Healthcare Supply Chain Management: Medassets CEO John Bardis (Part 7)

SM: How would you adjust national policy to drive more efficiency based business versus a cost plus system? JB: We need to align the physician and the hospital so that the smartest group of people in healthcare can be aligned with care. We need to eliminate regulations which prevent hospitals from incenting their caregivers to

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Healthcare Supply Chain Management: Medassets CEO John Bardis (Part 6)

SM: What is your revenue model like for your services group? Do you charge on a flat fee basis or do you have a success based fee model? JB: It depends on what the client would like. We often take on risk in very large transactions. We call those transformationals.

Healthcare Supply Chain Management: Medassets CEO John Bardis (Part 5)

SM: Let’s talk about your actual business model. How do you get paid with your system? JB: Once we learned that medical supply utilization was a critical element of determining reimbursement for hospitals, we embarked on a process of building the nation’s most comprehensive set of tools to manage revenue cycle for US hospitals and

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Healthcare Supply Chain Management: Medassets CEO John Bardis (Part 4)

SM: After completing two acquisitions, where were you in terms of revenue and profitability? JB: At that point we were $40 million in revenue and profitability was in the $13 million range. We had to determine, since we competed with extremely large national competitors, how we changed the value proposition in order to become relevant.

Healthcare Supply Chain Management: Medassets CEO John Bardis (Part 3)

SM: Your raised $55 million from two firms and then quickly had to change course from your original investment thesis. How did the investors react to that? JB: They have been terrific. They have been involved in every major decision the corporation has made, and they remain very active on the board.

Healthcare Supply Chain Management: Medassets CEO John Bardis (Part 2)

SM: How did you respond when your initial MedAssets business model did not work as well as you had hoped? JB: I was presented with an opportunity to acquire InSource Health Services, which was a small group purchasing organization formerly known as the Southern California Group Purchasing Services. That was in August of 1999.

Healthcare Supply Chain Management: Medassets CEO John Bardis (Part 1)

John Bardis is the chairman, president and CEO of MedAssets. He has over 23 years’ experience in the healthcare industry and has held various senior management positions with companies such as Baxter, Kinetic Concepts, and Theratx. He has also served as a member of the Advisory Board for High Bar Capital. SM: Let’s start with

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