MedAssets, Alpharetta, Ga., has become the fourth group purchasing organization to formally adopt a code of business conduct since a Senate subcommittee last year ordered the industry to clean up its act or face regulation. The MedAssets code of conduct does not mark any fundamental change in policy or business practices for the company but is a formal articulation of many procedures already in place, said John Bardis, CEO and chairman. As a result, MedAssets adopted two new formal policies, said Jonathan Glenn, executive vice president and chief legal officer. They are: Employees involved in contract decisionmaking cannot own equity in any vendor or prospective vendor, and MedAssets officers cannot serve on the board of any vendor. A source with the Senate Judiciary antitrust subcommittee said the MedAssets code represents another step forward. Premier, Novation and Consorta previously adopted similar codes. "The code that went the furthest was Premier's," the source said. The subcommittee is still working with AmeriNet and Broadlane to adopt their own versions. -- by Cinda Becker
MedAssets joins other GPOs with formal ethics code
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