PR - MedAssets Launches National Vendor Management Program

MedAssets (NASDAQ:MDAS) announced today the launch of a vendor management program designed to help hospitals fully develop and implement vendor policies. This turn-key vendor management program, developed and launched by MedAssets’ Spend Management segment, will also help address regulatory demands by providing vendor credentialing services offered by REPtrax, the emerging national standard in vendor credentialing.

Maureen Gender, president of the spend management segment, MedAssets, Inc. said, “With the aid of over sixty healthcare systems from MedAssets Supply Chain Systems’ advisory committees, our team spent the last year developing a vendor management program. Vendor credentialing was included in the program because having an established standard was identified as providing very high value for both healthcare providers and suppliers. Providers gain one point of management for all vendor credentials for regulatory demands. Vendors through one point of management gain a single passport that is acceptable by a large and growing group of hospitals, rather than having to be credentialed by multiple programs. Key factors in selecting REPtrax included value proposition to hospitals, ability to address regulatory demands, low cost for vendors as well as fairness to the entire vendor population. We are confident that our alignment with REPtrax to implement our vendor management program poises MedAssets to provide the best solution in the market for healthcare credentialing.”

The program will be managed by the Aspen Healthcare Metrics business unit. It will provide a suite of services including the creation and deployment of vendor credentials, focusing beyond just the actual documents, but into the hospital wide adoption and enforcement of these policies so that it becomes an integral part of the hospital’s culture. This consistent best practice approach will not only drive value to the hospital but to the vendor community as well.

“We are elated about MedAssets’ decision to leverage the REPtrax platform for their vendor management program. This decision reflects their commitment to providing a solution that drives value to the hospitals as well as to the vendor, which is of paramount importance in order to have a national standard flourish,” said Peter Sheehan, Business Development for the REPtrax platform. “The REPtrax platform is of no charge to the hospital, and vendors that join the REPtrax community can have the confidence that their universal membership will be valid for all REPtrax hospitals, very much like an electronic passport. This is why REPtrax has proven to be the vendor management program with the lowest overall cost to healthcare.”

MedAssets 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.