Provider of technology-enabled products and services for hospitals, MedAssets, Inc. (MDAS), recently announced that the company’s Advisory Solutions enterprise consulting group will now offer Physician Compensation Alignment services.
The decision to offer this new service has been primarily led by the growing demand among hospitals, care systems and physicians to develop smarter integration strategies.
The latest suite of Physician Compensation Alignment services will render consultants capable of designing and implementing compensation plans and other financial terms for multiple hospital/physician alignment models and clinical specialties, including bundled payments.
The services require use of proprietary data analytics in order to deliver financial impact analysis, as well as third-party expert support for negotiating key terms of compensation and implementing governance structures.
Consequently, clients can avail more informed decision making and reduced administrative complexity before they enter into risk-based contracts, constructing and defining episodes of care and developing customized bundles and gainsharing programs.
The new service is expected to complement Advisory Solutions' prevailing set of services like Clinical Resource Management, Lean-related Operational Improvement Solutions, Workforce Solutions, Operational and Cost Analytics, and Revenue Cycle Performance Solutions.
MedAssets is looking to expand its Advisory Solutions engagements by increasing GPO contract compliance and client accounts and deploying deeper analytics capabilities. The recent contract renewal with LHP Hospital Group certainly underscores the company’s focus on its Advisory Solutions portfolio.
Furthermore, MedAssets has entered into a strategic partnership with Procured Health 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.
We believe that these partnerships will help MedAssets to win new contracts. Notably, MedAssets has also completed the acquisition of SG-2, a provider of healthcare business intelligence, market analytics and clinical consulting services. This further expands the capabilities of MedAssets Advisory Solutions.
We believe that contract wins and renewals will drive MedAssets results over the long term. Moreover, these developments are also expected to help the company gain an edge over peers like Premier Inc. (PINC), McKesson Corp. (MCK) and athenahealth (ATHN).
Currently MedAssets holds a Zacks Rank #2 (Buy).
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