What is Vizient®?
Vizient Inc., the country’s largest member-owned health care services company, is dedicated to providing innovative data-driven solutions, expertise and collaborative opportunities that lead to improved patient outcomes and lower costs. The company represents the integration of VHA Inc., University HealthSystem Consortium and Novation on April 1, 2015, and the subsequent acquisition of MedAssets’ Spend and Clinical Resource Management segment, including Sg2, on Feb. 15, 2016.
The Vizient name became official on Nov. 17, 2015.
Together as one company, Vizient is proud to serve a broad range of health care organizations – from academic medical centers and pediatric facilities to acute and non-acute community health providers. In fact, nine out of 10 hospitals named to US News and World Report's honor roll in 2015-2016 have used our contracts and services. Combined purchasing volume is approximately $100 billion annually.
VHA, University HealthSystem Consortium, Novation and MedAssets were all well-known in the industry, why change the company name?
In uniting our organizations, we are bringing together proven strengths in group purchasing, data and analytics, performance improvement, strategic insight and consulting services. We believe that unifying the companies under one name strengthens our ability to serve and simplifies how we do business. We believe our new identity signifies innovative connections that accelerate performance and distinguishes us in a highly competitive landscape.
How do organizations benefit from doing business with Vizient?
Vizient helps drive quality, efficiency and cost performance across the care continuum. Members achieve cost savings by purchasing supplies and services through agreements negotiated with Vizient's supply contractors. They also gain insight into clinical, financial and operational performance improvement opportunities through advanced analytics and advisory services. Finally, through proprietary networks, they learn from peers and share leading practices, improve target outcomes for quality and safety, and build market strategies that position them to thrive in today’s health care industry.
Does Vizient own hospitals?
Vizient does not own any hospitals or other health care provider organizations.
How is Vizient governed?
Vizient is governed by a 22-member board of directors. Board members include chief executives and physician leaders from our member health systems as well as industry leaders from outside the Vizient alliance.