Proving the Business Case for the Internet of Things

Vizient targets health care industry with supply chain analytics platform

Steve Rogerson
August 9, 2016
Texas-based Vizient has launched what it claims is the health care industry’s most comprehensive supply chain analytics platform. The Savings Actualyzer integrates supply chain data to identify and prioritise savings opportunities, then track and measure results, all from one platform.
This capability creates a category of supply chain analytics that the company believes will fundamentally change how health care providers achieve cost savings and supply chain performance improvement.
“In 2008 we launched the industry’s leading price performance benchmarking tool and today we are setting the standard again by closing a major gap in supply chain analytics,” said Ernest “Chip” Bunata, associate vice president for product delivery. “Our research indicates that what hinders the efficiency of the supply chain is a lack of visibility across all savings and contracting opportunities, tracking progress of current initiatives and measuring true savings of those initiatives.”
He said the Actualyzer gave supply chain managers the ability to see savings opportunities based on market competitiveness, GPO contract portfolios and assessment of capital equipment quotes.
More specifically, the Actualyzer is integrated with a large repository of market data. It delivers visibility and context to empower better decision-making through:

  • Market-based pricing: If a better price exists in the market, users will see it with context to understand what might be driving value.
  • Contract-related insights: Identifies the criteria to unlock the next level of value within the GPO contract portfolio.
  • Capital quote evaluation: Built-in capital quote assessment helps increase capital equipment investments.
The Actualyzer is the culmination of member feedback and participation in the development of the new platform.
“At Vizient, we leverage teamwork and transparency to help us develop and deliver solutions that enable providers to meet their quality and financial goals,” said Bunata. “This approach enables us to respond to the unique needs of every customer and keeps us ahead of the competition.”
The first public demonstration of the Savings Actualyzer took place at the AHRMM16 Conference & Exhibition last week in San Diego, California.