HOFFMAN ESTATES, Ill., April 5, 2016 /PRNewswire/ -- Vistex Inc., the global leader in Go-to-Market solutions that manage pricing, incentive, royalty and channel programs to enhance business results, announced today that KARL STORZ Endoscopy-America, Inc., the leading manufacturer and distributor of endoscopes, medical instruments, and devices, has gone live with Vistex Solutions for SAP software.
KARL STORZ selected Vistex to help transform its revenue management processes. As the medical device market shifts to an outcome-based model, Vistex demonstrated its capabilities to support KARL STORZ's critical business requirements as a complete solution.
"Vistex software will provide KARL STORZ with the flexibility they need to go beyond typical quantity-based pricing – enabling links between performed procedures and outcome definitions to the appropriate pricing and reimbursement amounts," said Sanjay Shah, Vistex Founder and CEO. "Our software is proven to support the industry's complex pricing management, and will allow KARL STORZ to participate effectively in this rapidly evolving healthcare delivery model."
Patrick Furtaw, Vice President, Service & Operations at KARL STORZ, complemented this view. "We're excited about our recent implementation and go-live of Vistex software. The solution has exceeded our expectations, and allowed us to link our product and service offerings to performed patient procedures and outcomes." Matt Butcher, Global Executive Director, IT Planning and Solution Development at KARL STORZ added, "Not only was this a successful rollout and deployment, it was also a great example of teamwork and collaboration between Vistex, KARL STORZ IT and business users. We have also provided our users an unprecedented level of reporting and analytics."
Furtaw further explains, "A key benefit to our customers is that KARL STORZ now has the ability to customize contracts to fit each customer's needs based on their specific history. The software also enables us to create risk-sharing agreements that allow us to take a risk as a partner, creating a closer alignment with the customer."
The medical device industry is in a transformative state, and the negotiating power of group purchasing organizations and hospitals relative to manufacturers has increased. Vistex contract and revenue management software will provide KARL STORZ with better insight into contracts, the ability to better negotiate pricing, analyze product sales, as well as identify opportunities for greater market penetration.
The unique capabilities of Vistex software will further enable KARL STORZ to support their revenue programs as such innovation endures.
Vistex provides enterprises with solutions that manage pricing, incentive, rebate, royalty and channel programs to enhance business performance while reducing labor and infrastructure costs. The software and services provided by Vistex are optimized by industry to deliver an end-to-end solution for the design, management and administration of the entire spectrum of Go-to-Market® programs. Enterprises are empowered with unprecedented visibility into program performance, and gain deeper insights to better enable fact-based decisions that drive revenue, control cost, minimize leakage, and streamline processes. For more information, visit www.vistex.com.
About KARL STORZ
KARL STORZ Endoscopy-America, Inc., is an affiliate of KARL STORZ GmbH & Co. KG, an international leader for more than 70 years in reusable endoscope technology, encompassing all endoscopic specialties. Based in Tuttlingen, Germany, KARL STORZ GmbH & Co. KG is a family-owned company that designs, engineers, manufactures, and markets all its products with an emphasis on visionary design, precision craftsmanship and clinical effectiveness. For more information, call (800) 421-0837 or visit the company's Web site at www.karlstorz.com.
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SOURCE Vistex Inc.