LOUISVILLE, Colo., Sept. 22 /PRNewswire/ -- GHX today announced that is has joined the Oracle((R)) PartnerNetwork. Through this membership, GHX will have further insight into Oracle products as well as access to sales and marketing resources and specialized training for Oracle partners.
Hospitals that are mutual customers of GHX and Oracle can streamline the ability to review real-time data to make more strategic and cost-effective purchasing decisions. Customers can access GHX's validated data repositories from within their Oracle and/or PeopleSoft procurement applications. Clinicians and others responsible for requisitioning products are then able to search their specific contracts for items and, as necessary, find additional product information to source the best products to meet their needs. By improving compliance and price validation, the combined GHX and Oracle solution addresses a primary challenge for hospitals working to contain healthcare costs--how to effectively manage highly dynamic product and contract information.
On average, changes are made each year to one-third of the 30 million-plus medical-surgical products on the market in the U.S. Further, each group purchasing organization (GPO) is estimated to make as many as 30,000 changes to contract data each month. With data changing so frequently, it is difficult for hospitals to effectively maintain accurate, up-to-date and enriched data in their systems. As a result, hospitals often purchase products at higher costs and are unable to achieve better pricing.
By using Oracle and GHX to validate GPO pricing, hospitals can easily identify which products are on contract for their facilities. If they cannot find a product they need that is on contract, clinicians and other authorized personnel can search GHX's database of nearly one million items by various criteria including part number, manufacturer name, UNSPSC classification and key words found in product descriptions. Product data is validated on an ongoing basis with suppliers by the GHX Advanced Content team.
"By working with leading vendors, such as Oracle, as well as the majority of suppliers and GPOs, we can make it easier for hospitals to dynamically access the data they need to develop more strategic, accurate and streamlined procurement processes," said Rammi Gill, general manager for GHX Financial Services. "This fully integrated solution allows hospitals to maximize their investment in their procurement applications and the value of their GPO relationships and contracting efforts."
As the business hub for healthcare, Global Healthcare Exchange, LLC (GHX) enables healthcare providers and suppliers in North America and Europe to reduce costs and improve margins by automating processes, reducing operating expenses and increasing knowledge-based decision making. Products and services include trading partner connectivity, order and contract management and validation, data synchronization, sales force automation and business intelligence. Equity owners of GHX are Abbott Exchange, Inc.; AmerisourceBergen Corp.; Baxter Healthcare Corp.; B Braun Medical Inc.; BD; Boston Scientific Corp.; Cardinal Health, Inc.; Covidien; C.R. Bard, Inc.; Fisher Scientific International, Inc.; GE Healthcare; HCA; Johnson & Johnson Health Care Systems Inc.; McKesson Corp.; Medtronic USA, Inc.; Owens & Minor; Premier, Inc.; Siemens; University HealthSystem Consortium; and VHA Inc. For more information, visit www.ghx.com.
About the Oracle PartnerNetwork
Oracle PartnerNetwork is a global business network of more than 20,000 companies who deliver innovative software solutions based on Oracle software. Through access to Oracle's premier products, education, technical services, marketing and sales support, the Oracle PartnerNetwork program provides partners with the resources they need to be successful in today's global economy. Oracle partners are able to offer their customers leading-edge solutions backed by Oracle's position as the world's largest enterprise software company. Partners who are able to demonstrate superior product knowledge, technical expertise and a commitment to doing business with Oracle qualify for the Certified Partner levels. http://oraclepartnernetwork.oracle.com
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