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University HealthSystem Consortium Adds Price Competitive Index to Its Spend Analytics Tool
Date:6/1/2009

OAK BROOK, Ill., June 2 /PRNewswire/ -- The University HealthSystem Consortium (UHC) today announced that a Price Competitive Index (PCI) enhancement has been added to SpendLINK(TM), UHC's proprietary supply chain spend analytics tool that helps academic medical centers (AMCs) optimize their pricing and achieve maximum savings.

Supply chain purchases represent 20% of a hospital's expenditure, making it the second largest expense after labor costs. In a complex AMC environment, supply costs may exceed $100 million annually.

"In these tough economic times, a tool such as SpendLINK(TM) with a focused instrument such as the PCI enhancement gives purchasers at AMCs the transparency needed to make smart decisions. Users will be able to maximize the value they receive from their supply partners," said Jake Groenewold, UHC vice president of supply chain services.

PCI, a unique scoring method for pricing competitiveness, will allow UHC member hospitals to:

  • Assess their price competitiveness by manufacturer or United Nations Standard Products and Services Code (UNSPSC) relative to other AMCs. Unlike other price comparison tools, SpendLINK(TM) permits AMCs to compare themselves with other health care organizations that have similar needs and challenges.
  • Work with clinicians to select the right products at the right price. SpendLINK(TM) provides data to support purchasing recommendations.
  • Verify that price quotes are reasonable when purchasing new items, based on comparisons with purchases made by UHC members within the last year.

All AMCs participating in UHC's supply chain services and some of their associated hospitals submit their spend data to UHC, creating a robust database from which the PCI and price benchmarks are derived.

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SOURCE University HealthSystem Consortium
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