MedAssets, Inc. (NASDAQ: MDAS) announced an agreement with Ivinson Memorial Hospital in Laramie, Wyoming for the full suite of MedAssets’ revenue management tools to provide a complete revenue cycle transformation. The multi-year agreement includes tools and services for patient access workflow, strategic pricing, chargemaster management, charge capture, revenue-supply linkage, claims submission, denials and accounts receivable management. Strategic revenue cycle consulting will be provided to maximize the use of tools and to improve business processes to achieve financial results.
Ivinson Memorial Hospital, the third largest hospital in the state of Wyoming, is certified as an Area Trauma Hospital. The hospital provides extensive state-of-the-art services in imaging, cancer treatment, surgery, obstetrics, dialysis and more.
“Ivinson Memorial Hospital is a financially sound organization, yet we have untapped potential for increased revenue and improved efficiencies in our revenue cycle,” stated Karl Vilums, chief financial officer, Ivinson Memorial Hospital. “Through our relationship with MedAssets, we expect to improve customer satisfaction through improved billing processes and claims management while identifying areas for enhanced efficiency. Incremental revenue gained from our engagement with MedAssets can be reinvested into our facilities, new technology and existing programs.”
Dan James, president of revenue management, MedAssets, Inc., said “Ivinson Memorial Hospital chose MedAssets for its full range of revenue management services to reach their goal of being a model for best practices in the revenue cycle. The Ivinson team immediately realized the financial and operational benefits of managing their revenue cycle with technology and services from one company.”
MedAssets’ revenue management solutions span the hospital and ambulatory surgery center revenue cycle processes – from pre-admission, charge capture, case management and clinical documentation review through contract management, claims processing and accounts receivable management – to help providers improve their revenue cycle integrity.
About MedAssets
MedAssets (NASDAQ: MDAS) partners with healthcare providers to improve their financial strength by implementing integrated spend management and revenue cycle solutions that help control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency. MedAssets serves more than 125 health systems, including 2,500 hospitals and 30,000 non-acute care healthcare providers. For more information, visit www.medassets.com.
About Ivinson Memorial Hospital
Ivinson Memorial Hospital is a 99-bed facility located in Laramie, Wyoming. Their primary market consists of over 50,000 people in an area covering over 12,000 square miles. They provide a vast array of services for patients of all ages. Services include cancer treatment, imaging, inpatient and outpatient surgery, extended care facility, medical inpatient/ICU, obstetrics, pediatrics, inpatient behavioral health, physical rehabilitation, dialysis, nuclear medicine and full laboratory and pathology. Ivinson employs three hospitalists to provide round-the-clock care to all hospitalized adult patients. For more information, visit http://www.ivinsonhospital.org.