50-plus IDNs On-Board, Successfully Driving Millions in Supply Savings
Six additional integrated delivery systems representing a wide range of healthcare services have chosen SpendAdvisor, Premier’s groundbreaking spend management decision-support tool. SpendAdvisor helps health systems reduce supply chain expenses, thereby benefiting patients and communities by applying innovative solutions to keep healthcare affordable.
Joining users that are identifying supply chain savings averaging 4 to 8 percent are:
* Adventist HealthCare, a network of healthcare providers based in Rockville, Md.;
* Baystate Health, an integrated health care system based in Springfield, Mass.;
* Greenville Hospital System, an academic health organization based in Greenville, S.C.;
* Hendrick Health System a healthcare network based in Abilene, Texas and serving the Texas Midwest;
* Saint Francis Health System, an integrated system that serves the greater Tulsa, Okla. area; and
* University Medical Center Health System, a healthcare network based in Lubbock, Texas, that serves the West Texas region.
“We are thrilled to have SpendAdvisor as a basis to help advocate supply cost reduction,” said Adam Wood, CMRP, Interim Director of Purchasing, Hendrick Medical Center. “Hendrick Health System is extremely excited about the visibility, reporting and analytic capabilities that SpendAdvisor will bring to our supply chain.”
Wood continued, “The ability to control supply costs in this dynamic market hinges upon the accessibility of good data and analytics for contractual management and negotiation. SpendAdvisor gives us the access to our information in a very timely manner that will allow Hendrick opportunities to control supply costs like never before.”
Premier Vice President of Product Development and Adoption Bill Marquardt said, “SpendAdvisor is essential to our partnership with our members, the basis for our continuing commitment to an aligned business model. It helps Premier members accelerate financial performance by aggregating, standardizing, and analyzing spend for quick and easy identification of savings opportunities.”
SpendAdvisor is the industry’s most advanced spend analytics solution offering a module to manage supply spend called My Spend and another module for Pharmacy Spend. The innovative and robust Web-based spend management decision-support tool leverages more than three years of experience as to how to best derive savings from advanced spend analytics.
SpendAdvisor is synchronized with Premier’s contract launches, leading-edge catalog, electronic price activation, and robust data infrastructure. In My Spend, Premier normalizes and standardizes an organization’s data from its materials system to maximize contract utilization and manage contract compliance.
Recently Premier rolled out next-generation enhancements that give the My Spend module of SpendAdvisor powerful new functionality to better support Premier members' business needs while improving usability and navigation. Members can now view a rollup of supply chain opportunities at the executive level and across customizable facility groups in larger healthcare systems so they can prioritize and set goals that will help guide them to top quartile supply chain performance.
More than 50 IDNs are on board and successfully using My Spend to drive millions of dollars in savings. It already covers more than $4.4 billion in supply spend, one of the largest databases in healthcare.
About Premier, 2006 Malcolm Baldrige National Quality Award recipient
Serving 1,700 hospitals and more than 47,000 other healthcare sites, Premier Inc. is the largest healthcare alliance in the United States dedicated to improving patient outcomes while safely reducing the cost of care. Owned by not-for-profit hospitals, Premier operates the nation's largest healthcare purchasing network, the most comprehensive repository of hospital clinical and financial information and one of the largest policy-holder owned, hospital professional liability risk-retention groups in healthcare. Headquartered in San Diego, Premier has offices in Charlotte, N.C., Philadelphia, and Washington. For more information, visit www.premierinc.com.