ATLANTA, GA (APRIL 2, 2008) –MedAssets, Inc. (NASDAQ:MDAS) announced today the release of PriceMaster, a web-based pricing software tool that enables healthcare providers to proactively address price defensibility and transparency with flexible and dynamic pricing capabilities. PriceMaster is an integrated part of MedAssets’ CDM Master™ chargemaster monitoring and maintenance product, and this expanded functionality within the suite of revenue solutions from MedAssets enhances hospitals’ ability to achieve revenue integrity.
PriceMaster enables healthcare providers to establish prices for hospital services by comparing current prices to market benchmarks, fee schedules, cost and relative value unit (RVU) data and CMS national, state and hospital benchmarks. It also allows modeling of different pricing scenarios and forecasts the net and gross impact of pricing changes. Prices outside pre-established cost and benchmark thresholds are automatically identified in order to help providers adhere to established pricing policies.
“Pricing of hospital services has never been more important,” stated Dan James, president of the revenue management segment, MedAssets, Inc. “MedAssets’ goal is to make this process easier, more accurate, and completely transparent for our customers. The addition and integration of PriceMaster into our current suite of tools further equips our customers to create defensible pricing strategies while being properly reimbursed for the services they provide.”
MedAssets’ revenue cycle solutions span the hospital revenue cycle workflow – from pre- admission, charge capture, case management and clinical documentation review through contract management, claims processing and accounts receivable management. These solutions include revenue cycle technology and consulting, charge integrity and pricing services, claims, remittance and denial management, silent PPO recovery, concurrent and retrospective denial management, accounts receivable services and decision support technology. MedAssets’ workflow solutions, together with data management and business intelligence tools, increase revenue capture and cash collections, reduce accounts receivable days and increase regulatory compliance.