MedAssets, Inc.announced today that it has expanded its revenue cycle management services agreement with the Hospital Division of Kindred Healthcare, Inc. (NYSE: KND - News), a leading provider of post-acute services, including long-term acute care hospitals, nursing centers and contract rehabilitation services. Software and service solutions have been added to the expanded agreement in order to help Kindred’s Hospital Division track, appeal and recover underpayments or lost revenue from payors.
The expanded agreement includes the implementation of MedAssets’ revenue cycle management software and service solutions to improve the monitoring, identification and recovery of reimbursement underpayments from payors. MedAssets will also help to appeal retrospective clinical and technical denials and recover lost revenue through use of the Company’s contract management and denial management expertise. These solutions are in addition to the existing revenue cycle management capabilities Kindred uses today which include MedAssets’ chargemaster management, pricing services, and billing and coding content research tools.
Kindred’s Hospital Division operates 82 long-term acute care hospitals in 24 states. Kindred’s hospitals provide care to medically complex patients who require prolonged treatment plans and extended recovery time. These patients have serious medical conditions best treated by a physician-directed interdisciplinary team of healthcare professionals, including respiratory therapists, nurses, pharmacists, physical therapists, occupational therapists and dietitians.
"Through our relationship with MedAssets, we expect to enhance our claims management and collections process, improve overall revenue integrity, and increase cash flow,” said Benjamin A. Breier, Executive Vice President of Kindred Healthcare and President of the Company’s Hospital Division. “Positive revenue, cash flow and operating efficiencies that can be gained from our engagement with MedAssets should help Kindred continue to reinvest in our facilities, new technology and existing programs to further support our quality of care and improve our operations across the U.S."
Rand Ballard, chief operating officer and chief customer officer, MedAssets, Inc. stated, “We are pleased to expand upon our relationship with Kindred Healthcare and are dedicated to helping retrieve lost dollars within their revenue stream so that they may better serve their communities.”
MedAssets’ mission is to improve the financial health of healthcare providers so they can continue to provide the highest quality of care in their communities.
About MedAssets
MedAssets (NASDAQ: MDAS - News) 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, 3,300 hospitals and 30,000 non-acute care healthcare providers. For more information, visit www.medassets.com.
About Kindred Healthcare
Kindred Healthcare, Inc. is a healthcare services company, based in Louisville, Kentucky, with annual revenues of over $4 billion and approximately 53,700 employees in 40 states. At December 31, 2008, Kindred through its subsidiaries provided healthcare services in 655 locations, including 82 long-term acute care hospitals, 228 skilled nursing centers and a contract rehabilitation services business, Peoplefirst rehabilitation services, which served 345 non-affiliated facilities. Kindred’s mission is to promote healing, provide hope, preserve dignity and produce value for each patient, resident, family member, customer, employee and shareholder we serve. For more information, go to www.kindredhealthcare.com.
mdas/B
Contact:
MedAssets, Inc.
Media Contact:
Regina Haas, 678-624-7420
pr@medassets.com
or
MedAssets, Inc.
Investor Relations Contact:
Robert Borchert, 678-248-8194
rborchert@medassets.com
Source: MedAssets, Inc.
The expanded agreement includes the implementation of MedAssets’ revenue cycle management software and service solutions to improve the monitoring, identification and recovery of reimbursement underpayments from payors. MedAssets will also help to appeal retrospective clinical and technical denials and recover lost revenue through use of the Company’s contract management and denial management expertise. These solutions are in addition to the existing revenue cycle management capabilities Kindred uses today which include MedAssets’ chargemaster management, pricing services, and billing and coding content research tools.
Kindred’s Hospital Division operates 82 long-term acute care hospitals in 24 states. Kindred’s hospitals provide care to medically complex patients who require prolonged treatment plans and extended recovery time. These patients have serious medical conditions best treated by a physician-directed interdisciplinary team of healthcare professionals, including respiratory therapists, nurses, pharmacists, physical therapists, occupational therapists and dietitians.
"Through our relationship with MedAssets, we expect to enhance our claims management and collections process, improve overall revenue integrity, and increase cash flow,” said Benjamin A. Breier, Executive Vice President of Kindred Healthcare and President of the Company’s Hospital Division. “Positive revenue, cash flow and operating efficiencies that can be gained from our engagement with MedAssets should help Kindred continue to reinvest in our facilities, new technology and existing programs to further support our quality of care and improve our operations across the U.S."
Rand Ballard, chief operating officer and chief customer officer, MedAssets, Inc. stated, “We are pleased to expand upon our relationship with Kindred Healthcare and are dedicated to helping retrieve lost dollars within their revenue stream so that they may better serve their communities.”
MedAssets’ mission is to improve the financial health of healthcare providers so they can continue to provide the highest quality of care in their communities.
About MedAssets
MedAssets (NASDAQ: MDAS - News) 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, 3,300 hospitals and 30,000 non-acute care healthcare providers. For more information, visit www.medassets.com.
About Kindred Healthcare
Kindred Healthcare, Inc. is a healthcare services company, based in Louisville, Kentucky, with annual revenues of over $4 billion and approximately 53,700 employees in 40 states. At December 31, 2008, Kindred through its subsidiaries provided healthcare services in 655 locations, including 82 long-term acute care hospitals, 228 skilled nursing centers and a contract rehabilitation services business, Peoplefirst rehabilitation services, which served 345 non-affiliated facilities. Kindred’s mission is to promote healing, provide hope, preserve dignity and produce value for each patient, resident, family member, customer, employee and shareholder we serve. For more information, go to www.kindredhealthcare.com.
mdas/B
Contact:
MedAssets, Inc.
Media Contact:
Regina Haas, 678-624-7420
pr@medassets.com
or
MedAssets, Inc.
Investor Relations Contact:
Robert Borchert, 678-248-8194
rborchert@medassets.com
Source: MedAssets, Inc.
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