GHX Launches Procurement Suite Spend Management Solution for Hospitals

LOUISVILLE, Colo., March 2 /PRNewswire/ -- GHX today unveiled its Procurement Suite spend management solution for healthcare providers, designed to enable more strategic and cost-effective purchasing decisions. With Procurement Suite, hospitals can gain better control over non-file, off-contract spending. The new suite of products represents the first step to managing physician-preference items. 

Procurement Suite enables accurate requisitioning through a foundation of sound content and accurate contract price validation and alignment. Through a simple user interface, requisitioners gain visibility into information from a variety of disparate sources in order to make more contract-compliant sourcing decisions.  

Procurement Suite enables users to seamlessly access GHX's validated product and contract data repositories through their materials management information system (MMIS) or enterprise resource planning (ERP) system. From there, users can search for products they want to order, identify which are on contract and then bring those items and their associated contract pricing back into the MMIS/ERP system, helping to ensure they get the right product at the right price.

By dynamically accessing the largest electronic repository of data on healthcare products, providers can better manage the frequency and magnitude of changes to critical purchasing information. On average, changes are made each year to one-third of the 30 million plus medical-surgical products on the market in the United States. In addition, each group purchasing organization (GPO) is estimated to make as many as 30,000 changes to contract data each month.

Most hospitals don't put all physician preference items in their item masters, choosing instead to keep a very focused and small item master. Without Procurement Suite, when hospitals order a product that isn't in the item master, they don't necessarily know whether they are getting the contract price, or even if the product is on contract. With the visibility they gain from Procurement Suite, hospital materials management departments can move more of their spend onto contracts, allowing them to effectively manage the products being sourced and the price of those products.

One of the areas in which Procurement Suite can have a big impact is in the ordering of products for the operating room—specifically, high-cost implantables. Because Procurement Suite enables the search of contracted items, not just the item file, requisitioners will be able to search and find those implantables with their contract price.  Procurement Suite simplifies the requisitioning experience for clinicians, providing greater assurance that they will receive the products they order and can focus their attention on what matters most, the patient.

"This solution helps our customers leverage their combined investments in GHX and their ERP systems," said Patrick McCarthy, vice president, Exchange Services, at GHX. "It allows them to establish control of their procurement processes. Electronic requisitions provide the opportunity to capture demand accurately. Procurement Suite helps ensure hospitals get their supply chain off to the right start."

About GHX

As the business hub for healthcare, Global Healthcare Exchange, LLC (GHX) enables healthcare providers and suppliers in North America and Europe to reduce costs and improve margins by automating processes, reducing operating expenses and increasing knowledge-based decision making.  Products and services include trading partner connectivity, order and contract management and validation, data synchronization, sales force automation and business intelligence. Equity owners of GHX are Abbott Exchange, Inc.; AmerisourceBergen Corp.; Baxter Healthcare Corp.; B. Braun Medical Inc.; BD; Boston Scientific Corp.; Cardinal Health, Inc.; Covidien; C.R. Bard, Inc.; Thermo Fisher Scientific Inc.; GE Healthcare; HCA; Johnson & Johnson Health Care Systems Inc.; McKesson Corp.; Medtronic USA, Inc.; Owens & Minor; Premier, Inc.; Siemens; University HealthSystem Consortium; and VHA Inc.  For more information, visit www.ghx.com.

SOURCE GHX

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