THANK YOU FOR SUBSCRIBING
Weekly Brief
Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Healthcare Tech Outlook
Vizient: Vizient Savings Actualyzer -A New View for Supply Chain Analytics
Each day, in hospitals across the country, supply chain professionals log into analytics tools to benchmark prices on hundreds of medical supplies and pharmacy items. With a few keystrokes they can understand how competitive their prices are in the market, and they can use that information to prioritize the biggest opportunities for the most savings. However, after benchmarking is done, the work that actually delivers price performance typically reverts back to a manual process, supported by decentralized, static Excel spreadsheets.
It was this gap in functionality that led to the birth of Vizient Savings Actualyzer™. This exciting new supply chain analytics platform from Vizient is the industry’s first price benchmarking solution that unites supply chain data in a new way, allowing users to view it in one place and easily and immediately make the connections to prioritize, track, and measure savings.
Groundbreaking innovation is nothing new to Vizient Inc., the largest member-driven healthcare performance improvement company in the country. “In 2008, we defined supply price benchmarking for healthcare. With the launch of Vizient Savings Actualyzer, we are doing it again,” explains Thomas Rogers, Sr. Director, Supply Chain Solutions Marketing, Vizient.
So what makes Vizient Savings Actualyzer different? First, the platform evaluates a wide range of opportunities for market price competitiveness including contract portfolio and capital equipment quotes. In short, the solution operates as an integrated opportunity engine that analyzes pricing opportunities across multiple fronts.
Second, Vizient Savings Actualyzer subscribers enjoy a dynamic, single-source connection to the industry’s largest repository of supply market data. This capability delivers invaluable market comparatives and enables easy access to Vizient contracts for seamless pricing requests.
Third, Vizient Savings Actualyzer speeds organizations from opportunity identification to savings implementation.
Our research indicated that what hindered team efficiency more than anything was a lack visibility when it comes to tracking progress of current initiatives and measuring true savings of those initiatives
It does this by empowering users to move prioritized opportunities into two additional phases: track and measure.
“Our research indicated that what hindered team efficiency more than anything was a lack visibility when it comes to tracking progress of current initiatives and measuring true savings of those initiatives. With Vizient Savings Actualyzer, users set terms of accountability with their teams, define measures of success and have more time to pursue additional savings opportunities,” explains Ernest Chip Bunata, Associate Vice President Advisory Services, Vizient.
With the launch of Vizient Savings Actualyzer, the Irving-based firm will challenge organizations to take a broader view when it comes to supply chain savings. It should be noted, however, that the solution was not designed in a vacuum. Vizient Savings Actualyzer is the culmination of member feedback and participation in the development of the platform.
“At Vizient, we push very hard to ensure teamwork and transparency in order to help us improve quality of operations and what we ultimately deliver to our clients to ameliorate their operations and outcomes,” says Bunata. “Our drive to respond to the unique needs of every customer makes us stay ahead of the competition.”
