Prisma Health Selects Valify To Identify Vendor Consolidation And Other Savings Opportunities
FRISCO, Texas--(PRLOG)--June 10, 2019
Valify today announced that Prisma Health has chosen Valify as its technology partner to manage and reduce their purchased services expenses. As Prisma Health continues to unify, following the merger of Greenville Health System and Palmetto Health, gaining the ability to clearly distinguish which vendors provide outsourced services by each individual facility and by each department for every category is paramount to identifying immediate savings opportunities post-merger.
By partnering with Valify, Prisma Health joins the ranks of over 1,000 other hospitals who recognize that a substantial amount of their non-labor budget is spent on purchased services and that it is full of untapped potential to claim savings.
Prisma Health is a not-for-profit health system with 18 acute hospital locations, making it the largest hospital system in South Carolina and top 50 in the U.S. Through Valify's suite of services, Prisma Health will immediately gain system-wide spend visibility and a road map of savings opportunities, including vendor consolidation opportunities and others that are automatically pulled from the data by highly fine-tuned and intelligent algorithms. Additionally, Prisma Health has unlimited access to Valify's pricing database, the largest purchased services database available with over $350 billion in spend, to review category-specific benchmarks for the deepest insight into pricing along with the utilization factors and cost model considerations that are necessary when properly comparing pricing for purchased services.
"We are excited to welcome Prisma Health to the Valify platform. We look forward to accelerating their speed-to-savings in purchased services, and to provide support through their post-merger process," said Chris Heckler, CEO and President of Valify.
Valify is the only health care cost management company exclusively dedicated to managing purchased services expense. Valify's web-based technology platform uses proprietary machine learning algorithms which allow health care organizations to quickly identify and manage savings opportunities in over 1,200 categories. Powered by the Valify database of over $350 billion in spend, Valify provides expert benchmarking analysis, market share insights, and prebuilt category-specific RFP templates. With a proven end-to-end cost management solution, Valify has helped hundreds of hospitals proactively manage expense, increase staff productivity, and realize significant savings.
The launch of the Valify Marketplace, health care's most comprehensive vendor catalog of products and services, in April 2019 allows significant strides toward further expediting the sourcing process for both healthcare providers and vendors. Go to GetValify.com for more information.
About Prisma Health
Prisma Health is a not-for-profit health company and South Carolina's largest private employer. We are committed to excellence in providing patient care, conducting clinical research and teaching the next generation of physicians, nurses, dentists and other medical professionals. Our organization was formed in late 2017 when Greenville Health System and Palmetto Health joined together, officially becoming Prisma Health in January 2019. With nearly 32,000 team members, 18 hospitals and more than 300 physician practice sites, Prisma Health serves more than 1.2 million patients annually – about one quarter of the state's population. Our goal is to improve the health of all South Carolinians by improving clinical quality, the patient experience and access to affordable care. Our groundbreaking programs in cardiovascular, diabetes, neuroscience, oncology and orthopedics care – as well as our two renowned Children's Hospitals – attract patients from throughout the Southeast. Ultimately, we are dedicated to transforming the health care experience for our patients and their families, our team members and our guests by bringing our purpose to life: Inspire health. Serve with compassion. Be the difference. For more information, visit PrismaHealth.org.