IRVING, Texas, Aug. 26, 2013 /PRNewswire/ -- Novation, the leading health care supply chain expertise, analytics and contracting company, was named today by IDG's Computerworld as a 2013 Data+ Editor's Choice award honoree. The award recognizes successful big data initiatives that illustrate how data is being mined to analyze and predict business trends and monetize the information.
One of only 12 companies in the U.S. chosen by Computerworld editors, Novation was recognized for its development of supply chain and data analytics solutions that help hospitals reduce purchasing costs and increase supply chain efficiencies.
"The organizations honored in this year's Data+ Editor's Choice awards program have unearthed the business value that's rooted throughout big data," said Scot Finnie, editor in chief, Computerworld. "The projects spotlighted are tapping into big data to analyze and influence customer behavior, drive new business revenues and predict future trends. Each of the organizations is raising our understanding of big data to new levels, while at the same time opening the door for other organizations to follow their lead. It's an exciting time in the big data field."
Novation's Information and Data Services team created a comprehensive suite of price-benchmarking and cost-management analytic applications in the medical, surgical and pharmaceutical areas. The database includes data from more than 2,400 member organizations representing $65 billion in annual spending. The data and analytic tools help hospital organizations effectively manage costs throughout the supply chain, which typically make up the second largest expense, after labor costs.
"Hospital purchasing is extremely complex. Information changes constantly so it is imperative that the hospital members we serve have the ability to harness the power of big data to make more informed purchasing decisions, especially in the face of today's added financial pressures from changing health care reimbursement policies," said Dan Sweeney, Sr. Vice President, Information and Data Services, Novation. "Our team is humbled to be recognized by the editors of Computerworld for the work we do to help health care organizations better serve patients and reduce costs."
Computerworld editors also recognized Novation, the leading healthcare supply chain expertise, analytics and contracting company for the more than 65,000 members of VHA Inc. and UHC, Children's Hospital Association, and Provista, LLC., for its suite of mobile business intelligence and analytics applications which provide hospitals instant, on-the-go decision support based on its extensive price-benchmarking database.
"Novation mobile business intelligence applications increase productivity by enabling hospital resources and field teams to make data-driven price and spend decisions in real time, moving from a model of users looking for data to insights following the user," said Hari Subramanian, director of mobile solutions at Novation.
Novation's big data initiative is included in the latest issue of Computerworld as well as on its website. The effort also will be showcased at Computerworld's 2013 Data+ conference, September 8-10, 2013 in Scottsdale, Arizona.
Earlier this year, IDG's Computerworld recognized Novation as a 2013 Laureate through its annual award program honoring visionary applications of information technology promoting positive social, economic and educational change. The publication further highlighted Novation for its continued work in driving down costs by mobile-enabling the health care supply chain.
Computerworld is the leading source of technology news and information for IT influencers, providing peer perspective, IT leadership and business results. Computerworld's award-winning website (www.computerworld.com), publication, focused conference series, custom solutions and custom research forms the hub of the world's largest (40+ edition) global IT media network and provides opportunities for IT solutions providers to engage this audience. Computerworld leads the industry with an online audience of over 3.8 million unique, monthly visitors (Omniture, November 2012) and was recognized as the Best Website by ASBPE and TABPI in 2012. Computerworld is published by IDG Enterprise, a subsidiary of International Data Group (IDG), the world's leading media, events and research company. Company information is available at www.idgenterprise.com.
About Novation, Winner of the Ethics Inside® Certification
Founded in 1998, Novation is the leading health care supply chain expertise, analytics and contracting company for the more than 65,000 members of VHA Inc. and UHC, two national health care alliances, Children's Hospital Association, an alliance of the nation's leading pediatric facilities, and Provista, LLC. Novation provides alliance members with sourcing services, as well as information and data services. Based in Irving, Texas, Novation develops and manages competitive contracts with more than 600 suppliers. VHA, UHC, and Provista members used Novation contracts to purchase approximately $43 billion in 2012. Novation has earned the coveted Ethics Inside® Certification from Ethisphere Institute, a leading international think tank dedicated to the research and promotion of best practices in corporate ethics and compliance. Novation was also named on Ethisphere's World's Most Ethical Companies list, and is the only company in the health care industry to earn both distinctions for two consecutive years. To learn more about Novation, please visit http://www.novationco.com and follow @NovationNews.