Global Healthcare Exchange, LLC (GHX) today announced its redesigned cloud-based business intelligence application, Provider Intelligence. The new solution provides enhanced visibility into healthcare providers’ operational and financial performance based on information from multiple sources and continues GHX’s strategy of driving more value through its CoreX platform.
Provider Intelligence was redesigned to provide healthcare organizations better access to critical supply chain metrics using data from GHX solutions as well as the hospital’s ERP system. The new Provider Intelligence assembles a provider’s data and delivers it via interactive charts through GHX CoreX, the platform where more than 14,000 healthcare provider facilities transact and access their data. From high-level executive dashboards to item-level reporting, Provider Intelligence makes it easier for providers to identify trends and set relevant targets for their organizations, whether a single hospital or a large multi-hospital system.
“Managing the multitude of products, supplies and contracts in the supply chain is complex and time consuming, and hospitals need business intelligence tools that give visibility into what is working and where there are opportunities for even more efficiencies and effectiveness,” said Chris Luoma, vice president, Product Management, GHX. “With Provider Intelligence, we want to help our provider customers interpret and elevate the information in their current GHX solutions into actionable supply chain decisions that help ensure cost-cutting goals are realized. That is always the bottom line for us, to help our customers drive efficiency and savings.”
Leveraging best-in-class data visualization technology, users can access guided analysis to discover different areas of automation, quality and contract utilization opportunities. The application’s dashboard gives a broad perspective of overall supply chain automation, factoring in major KPIs around the GHX Exchange (orders, invoices, exceptions, contract utilization) and item management health.
Provider Intelligence also allows organizations to measure, track and set goals based on the following:
e-Commerce growth by spend and trading partners for the electronic purchase order and invoice
Trading partner efficiencies by tracking e-commerce exceptions (backorders, contract price, unit price, UOM, part number, recurring exceptions) with score cards and best-in-class comparisons
Aligning Exchange and purchase order history spend to contract data to help ensure contract compliance
Off-contract spending in product areas with highest impact
Vendor standardization opportunities through item classification by United Nations Standard Products and Services Code® (UNSPSC)
Non-file spend, price deviation and item duplication
“What we consistently hear from our provider customers is that they want to be named to the GHX Best 50 Provider list.” added Luoma “Without quality data and an application designed specifically for supply chain, it’s difficult for organizations to set these performance goals, understand metrics relative to best-in-class performers, and assess where efforts are being wasted or money is being lost. Provider Intelligence helps achieve this by persistently monitoring KPIs to fully utilize an organization’s GHX investment and improve operational efficiency.”
About GHX
Global Healthcare Exchange, LLC (GHX) drives costs out of healthcare with cloud-based supply chain management technology and services to help enable better patient care and savings by maximizing automation, efficiency, and accuracy of business processes.GHX offers healthcare providers and suppliers an open and neutral electronic trading exchange that delivers procurement and accounts payable automation, contract and inventory management, vendor credentialing and management, business intelligence, and other supply chain-related tools and services. For more information, visit www.ghx.com and The Healthcare Hub.