Vizient joins forces with HANDLE Global to aid in management of capital expenses, equipment
Vizient, Inc. has announced it has entered into a strategic partnership with HANDLE Global to launch a capital asset management system to help Vizient member healthcare organizations manage their capital expenses and equipment. The system enables access to HANDLE's platform to track capital equipment and expenses and improve equipment lifecycle planning, procurement and asset utilization.
"Advancing performance by managing spend on capital, facilities and construction projects is critical to the long-term success of our members," said Rebecca Gayden, Vizient vice president and general manager, capital equipment solutions. "The capital asset management system — which offers data, analytics and insights — can help healthcare organizations reduce costs and operate more efficiently."
Alongside the capital asset management system, Vizient will offer advisory services to maximize efficiencies and effectiveness of capital procurement processes and identify savings opportunities. The services include reporting that highlights standardization opportunities and improved contract utilization as well as assistance in implementing new equipment and technology.
The capital asset management system provides a "fleet" analytics module to generate summary level data, insights and recommendations across the health system's fleet of capital equipment. The module includes risk scoring to assist decision makers in equipment lifecycle planning and budgeting decisions.
In addition, a capital budget module will allow members to incorporate insights and recommendations from the fleet analytics module into their procurement and budget management processes, providing a strategic assessment of capital equipment budgeting, requisitioning, and asset management processes. The collection of capital lifecycle data provides analytical insights to plan capital purchases and allocate assets to an organization's enterprise resource planning system.
"We're thrilled to partner with Vizient to help address some of the biggest challenges in the healthcare capital supply chain," said Kyle Green, founder and CEO of HANDLE. "The lack of visibility into a healthcare system's full fleet of assets can be incredibly costly, and we are proud to offer the platform that empowers healthcare to make better decisions backed by what is now one of the largest capital data sets in the world."
