Press Room
Press Release
CONSORTA JOINS FORCES WITH MEDASSETS ANALYTICAL SYSTEMS TO
DECREASE COSTS AND IMPROVE EFFICIENCIES FOR ITS MEMBERS
Schaumburg, Ill., January 15, 2007 - Consorta,
Inc., a leading healthcare group purchasing and resource management
organization, and MedAssets, Inc., a cash flow improvement company,
today announced they have entered into an agreement to provide
Consorta shareholders and participants nationwide with MedAssets
Analytical Systems' supply chain management services and technology.
MedAssets Analytical Systems tools will offer Consorta and its
members increased transparency into their supply chain operations in
order to enhance decision making, improve contract compliance, and
aid Consorta in attracting new shareholders. The agreement is
effective February 1, 2007.
"Our new relationship with MedAssets Analytical Systems will greatly
benefit our shareholders and Consorta," said, Joseph Ciccolo, Senior
Vice President, Support Services, Caritas Christi Health Care System
and member of Consorta's Executive Committee. "It will not only help
us meet our system's goals to reduce supply chain costs by rendering
our spend data in a more usable and actionable state, but it will
also assist Consorta in developing a program that the shareholders
view as essential for Consorta's continued success and growth."
MedAssets Analytical Systems' Strategic Information Services
aggregates, normalizes and analyzes supply chain data from single or
multiple facilities and provides greater transparency and control of
the total supply spend. Information is compiled and provided in
actionable formats such as opportunity analyses and executive
summaries to clearly identify specific courses of action. Strategic
Information monitors and maintains the accuracy and compliance
levels of Consorta's national group purchasing and members' locally
negotiated contracts. Additionally, on an "as-requested" basis,
MedAssets Analytical Systems' Client Item File Services can be
engaged to assist in standardization and maintenance of individual
shareholders' supply item files.
"The objective of the MedAssets and Consorta collaboration is to
help our shareholders and their members reach their savings goals
faster," explained Anna Fox, Vice President, Contract Operations and
Data Management at Consorta. "Without tools and processes to
normalize spend data, it becomes nearly impossible to identify
timely opportunities. By offering established and proven supply
chain services and technology to our members, we will increase
contract compliance and capture the fees and rebates that are owed
to our shareholders." Fox added that "Consorta performed significant
due diligence to identify the right technology partner, and at the
conclusion a decision was made to align with MedAssets Analytical
Systems."
"We are pleased to work with Consorta in providing our supply chain
technology and services to its member facilities," stated Mike
Cassady, President, MedAssets Analytical Systems. "The efficiencies
and transparency created with our tools will directly and positively
impact the bottom line of the individual facilities, and in turn,
positively affect the entire Consorta organization."
About MedAssets
MedAssets partners with healthcare providers to improve operating
margins and cash flow while supporting quality of care goals.
MedAssets implements integrated solutions to address the greatest
opportunities for financial and process improvement and drives
performance in revenue cycle, supply chain and clinical service line
management. MedAssets is a business partner to more than 2,400
hospitals and 25,000 non-acute care healthcare providers. For more
information, go to
www.medassets.com.
About Consorta
Consorta, based in suburban Chicago, is a leading
healthcare resource management and group purchasing organization
whose shareholders are faith-based or non-profit health systems.
Consorta's 12 shareholder healthcare systems are among the leading
integrators of non-profit healthcare in America. Consorta's
membership now encompasses more than 3,280 care sites, including
more than 530 acute care and over 250 extended care facilities
throughout the country. Consorta provides contract purchasing power
for some of the nation's leading non-profit organizations, including
America's Blood Centers, the American Red Cross, the American Heart
Association, America's Promise, Camp Fire USA, Catholic Charities
USA, Girls Incorporated, Lutheran Services in America, National
Council on Aging, National Mental Health Association, Salvation
Army, Save the Children Foundation, United Way of America and YWCA
USA. Consorta, Inc. is located at 1475 E. Woodfield Road, Suite 400,
Schaumburg, Illinois 60173. Phone (847) 592-7800, Fax: (847)
592-7801. Website:
www.consorta.com.
Press Contact:
Debra Lynn Ross
dross@consorta.com
847-592-7864