IRVING, TX–(Marketwire – May 17, 2012) – For today’s health care organizations, analyzing and leveraging vast amounts of spend data presents a formidable challenge. Many health care leaders are employing business intelligence tools to help interpret the numbers so they can improve their supply chain processes and reduce costs. To assist in this process, VHA Inc., the national health care network, has introduced Spend Essentials, a new component to its comprehensive VHA LYNX™ suite of business intelligence resources. VHA LYNX provides a powerful business solution to support spend decisions and promote system-wide transparency; Spend Essentials combines member spend history with industry-leading contracts offered through Novation, VHA’s supply contracting company.
Spend Essentials’ users can pinpoint cost reduction and standardization opportunities. Results are delivered in 15 detailed, easy-to-understand and user-friendly dashboards available on any computer through proprietary web-based software. Views by individual facility, system and buyer facilitate transparency and efficiency across the organization. Spend Essentials integrates seamlessly into existing supply chain processes, aligning directly with health care systems’ specific needs.
“Spend Essentials’ capabilities reflect what our members have told us they want and need to improve their performance and succeed in the current health care environment,” said Scott Downing, VHA executive vice president and chief sales and marketing officer. “With this new VHA LYNX solution, members can truly maximize their contract portfolios, sorting and drilling down to see specific spend while improving efficiency throughout all of their purchasing activities. This transcends anything that currently exists in the market and will help make supply chain performance improvement easier to achieve at a time when hospitals are under intense pressure to manage costs.”
With the ability to dissect and analyze supply chain spend information alongside Novation’s industry-leading pricing, purchasing departments can easily identify and prioritize the largest cost reduction opportunities, Downing adds.
“The day after I attended training on Spend Essentials, I peeked into the system and found some immediate savings,” explained Steve Dana, senior purchasing agent for Watertown Regional Medical Center, Watertown, Wisc. “It showed there were two contracts where our volume had increased to the point that we qualified for the next tier. I requested the tier move on-line, which was instantly accepted. That click of a mouse will save us $5,000 a year. It was quick and easy. I am continuing to look into other contracts and individual items through this new solution.”
For more information on VHA LYNX and Spend Essentials call 800.842.5146 or email firstname.lastname@example.org.
About VHA Inc.
Based in Irving, TX, VHA Inc. is a national network of not-for-profit health care organizations that work together to drive maximum savings in the supply chain arena, set new levels of clinical performance, and identify and implement best practices to improve operational efficiency and clinical outcomes. Since 1977, VHA has leveraged its expertise in analytics, contracting, consulting and networks to help members achieve their operational, clinical and financial objectives. In 2011, VHA delivered record savings and value of $1.8 billion to members. VHA serves more than 1,350 hospitals and more than 30,000 non-acute care providers nationwide, coordinating delivery of its programs and services through its 15 regional offices. VHA has been ranked as one of the best places to work in healthcare by Modern Healthcare since the publication introduced this list in 2008.