CHRISTUS Health Signs Agreement with Valify to Generate Savings in Purchased Services
Valify, LLC announced today that CHRISTUS Health in Irving, Texas executed an agreement with Valify to utilize Valify's SaaS analytics and benchmarking platform to reduce costs in purchased services.
Frisco, Texas, January 25, 2016 - Valify, LLC announced today that CHRISTUS Health in Irving, Texas executed an agreement with Valify to utilize Valify's SaaS analytics and benchmarking platform to reduce costs in purchased services.
Valify's easy-to-use web-based tools empower hospitals and health systems to quickly execute on identified savings opportunities within their purchased services spend. CHRISTUS Health utilizes Valify’s suite of solutions to gain visibility into all purchased services spending and identify savings opportunities across the entire health system. Additionally, CHRISTUS Health can build and track savings projects within Valify in order to monitor their monthly performance and verify that CHRISTUS Health realizes all of the expected value from new agreements and standardization initiatives.
“We knew we needed to partner with Valify after our first demo because they solve some of the biggest challenges in managing purchased services spending,” said Ed Hardin, vice president, supply chain management, for CHRISTUS Health. “Before Valify, there were no practical tools that quickly collect, categorize and identify savings opportunities in purchased services. Now we have been able to identify dozens of categories with significant cost and utilization variations within our own system by comparing our purchasing patterns to Valify’s 300+ other hospital clients. We then use that information to support our faith-based mission. As a not-for-profit health care system, our cost-savings are used to bring value to and reinvest in the communities we serve.”
“We are very excited for Ed and his team at CHRISTUS Health,” said Chris Heckler, Chief Executive Officer of Valify. “They clearly understand that disparity in purchased services spend data actually represents an opportunity to drive out costs. Not only do they now have visibility to new vendor standardization and cost reduction opportunities across their entire system, they can also link their local, regional and national contracts to their monthly spending to actively monitor a contract’s performance.”
Michael Hinojosa, CHRISTUS Health’s Director, Contracting & Resource Utilization - Purchased Services said, “Valify’s intuitive software took all of our non-labor spend and identified savings opportunities within purchased services in less than 5 days. We now have actionable intelligence to quickly make decisions regarding vendor and category opportunities that we would not have known about prior to using Valify.”
About CHRISTUS Health
CHRISTUS Health, an international Catholic, faith-based, not-for-profit health system, is headquartered in Dallas and is comprised of almost 350 services and facilities, including more than 50 hospitals and long-term care facilities, 175 clinics and outpatient centers and dozens of other health ministries and ventures. CHRISTUS services can be found in over 60 cities in Texas, Arkansas, Iowa, Louisiana, New Mexico, Georgia, Mexico, and Chile. The system employs approximately 30,000 Associates and has over 13,500 physicians on facility medical staffs who provide care and support for patients. CHRISTUS Health is listed among the 10 largest Catholic health systems in the U.S.
Valify is the only web-based analytics and benchmarking solution on the market today for managing purchased services in healthcare. Valify’s patent-pending technology simplifies the analysis of purchased services spend by automating categorization of the data. Valify also has assembled the industry’s largest categorized vendor database, provides benchmarking, performance tracking, and contract management, all within a single platform. Within just a few days of uploading the data, hospitals can easily identify opportunities, prioritize savings efforts, and better prepare for vendor negotiations.