U.S. Markets closed

Medpricer's New mSource® Pipeline Performance Management Solution Accelerates Margin Improvement on Purchased Services

Latest offering enables supply chain leaders to fast-track their sourcing roadmap with integrated monitoring, analytics and reporting tools in one solution

WALNUT CREEK, Calif., Jan. 15, 2020 /PRNewswire-PRWeb/ -- Medpricer, one of the nation's leading technology-based solutions to optimize healthcare provider savings across purchased services contracts, today announced its latest module for healthcare supply chains, mSource® Pipeline Performance Management. The comprehensive analytics and sourcing platform now enables supply chains to monitor progress of sourcing projects, assess team performances, create efficiencies among stakeholders and track savings against goals to optimize productivity.

"Many supply chain teams that negotiate purchased services contracts in-house are understaffed or over-extended without the proper resources," said Medpricer CEO Chris Gormley. "We rolled out mSource® Pipeline Performance Management to save our customers time, while simplifying how they track and report complex sourcing data to best evaluate their purchased services contracts."

As healthcare operating expenses continue to rise, there is a growing need for improved management to keep costs low without jeopardizing productivity. This becomes more complex as organizations juggle endless stakeholder requests with long-term improvement strategies. Medpricer developed mSource® Pipeline Performance Management to help supply chains reach aggressive savings targets without over-tapping time and personnel resources.

As the only dedicated purchased services solution that encompasses project intake and performance analytics, mSource® Pipeline Performance Management features mechanisms to easily manage and evaluate sourcing projects all in one place. These features include:

Simplified and Improved Performance Management
The mSource® Pipeline Performance Management dashboard reports performance indicators, which give supply chains important insights into critical business metrics, such as progress towards savings goals, major contract milestones and status updates on open sourcing initiatives.

Centralized Project Intake
One platform to accept, track and prioritize stakeholder requests. This enables supply chains to optimize their team's resources across short- and long-term projects with ease. By centralizing documents and project tracking, Medpricer reduces risk and sourcing timelines on key projects for its customers.

Competitive Ranking Overview
Medpricer's marketplace intelligence determines how an organization's sourcing methods measure up to their competition. Customers can compare how their sourcing duration and percentage of savings lines up against peer organizations.

Improved Stakeholder Engagement
The dashboard provides a space to maximize the supply chain team's resources by hosting weekly stakeholder check-ins. This aids in measuring employee engagement and reporting department achievements. By streamlining communications on the platform, Medpricer simplifies cross-department communications and reporting.

"The release of mSource® Pipeline Performance Management solution is a significant milestone on our product roadmap. It's a testament to how quickly our team creates solutions, centered around user experience, to the everyday challenges our customers face," said Mickey Meehan, Medpricer's Chief Customer Officer. "Our team traveled the country to interview healthcare providers to better understand the industry's broader purchasing needs. Supply chains from integrated delivery networks, university health systems and regional hospitals alike expressed their need for project intake and prioritization tied to performance reporting. Today, Medpricer is the only purchased services spend management solution that fills that gap."

Medpricer launched its mSource® purchased services spend management platform in 2017 to centralize analytics, benchmarks, and contract negotiations. Its modular product offering, powered by AI and machine learning, gives supply chains transparency into spend by category and generates ROI predictions for sourcing initiatives. With millions of bid and transaction datapoints, customers can gather contract benchmarks with pinpoint accuracy. To create a closed-loop sourcing lifecycle, their customers use sourcing automation to maximize department resources and reach savings targets.

For more information, please visit http://www.medpricer.com/solutions/msource/msource-pipeline-performance-management/.

About Medpricer, a Premier company
Medpricer is a Premier company that moves savings strategies forward with scalable purchased services solutions that improve sourcing efficiency and financial health. Its industry-leading software, mSource®, is the only all-in-one contract management, negotiation, and analytics platform that enables organizations to tailor contract terms to fit their unique needs – not those of a group. Medpricer enables organizations to engage with their purchasing data, learn from market intelligence, unite stakeholders, and move contracts through the pipeline – faster. No catches, no hidden admin fees. Discover substantial savings and deliver outcomes that continuously improve the quality of patient care. To learn how other leading healthcare providers are transforming their savings strategy, call (888) 453-4554 or visit http://www.Medpricer.com.

 

SOURCE Medpricer