Valify Announces Several Key Business Wins with Nationally-Recognized Health Systems

Posted by Valify Team on Feb 21, 2017 11:48:55 AM

FRISCO, Texas—February 21, 2017— Valify, the largest healthcare purchased services benchmarking and analytics solution provider, today announced its partnership with several nationally-recognized health systems to gain timely, data-driven insights into their purchased services spend. With Valify, these healthcare organizations are able to quickly identify, benchmark, and track savings opportunities across more than 1,200 purchased services categories, mitigate financial risk, and reduce the overall cost of operations.

Valify continues to grow rapidly, having added over 10,000 beds and 60 hospitals to its industry-leading purchased services platform in the last 90 days. This brings Valify’s total categorized and benchmarked data to over 12% of the acute, non-government licensed beds in the US.

Leading the growth in the Midwest is Beaumont Health in Southfield, Michigan. Beaumont is a highly-decorated health system consisting of eight hospitals with 3,399 beds and 170 outpatient centers. “To ensure the success of our 2017 large-scale purchased services cost reduction program, we needed the right tools to benchmark and track our purchased services,” said Ed Hardin, senior vice president of supply chain management at Beaumont Health. “Prior to joining Beaumont, I used Valify’s database, so I am familiar with the product, its ease of use and the results that can be achieved with it.”

Joining Beaumont on the Valify platform are two large, fully integrated IDN's in the Midwest consisting of over 4,600 beds and 40 hospitals, an academic medical center in Tennessee, and a five hospital system in the Northwest. Between the five new additions to Valify’s customer base, these health systems see patients across ten states.

Valify’s purchased services benchmarking database now accounts for an unparalleled $136 billion in total spend. This information enables Valify to offer its customers impactful benchmarking and KPI data as well as the only source for real-time vendor market share. In addition, Valify’s customers have access to total spend visibility, the industry’s leading savings project tracker, and exclusive technology-enabled Valify Advisory Services.

“We are excited to continue our growth leading into 2017 by welcoming five new health systems into the Valify family,” said Chris Heckler, President and CEO of Valify. “The increased pressure to cut costs and improve quality of care continues to drive healthcare organizations to our solution and we look forward to another year of helping our clients determine areas for immediate cost reductions, improve processes, and ultimately achieve their savings goals.”

To learn more about Valify’s many purchased services data analytic capabilities or to schedule a demo, visit www.getvalify.com.

About Valify

Valify is the only web-based solution that allows healthcare organizations to quickly identify, benchmark, and track savings in purchased services, mitigate financial risk and reduce the overall cost of operations. Valify reveals purchased services spending across the enterprise to help identify immediate cost savings opportunities in more than 1,200 categories. With proprietary benchmarking analysis, organizations can compare purchased services spending against a monthly-updated database of hundreds of peer institutions to evaluate financial performance, prepare for vendor negotiations, and reduce costs that typically comprise more than 35 percent of a hospital’s non-labor budget. For more information, visit GetValify.com.

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How can you hit your savings goal if you don't know where to start?  Once your spend is categorized, Valify identifies savings opportunities within your purchased services spend, so you have a jump start on building out your work plan. 

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Why do all of that work if it doesn't get implemented?  Valify tracks spending by vendor, category and facility so you can increase contract utilization and stop rogue spending.

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