Vizient, Inc., the country’s largest member-driven healthcare performance improvement company, has awarded a group purchasing contract for clinical equipment parts and services to PartsSource, the leading clinical engineering procurement platform.
The agreement gives Vizient members enhanced savings for PartsSource Pro, a managed service platform that provides evidence-based support for purchasing mission-critical products and services. More than 1,000 top-performing hospitals are already part of the growing PartsSource Pro community.
PartsSource Pro delivers top-quartile performance for clinical engineering organizations. The program simplifies the time-consuming procurement process of parts and services to support medical equipment into a single evidence-based platform that provides visual analytics to identify opportunities for cost savings and quality improvements, and advanced formulary controls to simplify compliance with enterprise purchasing policies.
“We have experienced increased efficiency of our program since implementing PartsSource Pro,” said Dan Ritter, System Director of Clinical Engineering and Capital Sourcing, SCL Health. “We’re confident in how PartsSource has driven efficiencies at SCL leading to cost savings by measuring quality, standardizing the myriad of vendors we used, and streamlining our entire supply chain.”
Getting Supply Chain Costs Under Control in Clinical Engineering
Healthcare supply chain costs are predicted this year to surpass labor as the number one source of expense for hospitals. While the industry has spent years modernizing patient care through process improvements and technology investment, too little attention has been paid to the challenges in the procurement of parts and services in clinical engineering. The majority of healthcare organizations still employ manual procurement processes in the support of purchased services for medical equipment.
As a result, most health systems lack a resource for purchasing medical parts and services that leverages data and buying power to reduce waste. Wide variation in procurement practices translates into significant lost savings. Legacy approaches to logistics inhibit the management of supplies and lead to inefficiencies such as late shipments, products regularly out of stock, and mission-critical equipment being out of service. Compounding all these issues, clinical engineering teams must contend with a lack of accurate information on parts and services, as well as limited surveillance and communication tools to streamline supply chain processes.
PartsSource Pro resolves the many issues with the curated supply chain for clinical engineering by providing hospitals with a smart, technology-enabled platform that improves efficiency without adding headcount.
“We are delighted that Vizient has awarded this contract to PartsSource. We look forward to helping their members improve operational efficiencies, reduce unnecessary spend, and ensure high availability of their medical equipment at this time of intense focus on improving margins,” said Phil Settimi, M.D., President and CEO of PartsSource. “Digitizing procurement workflow, maximizing medical asset uptime through evidence-based product selection and increasing supply chain reliability through data science have accelerated productivity and have raised the quality of patient care at the more than 1,000 hospitals that have joined the PartsSource Pro community.”
PartsSource’s proprietary procurement platform eliminates friction from the healthcare supply chain by delivering evidence‐based decision support for healthcare technology management (HTM). Through integrated workflows and standardized processes, PartsSource empowers HTM teams to make data-driven decisions, manage long-tail spend, increase equipment uptime and track the quality of clinical assets. To learn more about the value of proactively managing the lifecycle of clinical resources, visit PartsSource.com.