OAK BROOK, Ill. and LOUISVILLE, Colo., Feb. 15, 2011 /PRNewswire/ -- The University HealthSystem Consortium (UHC) today announced that it has awarded a 3-year sole-source agreement to GHX for supply chain management solutions and consulting services. The agreement, which has 2 optional 1-year renewal periods, became effective on January 1, 2011.
GHX, located in Louisville, Colo., is the largest trading exchange in health care worldwide, operating in the United States, Canada, and 9 European countries. Its innovative technology and business solutions help health care organizations improve business processes and automate supply chain systems, resulting in better patient care and significant cost savings
GHX's comprehensive supply chain management services meet the unique needs of UHC's members, consisting of more than 100 academic medical centers and more than 200 affiliates. Through the GHX contract, they will have access to the latest supply chain technologies for health care providers, including:
- Connectivity to the GHX exchange
- Procurement and accounts payable automation
- Content management capability
- Data cleansing and analysis of relevancy, consistency, and completeness
- Automation of procurement
- Electronic invoicing
In addition, GHX provides customized consulting services, which include analysis of a hospital's staff, processes, and technology. These solutions and services will enable UHC members to optimize their business processes, achieve greater cost savings, and drive efficiencies while delivering high-quality patient care.
"We're pleased to partner with GHX to provide UHC members with comprehensive supply chain automation to improve operations and cut costs," said Jake Groenewold, UHC senior vice president, Supply Chain. "Given the challenges of the current health care economic environment, our goal is to enable members to achieve significant cost savings and improved efficiencies while maintaining excellent patient care."
UHC members will be able to leverage the agreement to obtain the following benefits:
- The ability to easily identify noncontract purchase opportunities by comparing the contract data with the hospital purchase order history and item file data.
- Participation in a network of health care providers and suppliers that achieved more than $730 million in documented savings across the North American healthcare supply chain in 2010
- The capability to validate prices, which will enable members to capitalize on early-pay discounts and ensure that the right price is being paid every time
- Better control over nonfile and off-contract spending
- Reduced invoice processing costs and cycle time, improved internal controls and productivity, and optimized cash flow
"One of the biggest challenges facing health care providers today is how to reduce operating expenses while improving operational performance, and the supply chain is one of the few opportunities available to them to do that," said Bruce Johnson, president and chief executive officer of GHX. "We are confident the agreement with UHC will give its members the tools they need to transform their procure-to-pay processes through automation and optimization."
About UHC
The University HealthSystem Consortium (UHC), formed in 1984, is an alliance of 112 academic medical centers and 256 of their affiliated hospitals, representing approximately 90% of the nation's nonprofit academic medical centers. UHC offers its members specific programs and services to improve clinical, operational, financial, and patient safety performance. The mission of UHC is to create knowledge, foster collaboration, and promote change to help members succeed. For more information, visit www.uhc.edu.
About GHX
Global Healthcare Exchange, LLC (GHX) makes healthcare more efficient by delivering software and services that enable both healthcare providers and suppliers to increase efficiency, lower costs and deliver better patient care. With the largest footprint in healthcare supply chain management, GHX connects more than 80 percent of licensed hospital beds at U.S. hospitals, as well as providers in Canada and Europe, with the suppliers from which they purchase the majority of their medical-surgical supplies. Working with GHX, organizations can improve business processes, automate supply chain systems and work together in a collaborative environment to solve the tough challenges facing healthcare today. GHX is owned by members of the healthcare industry, including 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 University HealthSystem Consortium