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Technology Exchange Promises a Focused Look at Unique Products

02/24/20

Physicians and clinicians are always looking for innovative products and solutions that can help them improve the quality of outcomes and patient experience. From large capital and construction solutions to implantable cardiology and orthopedic devices, the Vizient Innovative Technology Exchange offers insight into products that will shape the service lines of tomorrow as well as solve the challenges of today for health systems and clinicians.

The annual Exchange, which takes place as part of the Vizient Connections Business Summit in Las Vegas in April, provides members an opportunity to examine some of the latest health care technologies on the market. This year, Vizient received approximately 160 product applications and narrowed the selection to 100 after a thorough vetting.

Focus on the future of care

All products at the Exchange are on Vizient contracts or are being considered for a Vizient contract and have been selected because they have the potential to improve patient care outcomes or benefit the hospital’s business model. At this year’s event, members can expect to see a broad offering of solutions in such categories as wound management, diagnostic imaging, smart patient care, hospital-acquired condition prevention, infection control, operating room procedure, critical care and cardiology.

While the products differ each year, one feature of the Exchange remains the same: an atmosphere created with member focus in mind. Careful attention is paid to the layout and design of the floor plan to provide optimal product viewing. Related products are displayed in the same “neighborhood,” allowing clinicians to compare like items more easily.

“The attention is always on the products themselves because that’s what clinicians want to focus on at the show,” said Olya Carter, senior compliance clinical manager at Vizient. “We try to give members the ability to walk through and see and experience the products and not be distracted by marketing material.”

“We challenge suppliers not to send their best salesperson to man the booth, but to send somebody who really can answer clinical questions,” said Debbie Archer, procurement compliance director at Vizient. Attendees are invited to use the e-tablet at each table to provide Vizient product-specific feedback.

How products are deemed an Innovative Technology

The Exchange is one of several pathways to recognition for products or service innovators through the Vizient Innovative Technology Program. Throughout the year, subject matter experts serving on Vizient member-led councils review products for evidence of incremental benefits to patient care, patient and health care worker safety or improvements to the organization’s business model. Based on this review, the member council determines which products get the coveted Innovative Technology contract award or designation.

“The threshold is very high because the member councils are not just vetting the products for their own hospitals,” Carter said. “They make decisions on behalf of the entire Vizient membership.” Vizient’s membership represents more than $100 billion in annual purchasing volume.

A Vizient member council recently recommended Magnolia Medical Technologies for an Innovative Technology contract for its blood collection device, which automatically diverts a small amount of initial blood when drawing a sample. The device is designed to help health care providers eliminate false positive blood cultures. After undergoing the standard review process, the device was awarded the contract for its potential clinical, safety and financial benefits. The new Magnolia contract is already being accessed by more than 300 member facilities. Members can expect to see this product with some new pediatric line extensions at the 2020 Innovative Technology Exchange.

The 2020 Vizient Innovative Technology Exchange takes place on April 1, 8-11:30 a.m., at the Wynn Las Vegas as part of the Vizient Connections Business Summit, March 30-April 2. Learn more.

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