Navigation Links
Healthcare Providers Gain Control of Demand Channels With GHX Procurement Suite; 12 Percent Supply Spend Savings Achievable
Date:10/8/2010

LOUISVILLE, Colo., Oct. 8 /PRNewswire/ -- A growing number of healthcare providers are choosing the Procurement Suite solution by GHX to gain better control over non-file, off-contract spending, focusing on high-cost medical-surgical supplies. Leveraging the capabilities of Procurement Suite, healthcare decision-makers receive sound content, accurate contract price validation and contract alignment during the procurement process, rather than after the fact. With greater contract compliance, financial models calculate that providers can reduce their supply chain costs by 12 percent.*

Supply chain costs typically account for 30 percent or more of a hospital's total operating expense—second only to labor—and are increasing faster than any other operating expense. And Datamonitor Group, a provider of global business information, estimates that 40 percent of the average hospital's annual spend is non-file, meaning it is not in the hospital's enterprise resource planning (ERP) system or materials management information system (MMIS). As a result, that spend is not easily managed.

Procurement Suite combines the healthcare supply chain's most accurate content management platform, contract optimization capabilities and connectivity to suppliers from which hospitals purchase products to enable process efficiency while driving contract compliance. The solution provides a foundation of accurate data with an easy-to-use interface designed to capture procurement occurring outside of materials management, helping ensure the correct products are easily identified, sourced and procured.

Among those selecting Procurement Suite is Champlain Health Supply Services, a shared service organization that provides integrated supply chain services to 12 hospitals in the greater Ottawa area.

"Building on a foundation of accurate, up-to date data—which is crucial—we will be able to capture demand electronically at the time the demand is generated while also having a better view into our supply chain," said John Martin, director Hospital Services, Queensway Carleton Hospital, and regional lead for Integrated Supply Services for CHSS. "That will help enable our member hospitals to cut supply chain costs by better managing their supply spend to take advantage of contract pricing. It is a large part of our vision to make our supply chain a strategic asset."

Rammi Gill, executive director of Finance and Procurement at GHX, said the source and quality of the data available through Procurement Suite is the key to achieving the greatest savings. "Unlike any other solution in healthcare, the data presented within Procurement Suite can have enriched, normalized descriptions and UNSPSC categorization," Gill said.

"The GHX content management platform leverages the largest online repository of data, which has been validated by both GHX content experts and healthcare suppliers," he said. "This means it's the most current and accurate source of data available to healthcare providers, driving greater accuracy in the reports generated by Procurement Suite and enabling providers to reduce costs by 12 percent."

* Savings were calculated using a process validated by PRTM, the global management consulting firm that developed a supply chain operations measurement process. Small, medium and large facilities were independently modeled and results showed that no matter the size of the health system, 12 percent savings can be realized.

About GHX

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.; Thermo Fisher Scientific 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.


'/>"/>
SOURCE GHX
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. ADVENTRX to Participate in Informed Investors Forum Biotech, Healthcare & Pharma Virtual Conference on October 13
2. Novartis Committed to Supporting Patients and Healthcare Professionals with Education Programs and Support Services that Enhance Access to Gilenya
3. Aging of America: Demographics of Demand and Profits in Healthcare
4. Self Regional Healthcare Becomes First in the Southeast to Treat Spine Patients Using Advanced Integrated Operating Room Technology From Brainlab
5. Realizing Healthcare Savings Using Real-Time Technology
6. Healthcare Providers Rate Elektas MOSAIQ Oncology Information System as No. 1 in 2010 KLAS Report
7. Reportlinker Adds US Pharmaceutical Market Overview - Healthcare reform, economic pressures and the patent cliff set to impact Pharma
8. RoundTable Healthcare Partners Portfolio Company, Argon Medical Devices, Inc., Acquires Critical Care and Extended Dwell Catheter Product Platforms From BD
9. Octapharma USA Launches Web Resource for von Willebrand Disease Healthcare Professionals and Patients
10. Innovations to Omron Healthcare Home Blood Pressure Monitors Provide New Solutions for Consumers
11. United American Healthcare Corporation Announces Results of Annual Meeting of Shareholders
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... Story Highlights: ... the health care industry is causing providers to review ... Deloitte offers a suite of solutions for health care ... cost optimization: labor resource analysis, revenue cycle optimization and ... outcomes and better economics ...
(Date:6/24/2016)... , June 24, 2016 ... has announced the addition of the " Global ... This report ... provides an updated review, including its applications in various ... total market, which includes three main industries: pharmaceutical and ...
(Date:6/24/2016)... , June 24, 2016 Research ... World Market for Companion Diagnostic Tests" report to their ... Market for Companion Diagnostics The World Market ... and personalized medicine diagnostics. Market analysis in the report includes ... Test Market (In Vitro Diagnostic Kits) by Region (N. America, ...
Breaking Medicine Technology:
(Date:6/25/2016)... Washington, D.C. (PRWEB) , ... June 25, 2016 ... ... will discuss health policy issues and applications at AcademyHealth’s Annual Research Meeting June ... share their work on several important health care topics including advance care planning, ...
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern Californian, ... and his M.D from the David Geffen School of Medicine at UCLA. He trained ... Angeles to complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where ...
(Date:6/24/2016)... , ... June 24, 2016 , ... Those who have ... these feelings, many turn to unhealthy avenues, such as drug or alcohol abuse, as ... Michigan, has released tools for healthy coping following a traumatic event. , Trauma sufferers ...
(Date:6/24/2016)... ... June 24, 2016 , ... Dr. Amanda Cheng, ... treatment. Dr. Cheng has extensive experience with all areas of orthodontics, including robotic ... osteogenic orthodontics. , Micro-osteoperforation is a revolutionary adjunct to orthodontic treatment. It ...
(Date:6/24/2016)... New York, NY (PRWEB) , ... June 24, ... ... lifestyle publication Haute Living, is proud to recognize Dr. Barry M. Weintraub as ... believes that “the most beautiful women in the world, and the most handsome ...
Breaking Medicine News(10 mins):