Medpricer announces purchased services performance management platform
Medpricer announced its latest module for healthcare supply chains, mSource Pipeline Performance Management. The comprehensive analytics and sourcing platform now enable supply chains to monitor progress of sourcing projects, assess team performances, create efficiencies among stakeholders and track savings against goals to optimize productivity.
“Many supply chain teams that negotiate purchased services contracts in-house are understaffed or over-extended without the proper resources,” said Medpricer CEO Chris Gormley. “We rolled out mSource Pipeline Performance Management to save our customers time, while simplifying how they track and report complex sourcing data to best evaluate their purchased services contracts.”
As healthcare operating expenses continue to rise, there is a growing need for improved management to keep costs low without jeopardizing productivity. This becomes more complex as organizations juggle endless stakeholder requests with long-term improvement strategies. As the only dedicated purchased services solution that encompasses project intake and performance analytics, mSource Pipeline Performance Management features mechanisms to easily manage and evaluate sourcing projects all in one place. These features include:
· The mSource Pipeline Performance Management dashboard reports performance indicators, which give supply chains important insights into critical business metrics, such as progress towards savings goals, major contract milestones and status updates on open sourcing initiatives.
· One platform to accept, track and prioritize stakeholder requests. This enables supply chains to optimize their team’s resources across short- and long-term projects with ease. By centralizing documents and project tracking, Medpricer reduces risk and sourcing timelines on key projects for its customers.
· Medpricer’s marketplace intelligence determines how an organization’s sourcing methods measure up to their competition. Customers can compare how their sourcing duration and percentage of savings lines up against peer organizations.
· The dashboard provides a space to maximize the supply chain team’s resources by hosting weekly stakeholder check-ins. This aids in measuring employee engagement and reporting department achievements. By streamlining communications on the platform, Medpricer simplifies cross-department communications and reporting.
“The release of mSource Pipeline Performance Management solution is a significant milestone on our product roadmap. It’s a testament to how quickly our team creates solutions, centered around user experience, to the everyday challenges our customers face,” said Mickey Meehan, Medpricer’s Chief Customer Officer. “Our team traveled the country to interview healthcare providers to better understand the industry’s broader purchasing needs. Supply chains from integrated delivery networks, university health systems and regional hospitals alike expressed their need for project intake and prioritization tied to performance reporting. Today, Medpricer is the only purchased services spend management solution that fills that gap.”
Medpricer launched its mSource purchased services spend management platform in 2017 to centralize analytics, benchmarks, and contract negotiations. Its modular product offering, powered by AI and machine learning, gives supply chains transparency into spend by category and generates ROI predictions for sourcing initiatives.
