IRVING, Texas--(BUSINESS WIRE)--For more than 20 years, Vizient members have achieved significant value from participating in sourcing programs that offer additional savings in exchange for their spend commitment. Today, the company announces it is launching the Vizient Achieve Committed ProgramTM , focused on select commodity and clinical preference items for members. The program will build on an already existing portfolio that represents more than 45 percent of a hospital’s medical/surgical supply purchases.
The Achieve program is an expansion of the range of highly successful committed offerings currently available to Vizient members. For example, the Impact Standardization program has returned more than $1.8 billion to participants to date, and in 2017, the Vizient Pharmacy Program grew to $53 billion in committed spend – more than double that of the nearest competitor.
“Our members have expressed an increased interest in programs that offer significant value in exchange for purchasing commitment. By participating, they are able to shift their resources from locally negotiating commodity contracts to a focus on tackling bigger opportunities for cost savings and process improvement, like clinical-supply integration or driving operational efficiency through their supply chain operations,” said Pete Allen, executive vice president, sourcing operations for Vizient.
Members who choose to participate in the Achieve Program will receive the best total acquisition cost, unmatched transparency and increased efficiency.
- Best total acquisition cost – In exchange for high committed spend, program participants can expect to see significant value in select commodity and clinical preference categories, including expected savings of 6-12 percent through pricing and rebates in select categories.
- Transparency – Participants will have easy access to spend data through a proven analytics platform to track participation.
- Increased efficiency – By shifting the negotiation and management of locally negotiated categories to the Achieve Program, participants can focus their efforts on advancing clinical-supply integration and improved patient outcomes within their member facilities.
The Achieve Program also benefits participating suppliers. Increasingly, the supplier community is seeking predictability and commitment from members, and the program’s tools and processes help facilitate that. The Achieve Program ensures both members and suppliers benefit from the value delivered to all participants through a commitment model.
“Vizient’s Achieve Committed Program is the ‘always on’ value acceleration opportunity where contracts for commodity and clinical preference items are actively managed to ensure participants continuously receive the best possible value,” said Allen.
For more information on the Vizient Achieve Committed Program visit: vizientinc.com/achieve
About Vizient, Inc.
Vizient, Inc., the largest member-driven health care performance improvement company in the country, provides innovative data-driven solutions, expertise and collaborative opportunities that lead to improved patient outcomes and lower costs. Vizient’s diverse membership base includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute health care providers and represents approximately $100 billion in annual purchasing volume. The Vizient brand identity represents the integration of VHA Inc., University HealthSystem Consortium and Novation, which combined in 2015, as well as MedAssets’ Spend and Clinical Resource Management (SCM) segment, including Sg2, which was acquired in 2016. In 2018, Vizient again received a World’s Most Ethical Company designation from the Ethisphere Institute. Vizient’s headquarters are in Irving, Texas, with locations in Chicago and other cities across the United States. Please visit www.vizientinc.com as well as our newsroom, blog, Twitter, LinkedIn and YouTube pages for more information about the company.