University of Florida Health Shands Hospital Uses Medpricer Analytics™ to Identify Savings Opportunities in Purchased Services

GUILFORD, CT, JANUARY 31, 2017

University of Florida Health Shands Hospital (UF Health Shands) has selected Medpricer Analytics™ to gain additional visibility into their Purchased Services operating costs enabling them to gain stakeholder attention, improve vendor standardization, reduce costs and to track savings.

“Through our relationship with Medpricer, we are able to demonstrate greater value to our stakeholders,” said Brenda Morgan, Project Manager, Supply Chain Services at UF Health Shands. “Using Medpricer Analytics™, we have additional visibility into our Purchased Services spend and have access to spend data by department, cost center and supplier. The powerful visual reports equip me with the information I need to have meaningful conversations with my internal customers to collaboratively identify and prioritize savings opportunities.”

Medpricer Analytics™, developed specifically for healthcare providers, offers visibility into provider Purchased Services spend, illustrates savings opportunities and monitors spend and savings over time. Medpricer Analytics™ includes a cloud software interface with customized data views and reports that:

  •     Characterizes Purchased Services spend and identifies spend trends by supplier, facility, cost center and stakeholder grouping.
  •     Provides real time visibility into Purchased Services spend, suppliers, and contract compliance including detection of new or unapproved suppliers.
  •     Monitors projected savings for all suppliers and categories by facility or stakeholder group and tracks progress of savings initiatives.

“Accessing Purchased Services data across multiple systems, characterizing it, interpreting it and acting on it, is not easy,” says Chris Gormley, CEO of Medpricer. “Starting with Medpricer Analytics, we are pleased that UF Health Shands is able to empower their stakeholders and more effectively manage the sourcing process, uncovering savings opportunities and reducing sourcing cycle time for faster savings. Combining Medpricer Analytics™ with our eSourcing platform ensures their savings strategies are working for long term sustainability.”

About Medpricer

Medpricer is healthcare’s leading cost management platform for purchased services and offers the industry’s only comprehensive Purchased Services System to blend cloud-based technology with on-demand consulting services across analytics, sourcing and benchmarking. Using Medpricer, healthcare providers can realize an average of 24% savings and a 40% faster sourcing cycle.

January 31st, 2017|Portfolio Company News|