MedAssets, Inc. (MDAS), provider of technology-enabled products and services, recently announced a partnership with Procured Health to deliver a comprehensive approach for implementing better clinical value analysis programs.
Per the deal, MedAssets seeks to enhance its clinical value analysis consulting and services in association with Procured Health's proprietary data intelligence and collaboration technology platform.
Hospitals usually take help of the SaaS-based analytical tool and reciprocal purpose-built workflow to gain clarity regarding medical supply options and comparative safety and outcomes data. Owing to extensive market information and process oversight, the hospitals can thus utilize products more effectively while optimizing savings.
This new strategic partnership will help organizations embrace MedAssets’ value analysis models, expert services, and an analytics and product research platform. This, consequently, should boost assessment and purchase of high-expense physician preference items (PPI) and other medical/surgical supplies.
Notably, supplies have a major portion in a hospital’s expense category. MedAssets, with its clinician engagement programs designed to link financial and clinical data, helps to discover deficiencies and utilization variation. Subsequently, it helps an organization achieve cost optimization.
Of late, MedAssets has been awarded several contracts and renewals. AHMC Healthcare, Alhambra Hospital Medical Center, UNC Health Care and LHP Hospital Group renewed their relationships with MedAssets, while Baylor Scott & White Health awarded the company a new contract.
Notably, MedAssets also completed the acquisition of SG-2, a provider of healthcare business intelligence, market analytics and clinical consulting services.
The abovementioned acquisitions, contract wins and renewals should boost the long-term prospects of MedAssets, going forward. Moreover, these developments are also expected to help MedAssets gain an edge over its competitors like Premier Inc. (PINC), Accretive Health (ACHI) and athenahealth (ATHN).
Currently, MedAssets holds a Zacks Rank #2 (Buy).
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