Wednesday 10th April, 2013

MedAssets has entered into a multi-year strategic partnership with Ariba that will expand MedAssets ichain management and outsourced procurement capabilities.

The partnership offers healthcare providers and suppliers a comprehensive electronic commerce platform, including requisition to purchase order transmission, shipment notification, invoice transmission and reconciliation workflow automation, expense posting, supplier payment and early-pay discount solutions.

Through this partnership, healthcare providers will be able to conduct fully automated e-commerce with the nearly one million companies connected to the Ariba Network through the MedAssets eCommerce Exchange.

The combination of MedAssets’ technology-enabled services with Ariba’s cloud-based applications and business network aims to deliver unparalleled cost management and healthcare provider-supplier collaboration opportunities. Providers, for instance, will be able to eliminate up to 100 percent of paper invoices received from suppliers using Ariba’s "smart invoicing" applications, which automatically validate supplier-initiated electronic invoices through a provider-managed rules engine and post them directly to their accounting system for true "touchless" processing.

John Bardis, MedAssets chairman, president and chief executive officer, said: "This strategic partnership creates a total transaction management solution for healthcare organisations. We will use the strength of the nation’s largest shared services procurement organisation, with over $5 billion being transacted annually through our National Procurement Center, in combination with our world-class analytics and invaluable insights, to accelerate much needed savings initiatives for healthcare providers."