IRVING, Texas--(BUSINESS WIRE)--Purchased services generally accounts for more than 20 percent of a hospital’s total annual expenses and includes more than 300 product categories. To help supply chain professionals efficiently tap into savings opportunities for these services, Vizient, Inc. has launched a new purchased services module within its Savings Actualyzer supply analytics platform. The new module enables supply chain managers to view categorized spend, identify opportunities for standardization and see comparative performance data for its purchased services.
“In 2016, we launched Vizient Savings Actualyzer which gave supply chain managers the unprecedented ability to make reliable, data-based purchasing decisions across multiple supply chain areas, including medical surgical supplies, capital equipment and pharmacy,” said Ernest “Chip” Bunata, associate vice president, Product Delivery. “The new purchased services module adds important new functionality and insights that can lower costs in an area of the supply chain that is ripe for performance improvement from both a contracting and operational efficiency perspective.”
Nine Vizient member organizations piloted the new purchased services module from January to October 2017. Those piloting the module found the platform’s intuitive interface, quick access to vendors by category, connectivity to related contacts, and categorized data graphically displayed or exported at the click of a button as unique or industry-leading features that make the solution a value to users. Specific features of the new purchased services module include:
- Smart categorization: Complex purchased services dataset classified by intelligent software on a timely basis
- Insight into spend: Quickly and easily understand purchased services spend across categories, facilities and cost centers, down to the line item level
- Uncover savings: Compare spend to other health systems ‘like you’ and understand where you can save
- Access to subject-matter experts: Get access to our knowledgeable advisory and consulting services
- Linkage to contracts: Identify existing contracts to capture savings
Vizient Savings Actualyzer and the new purchased services module is the culmination of member feedback and participation in the ongoing enhancement of the supply analytics platform. “Our commitment to collaboration helps us develop and deliver solutions that enable providers to meet their quality and financial goals. With the new purchased services module, users will be able to link purchased services opportunities to existing Vizient contracts or engage the Vizient advisory solutions team, to maximize both savings and value,” said Bunata.
To help understand where your health system is when it comes to identifying and acting on purchased services savings opportunities, download our white paper.
About Vizient, Inc.
Vizient, Inc., the largest member-driven health care performance improvement company in the country, provides innovative data-driven solutions, expertise and collaborative opportunities that lead to improved patient outcomes and lower costs. Vizient’s diverse membership base includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute health care providers and represents more than $100 billion in annual purchasing volume. The Vizient brand identity represents the integration of VHA Inc., University HealthSystem Consortium and Novation, which combined in 2015, as well as MedAssets’ Spend and Clinical Resource Management (SCM) segment, including Sg2, which was acquired in 2016. In 2017, Vizient again received a World’s Most Ethical Company designation from the Ethisphere Institute. Vizient’s headquarters are in Irving, Texas, with locations in Chicago and other cities across the United States. Please visit www.vizientinc.com as well as our newsroom, blog, Twitter, LinkedIn and YouTube pages for more information about the company.
