Improve spend management with Vizient healthcare supply analytics
Access our data to understand how healthcare price benchmarking helps you identify savings opportunities that will help improve spend management across your organization. Vizient delivers member access to the industry’s largest repository of supply data for healthcare price benchmarking and offers customized analytics so you can pinpoint and implement savings and better expense.Download the fact sheet
Emerson Hospital saves $5.6M and reduces price index by 55% with Vizient healthcare supply analytics
Emerson Hospital needed guidance to thrive in the midst of a challenging marketplace and the continual shift to value-based care. Through a combination of real-time healthcare contract analytics and insights, strategic programs and expert guidance, Emerson took its supply chain to the next level.
Analytics and healthcare price benchmarking to optimize your supply spend
Our healthcare supply chain analytics allow members to identify cost saving opportunities on medical and surgical supplies, easily implement those supply savings and benchmark for performance improvement.
Maximize the impact of every dollar you spend
Hospitals need to maximize every dollar of their supply spend to ensure efficient supply chain operations. We assemble data in one location from multiple sources to help members better understand spending, analyze savings opportunities, develop price benchmarks and track results over time. As a data-enabled, services-led company, Vizient integrates data, technology and expertise to deliver significant savings for your supply chain.
Get access to market data beyond compare
- More than $201 billion in supply spend data
- Purchasing data from more than 3,100 health systems
- Data from more than 2,100 national contracts
- More than 715,000 product line items
In supply spend data
Optimize price and contract utilization
Our healthcare Contract Analytics allow you to identify greater value and it also delivers actionable insights for your sourcing strategy. Using the analytics enables easy access to savings opportunities and includes prior year, rolling 12 months of spend information to help assess and adjust due to abnormal spending patterns, such as with the COVID-19 pandemic.
Get insights to optimize contract and price performance
- Optimize and manage contract utilization and strategic program value
- Measure contract penetration and optimize price in contract portfolio
- Assess savings opportunities of future-dated contracts
- Transition from an expiring contract to a replacement contract
Calculate price benchmarking opportunities
Use our healthcare Price Benchmarking to calculate price benchmarking opportunities on medical and surgical supplies, clinical preference items and medical devices. It includes product adviser support, customized cost reduction planning and insight into comparative performance with Supply Chain Scorecard.
Benchmarking allows you to compare your organization's last price paid for items against the market and analyze price performance at the vendor, manufacturer, UNSPSC, PSC/contract and item level.
Get benchmarking opportunities and measure your performance
- Optimize price in the market with line-item benchmarks
- Measure your hospital’s price performance with Price Index
- Compare performance with similar health systems
Compare price performance, market share and utilization with other health care organizations. For even greater insight, focus on specific categories or items and expand your comparison group by annual spend, number of operating beds and adjusted patient days.
Compare a health system’s price performance for selected facilities with other organizations and evaluate your organization’s performance trend.
Measure market trends and understand category dynamics
Category Insights allows you to assess market dynamics at the macro level, measure market trends and view your organization’s price performance trends in the context of market trends. Category Insights includes category expert insights on value drivers and emerging products, technology and suppliers.
Get insights as you develop category management strategies
- Optimize category strategies using macro-economic data
- Understand category-level price and market share trends
- Measure market movement using the Category Index
- Gain market insights from category experts
Category Index is a composite value indicating average market prices weighted by spend to measure movement of market prices for a selected category.
Support your organization’s environmental and diversity objectives
Strategic tools, such as the Environmentally Preferred Purchasing (EPP) Dashboard, support the environmental and diversity objectives of member hospitals.
The EPP Dashboard supports efforts to reduce harmful chemicals from your supply chain and enables you to track organizational spend for products with one or more of the 23 EP product attributes we monitor.
Connect with us to learn more about Vizient supply chain solutions.