Health Systems Select MedAssets' Claims Management Solutions to Drive Financial Improvement

ATLANTA — MedAssets, Inc. (NASDAQ: MDAS – News) today announced that three health systems have signed multi-year agreements to implement MedAssets’ claims management solutions to help increase their net revenue and cash flow. These healthcare providers include:

• Greenville Hospital System, based in Greenville, S.C. with five medical campuses, four acute care hospitals and three specialty hospitals, totaling more than 1,100 total beds and 1.4 million outpatient visits;
• Partners HealthCare, located in Boston, Mass., which provides care to approximately 1.7 million patients through two academic medical centers, six community hospitals and numerous specialty health centers; and
• Riverside Health System based in Newport News, Va. with five hospitals and 340 physician specialists throughout its 130 care locations.

MedAssets’ claims management solution offers a Web-based suite of workflow tools that help providers improve claims accuracy and revenue capture. This solution increases net revenue and improves cash flow by eliminating errors, reducing denied claims, capturing lost revenue and improving upstream processes. MedAssets’ #1 in KLAS claims management tool increases claims’ first pass payment rates to accelerate cash flow and reduce accounts receivable days. The claims management solution is part of MedAssets’ comprehensive revenue cycle management offerings which cover the full spectrum of providers’ revenue cycle needs from patient access to account resolution.

“We are pleased to assist our existing customers Greenville Hospital System, Partners Healthcare System and Riverside Health System with additional revenue cycle management solutions that will streamline claims processes to improve operating margins,” D.T. Nguyen, president, revenue cycle management, MedAssets, stated. “By using innovative MedAssets tools, all three of these great providers will further protect their revenue streams, strengthening their future ability to serve the communities who depend on them for healthcare services.”

About MedAssets
MedAssets (NASDAQ: MDAS – News) partners with healthcare providers to improve their financial strength by implementing 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, 3,300 hospitals and 30,000 non-acute care healthcare providers. For more information, visit www.medassets.com.

About Greenville Hospital System
Greenville Hospital System University Medical Center (GHS) is one of the largest not-for-profit healthcare providers in the Southeast. Comprised of a regional medical center, research and education facilities, community hospitals, wellness centers, primary care physician practices (University Medical Group) and numerous specialty facilities, it offers a sophisticated network of expertise and technologies that provide patients with convenient, cost-effective, high-quality health care. Greenville Memorial Hospital, which has an accredited Chest Pain Center, is the only hospital in the state of South Carolina that provides complete recovery support for patients who suffer from acute heart failure. For more information, go to ghs.org.

About Partners Healthcare System
Partners HealthCare is an integrated health system founded by Brigham and Women’s Hospital and Massachusetts General Hospital. In addition to its two academic medical centers, the Partners system includes community and specialty hospitals, community health centers, a physician network, home health and long-term care services, and other health-related entities. Partners is one of the leading biomedical research organizations and a principal teaching affiliate of Harvard Medical School. Partners HealthCare is a non-profit organization.

About Riverside Health System
Riverside Health System is a 501c(3) tax exempt, non-profit organization. Riverside is driven by the care designed and delivered by over 420 clinical providers, including more than 330 physicians, who function as the Riverside Medical Group. The system also operates 931 acute inpatient beds in three acute care hospitals, a psychiatric hospital and Virginia’s largest physical rehabilitation hospital. More than 45% of all inpatients at Riverside are Medicare recipients. A voluntary Board of Trustees comprised of local business, professional and community leaders governs each major division or facility within the system. The chairperson of the each community board in turn serves on the Health System board.