ATLANTA--Aug. 14, 2006--MedAssets Net Revenue Systems announced today the release of the latest version of CrossWalk(TM), the only technology that automatically and continuously links healthcare providers' supply cost data to charge data to ensure charges cover costs with a reasonable and defensible markup. The new release adds reporting options and mark-up simulation for multiple facilities within a health system. CrossWalk's capabilities enable healthcare financial managers to aggregate data from multiple facilities to view the bottom line impact of supply costs and various markup strategies and improve operational efficiencies across the entire organization.
CrossWalk version 2.5 provides greater functionality that will increase transparency into supply chain and revenue cycle data across multiple facilities resulting in more defensible and consistent billing practices system-wide. Enhanced report delivery allows users to create customized reports for multiple or single facilities, save for easy access, or request an email version to be sent at pre-determined times.
"CrossWalk allows revenue cycle and supply chain managers to identify supply items charged well above or below cost," stated Kate Banks, senior vice president, MedAssets Net Revenue Systems. "Adding the system-wide view of cost and charge data helps to mitigate the risk of issues that are compounded when trying to manage and control processes across multiple facilities."
Initially launched in March 2005, CrossWalk is the keystone of the Merge Technology(TM) platform, MedAssets' suite of revenue cycle, supply chain, and decision support applications designed to solve healthcare providers' key operational problems to dramatically improve cash flow from existing operations.
"CrossWalk allows our facility to simulate markup formulas to test net revenue impact of various formulas. This eliminates the uncertainty we experienced previously when considering a change in markup strategy," said Siobhan Mee, director of Revenue Cycle Management, Maricopa Medical Center. "Maricopa has calculated a net increase of over $300,000 based on strategic markup alone. We also can tell auditors that we use CrossWalk to determine our markup strategy, and that our charges are directly related to costs. CrossWalk has increased our level of confidence in our prices tremendously."
To learn more about other MedAssets revenue cycle management tools, visit http://nrs.medassets.com/NRS/OvrvwVideo.htm or visit www.medassets.com.
About MedAssets
MedAssets, headquartered in Atlanta, Georgia, improves healthcare providers' margin and cash flow through revenue cycle and supply chain initiatives and decision support technology and services. As a strategic business partner, MedAssets can replace multiple vendors and decrease supply costs by 3-10 % and increase net patient revenue by 1-3 %. MedAssets Net Revenue Systems provides best-of-breed revenue solutions including defensible pricing, pre-bill charge capturing, and ongoing chargemaster management tools, all of which have been Peer Reviewed by the Healthcare Financial Management Association. MedAssets Net Revenue Systems also offers denials management and a tool to link supply cost data with charge data. MedAssets Supply Chain Systems is one of the fastest growing group purchasing organizations in the U.S. and builds customized solutions encompassing procurement of common medical supplies, pharmaceuticals, physician preference supplies, food and nutrition items, and capital equipment. The newly formed MedAssets Analytical Systems offers supply chain analytics and decision support tools while clinical and operational consulting services are provided through MedAssets' subsidiary, Aspen Healthcare Metrics. Avega Health Systems, a subsidiary of MedAssets, ranked "Best in KLAS" in Business Decision Support - KLAS Enterprises, LLC 2005. For more information about MedAssets go to www.medassets.com or contact Gary Johnson, corporate senior vice president of Marketing and Marketing Services, 100 North Point Center East, Suite 200, Alpharetta, GA 30022.
