IRVING, Texas, Feb. 8, 2016 /PRNewswire/ -- Today the Upper Midwest Consolidated Services Center, LLC (UMCSC) and aptitude® announced a multi-year partnership that establishes a new business venture, UMCSC reveal™. The new service, designed to drive greater transparency between supply partners, provides insight into performance of an industry leading aggregated hospital purchasing group.
UMCSC, a Vizient Inc. SupplyNetwork, includes more than 60 health care organizations across 21 states. Their members have a combined $6.8 billion in supply chain purchasing power and collaborate to reduce expenses by aggregating spend and redesigning supply chain processes through collective decision-making. Since it was established in 2008, UMCSC has provided over $300 million in savings to its members.
To transform their rich, complex data into actionable information, UMCSC sought the expertise of the healthcare technology firm, aptitude, enabling the rapid deployment of the data sharing service. Through the agreement, aptitude will build and manage the new service by utilizing aspects of its existing technology stack, robust data assets and extensive industry knowledge.
"Our members are very focused on industry innovations, looking beyond traditional supply chain practices to empower new value," said Brenda Peterson, vice president of the UMCSC SupplyNetwork. "Our member led Business Development committee vetted this idea, gained input from 18 different suppliers and helped visualize this re-engineered relationship with suppliers."
UMCSC reveal establishes a direct line into the UMCSC supply chain for contracted suppliers. Those organizations under contract with the group can, among other things, understand current, historical and future market share while reviewing competitive detail based on purchasing trends of the group, members and facilities.
"We believed aptitude could accommodate the UMCSC's unique operational needs," said Jim Francis, chair of supply chain for the Mayo Clinic and the service provider of contracting activity for the UMCSC. "Through UMCSC reveal, we are enabling enhanced partnerships with our suppliers and members. The business intelligence tools provide valuable insights and analytics that showcase our innovative and industry leading supply chain model."
While suppliers will receive immediate value from the initial service offering, they will also enter the ground floor on a longer-term vision, which will advance the modern day healthcare supply chain beyond the transaction.
"Through our partnership with the UMCSC, we are able to present a new level of transparency which we feel will provide the foundation for a higher level of alignment," said Troy Kirchenbauer, aptitude general manager. "Regardless of the platform, we strive to provide unique insights into purchasing patterns, performance and trends that result in more strategic partnerships."
Since launching in April 2013, aptitude LLC has leveraged data and technology to advance aspects of the healthcare supply chain. The online platform, which supports the self-contracting activity between hospitals and suppliers, is expected to significantly increase contract volume in 2016. Hospitals and suppliers are intrigued by how aptitude re-imagines the contracting model and provides the driving force for a more logical market in which both parties can achieve mutually beneficial, committed purchasing relationships for a better value proposition for both. Today, hospitals and suppliers have a combined $15 billion in purchasing power and are experiencing an average savings of 10 to 15 percent.
SOURCE aptitude LLC