Solution Manages Impact Of Declining Reimbursements
By Wendy Grafius, contributing writer
Baptist Health Care positions “organization for future of healthcare” with implementation of financial and operational initiatives to enhance overall performance management
By Wendy Grafius, contributing writer
Baptist Health Care (BHC), based in Pensacola, FL, has signed a multi-year agreement with MedAssets to utilize the healthcare performance company’s total cost management and operational efficiency solutions. The implementation is expected to lower costs, improve operational efficiencies, and align clinical delivery of the regional health system.
In the face of declining reimbursements along with greater accountability of care, BHC sought to standardize its care resources and best practice utilization while aligning the cost of care with clinical outcomes. “As we position our organization for the future of healthcare, we are focusing on a breadth of financial and operational initiatives to enhance overall performance management,” said Mark Faulkner, president and CEO of BHC.
MedAssets’ Strategic Sourcing, Operational Improvement, Clinical Resource Management, and Procure-to-Pay solutions, as well as Cost Analytics and Operational Analytics tools are all part of the BHC installation. “MedAssets offers a unique set of solutions that will enable our team to implement innovative strategies across the organization and support our goal of remaining a thriving, locally-owned, healthcare system,” said Faulkner.
The MedAssets engagement provides data-driven insights and analytics that will enable BHC to enhance collaboration with clinical teams in order to link the cost of care and utilization of resources with patient outcomes. “We are pleased that BHC has entrusted MedAssets in an advisory services role to analyze cost reduction opportunities for greater savings and financial viability,” said Keith Thurgood, president, spend and clinical resource management of MedAssets. “Our proven, holistic approach drives sustainable results and helps our healthcare clients to progress beyond traditional cost containment methods to optimize operations and improve quality care delivery.”
Baptist Health Care is a community-owned, nonprofit health system serving residents of northwest Florida and south Alabama. Baptist Hospital, the 492-bed flagship facility, provides care for oncology, heart and vascular, obstetrics and gynecology, orthopaedics, neurosciences, bariatrics, behavioral medicine, and general surgery. In 2012, it was recognized, along with sister facility, Gulf Breeze Hospital, by the Joint Commission on its list of “Top Performers in Key Quality Measures”. Other hospitals in the system include Jay Hospital, of Santa Rosa County, FL, and Atmore Community Hospital, located in Atmore, AL.
A member of the Mayo Clinic Care Network, further recognitions for BHC include the Malcolm Baldrige Award, the nation’s highest honor for quality and performance excellence, and the American College of Cardiology Foundation’s Platinum Performance Achievement Award for standards and excellence. The largest non-governmental employer in northwest Florida, more than 6700 employees and physicians of BHC provide care additionally at two medical parks, the Andrews Institute for Orthopaedic & Sports Medicine, Lakeview Center (for behavioral health), Baptist Medical Group, and Cardiology Consultants.
SOURCE: GlobeNewswire