IRVING, Texas, April 11, 2017 — Health care systems continue to be challenged to lower their supply costs, and physician preference items, such as implants, can be an expensive part of the supply budget. In response and in an aligned service model and strategy, Vizient, Inc. has partnered with Surgery Exchange to help alleviate these cost pressures and bring transparency to the surgical implant process.
A health care system’s implant spend is notoriously difficult to manage. Until now, providers have not had a way to fully access the information and transparency needed to control these costs. For example, manufacturers often launch new technologies with premium pricing, yet health systems have little confirmation that the devices live up to the efficacy claims or the new price tag. While value analysis and physician engagement strategies certainly help, hospitals and clinicians are often limited by a lack of visibility into implant utilization details.
“We are excited about working with Surgery Exchange,” says Erik Axter, managing principal at Vizient. “We believe this partnership will make it easier for our health care members to achieve optimal implant spend, ensure contracts are enforced, and collaborate with manufacturers in new ways to deliver the greatest value to the providers we serve.”
The partnership with Surgery Exchange will provide much-needed transparency when addressing the inefficiencies associated with the management of implant procedures, throughout the continuum of care – which is information health care provides rarely have been able to access.
Vizient’s partnership with Surgery Exchange offers change management and supply chain expertise combined with a software platform that enables the health care provider to manage and control the entire implant process.
“Our platform is an industry first, specifically designed to allow a provider to begin the process of taking back control of implant surgeries – including vendor contract enforcement and improved workflow efficiencies before, during and after the case to ensure they are managing and reducing their overall costs with implants,” says Amin Rahme, president and CEO of Surgery Exchange.
Surgery Exchange brings all stakeholders into a collaborative environment and provides hospitals with the transparency and visibility needed to automate and manage the costly and time-consuming activities associated with implant surgeries, producing measurable cost-savings opportunities while driving improved efficiencies and accountability.
Vizient launched this service at its 2017 Vizient Connections Summit, which took place April 5 – 7 in Las Vegas.
About Vizient, Inc.
Vizient, Inc., the largest member-driven health care performance improvement company in the country, provides innovative data-driven solutions, expertise and collaborative opportunities that lead to improved patient outcomes and lower costs. Vizient’s diverse membership base includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non- acute health care providers and represents more than $100 billion in annual purchasing volume. The Vizient brand identity represents the integration of VHA Inc., University HealthSystem Consortium and Novation, which combined in 2015, as well as MedAssets’ Spend and Clinical Resource Management (SCM) segment, including Sg2, which was acquired in 2016. In 2017, Vizient again received a World’s Most Ethical Company designation from the Ethisphere Institute. Vizient’s headquarters are in Irving, Texas, with locations in Chicago and other cities across the United States. Please visit www.vizientinc.com as well as our newsroom, blog, Twitter, LinkedIn and YouTube pages for more information about the company.
About Surgery Exchange
Headquartered in Atlanta, Ga., Surgery Exchange is a highly-specialized software company whose innovative cloud-based platform is an industry first. The comprehensive HIPAA-compliant software solution is specifically designed to support hospitals with end-to-end planning and case management focused on “bill only” implants and surgery workflow. Surgery Exchange brings all stakeholders into a collaborative environment and provides hospitals with the transparency and visibility needed to automate and take back control of the costly and time-consuming activities associated with implant surgeries, producing measurable cost-savings, efficiencies and accountability before, during and after surgery. Utilizing the cloud-based platform, Surgery Exchange delivers a robust 3-phase program that offers providers the ability to control and manage consignments, optimize logistics and – if desired – move toward a self-distribution model focused on value based outcomes for the entire episode of care. For more information about the implant surgery process and the Surgery Exchange platform, please visit SurgeryExchange.com.