed to resolve root causes of pricing mismatches between transacting parties, while providing increased visibility to the organization's supply expenditures.
"Investing in more affordable procurement technologies will enable us to further reallocate staff and resources to mission critical functions, which is a key focus for Baylor Scott & White Health," said Pam Bryant, senior vice president of supply chain services, Baylor Scott & White Health.
Secure Data Transaction Platform Adds Choice and Affordability to the Marketplace
The Baylor Scott & White Health agreement comes as MedAssets introduces new choice and affordability to the marketplace. The company has made a significant investment in infrastructure to expand the availability of its proprietary eCommerce Exchange platform to any provider regardless of their group purchasing organization affiliation, while protecting the security and confidentiality of the providers' transaction data.
The MedAssets eCommerce Exchange combined with Transaction Management Services now offers any provider a high-service, efficient solution to automate up to 100 percent of purchase order transactions with any supplier regardless of their size or technical ability.
Currently, more than 950 healthcare providers and more than 400 suppliers utilize the MedAssets eCommerce Exchange platform. The company processes more than $2.4 billion in spend annually on behalf of its clients comprising more than 10.5 million electronic documents per year, including1.8 million purchase orders.
"As the supply chain operator for some of the nation's largest hospitals and health systems, we are committed to creating market efficiencies and value for all stakeholders in the healthcare continuum," said David Klumpe, senior vice president, supply chain services, MedAssets. "MedAssets has a vested interest in operational excellence, both for providers and suppliers. Our Procure-to-Pay Solutions combine automation and analytics to increase efficient processing of purchase orders, reduce processing costs and increase use of standardized policies and procedures – all contributing to greater cost saving opportunities. By providing a central connection platform for providers and suppliers, both parties can streamline communications and improve financial and operational efficiency during the procurement process."
About Baylor Scott & White Health
Baylor Scott & White Health, the organization formed from the 2013 merger between Baylor Health Care System and Scott & White Healthcare, is today the largest not-for-profit health care system in the state of Texas. With total assets of $8.6 billion* and serving a geographic area larger than the state of Maine, Baylor Scott & White Health has the vision and resources to provide its patients continued quality care while creating a model system for a dramatically changing health care environment. The organization now includes 46 hospitals, more than 500 patient care sites, more than 6,000 active physicians, 36,000 employees and the Scott & White Health Plan. For More information visit: www.BaylorScottandWhite.com
* based on unaudited fiscal year 2014 financial statements
About MedAssets
MedAssets (Nasdaq:MDAS) is a healthcare performance improvement company focused on helping providers realize financial and operational gains so that they can sustainably serve the needs of their community. More than 4,400 hospitals and 122,000 non-acute healthcare providers currently use the company's evidence-based solutions, best practice processes and analytics to help reduce the total cost of care, enhance operational efficiency, align clinical delivery, and improve revenue performance across the care continuum. For more information, please visit www.medassets.com.
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