Vizient Offers New Savings, Analytics Capabilities to Improve Performance

November 20, 2020 – Unprecedented challenges from the COVID-19 pandemic call for innovative and creative thinking. To help health care organizations meet the challenge, Vizient, Inc. has rolled out new analytics capabilities in Vizient Savings Actualyzer-Supplies, a comprehensive analytics platform that supports cost-savings practices on medical devices and clinical items.

Vizient Savings Actualyzer-Supplies helps health care providers manage spend, identify savings opportunities and analyze supply chain performance.  With the new analytics capabilities, providers can:

  • Review contract penetration and savings opportunities by product segment, product spend category, contract and supplier.
  • Monitor contract changes and assess the financial impact using a new set of alerts.
  • Assess and manage total direct match and conversion savings over time.
  • Access and download line-item detail to support the savings opportunity analysis.
  • View prior-year rolling 12 months of spend information to help assess and adjust analytics due to abnormal spending patterns as a result of the COVID-19 pandemic.

Contract Optimizer, a highly anticipated new feature, will help users assess the value of conversion opportunities by leveraging performance tier logic and cross-reference data. Contract Optimizer allows users to see a variety of savings opportunities such as inaccurate pricing, price parity, inactivated contracts and tier maximization. All national, group, custom and local contracts loaded in Vizient Catalog are included in Contract Optimizer.

Soon, users also will be able to easily assess savings opportunities of future-dated contracts before transitioning from an expiring contract to a replacement contract. Vizient says the roll out of the new features is part of our commitment to providing real-time analytics and savings opportunities to health care providers.

To learn how one health system used analytics from Vizient Savings Actualyzer-Supplies to overcome challenges and achieve significant savings, click here.