WaveMark is Awarded a Contract by MedAssets Supply Chain Systems to Provide RTIM Solution for Customer Hospitals to Optimize High-Value Inventory and Workflow
WaveMark CIMS is Contracted Solution for MedAssets’ 3,300 Hospital and IDN Customers
Littleton, MA– January 28, 2009 – WaveMark, Inc., a leading provider of real-time inventory management (RTIM) solutions for high value medical products, today announced its clinical inventory management solution, WaveMark CIMS™, has been awarded a contract by MedAssets Supply Chain Systems as a solution for customer hospitals and hospital networks to manage high value, specialty inventory.
MedAssets Supply Chain Systems is one of the nation's largest group purchasing organizations providing innovative solutions for healthcare providers to improve their margins and cash flow. MedAssets awards vendor contracts based on the review of extensive criteria including product quality and customer service. WaveMark’s proven performance in providing a solid ROI, improved clinical workflow as well as patient safety and regulatory compliance are several key potential benefits available to MedAssets’ customers. The terms of the contract make WaveMark CIMS immediately available to MedAssets’ customer base of over 3,300 hospitals and IDNs.
"Strong GPO relationships like this are integral to hospitals getting access to the best technology solutions to address their key concerns. WaveMark is proud that our solution meets the rigorous requirements of MedAssets and is eager to assist hospitals in optimizing their inventory to ensure product availability to maximize cost containment and patient safety,” said Patrick Littlefield, founder of WaveMark.
Already successfully deployed in hospital labs across the country, WaveMark CIMS helps hospitals achieve optimized inventory levels, better management of product expirations and recalls, and improved charge capture. WaveMark CIMS uses RFID cabinets and Point of Service readers to collect information that enables real-time inventory management. The use of RFID in the process ensures accuracy and timeliness of information captured and the streamlined workflow enables clinicians to spend more time on patient care and less time manually tracking inventory and product usage.
About WaveMark
WaveMark, Inc. is a leading provider of real-time inventory management (RTIM) solutions for high value medical products. WaveMark leverages its proven expertise in Radio Frequency Identification (RFID) and network technology to help healthcare providers and medical device suppliers address key concerns in healthcare including cost containment, patient safety, and regulatory compliance. Committed to a more efficient healthcare supply chain, WaveMark’s solutions are available on a subscription basis and eliminate manual processes, reduce costs and streamline workflows for hospitals and suppliers. WaveMark’s clinical and field inventory solutions offer product-level visibility and highly effective inventory control, which support regulatory compliance and a rapid return on investment. WaveMark was founded in 2003 and has been deployed in specialty areas such as Cardiovascular Labs, Electrophysiology Labs, Interventional Radiology Suites as well as Operating Rooms. For more information, visit www.wavemark.net.
About MedAssets
MedAssets (NASDAQ: MDAS) 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.
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Contacts:
Colleen Terry, Director of Marketing, WaveMark
colleen.terry@wavemark.net
www.wavemark.net
+1.978.431.1600