PR - Ivinson Memorial Hospital Selects MedAssets for Revenue Cycle Solution

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.