HealthTrust and BroadJump Offer Price Benchmarking
Agreement Enhances Value to Members through Transparent Market Pricing
NASHVILLE, Tennessee—August 2, 2017—HealthTrustSM, a performance improvement company for healthcare, and BroadJump, a provider of automated, cloud-based data and analytic tools that help hospital operators extract maximum savings from their supply chain, have entered a collaborative agreement to provide HealthTrust members with access to BroadJump’s proprietary benchmarking and pricing intelligence services. Under the agreement, subscribers will utilize the BroadJump application to assist in identifying non-competitive pricing on Physician Preference Items (PPI) and associated product categories.
The BroadJump platform empowers supply chain executives with clear visibility to the prices other hospitals are paying for identical PPI, identifying potential savings by category, manufacturer and SKU. The tools strive to deliver relevant data such as market share, volume and exact price points that are invaluable in analyzing spend patterns and negotiating with suppliers.
“BroadJump is much more than a benchmarking tool. Beyond market intelligence, we strive to deliver the extra details that matter in a negotiation,” said Greg Corban, chief operating officer for BroadJump. “Understanding the ‘why’ behind a price and using that in negotiations is far more powerful than just knowing what the market will bear.”
“Paired with our proprietary capabilities for analyzing spend, BroadJump will help clients streamline the sourcing process for Physician Preference Items from months to minutes to immediately identify categories with actionable savings opportunities,” said Fred Keller, vice president of strategic sourcing for HealthTrust. “This toolset will arm HealthTrust members with the ability to see all custom and locally negotiated prices that their peers and competitors are paying. With this knowledge, they can enter into direct negotiations with suppliers or engage our inSight AdvisorySM specialists to help them secure preferred pricing and terms on PPI and other strategic local contracts.”
BroadJump, LLC (BroadJump) delivers supply chain analytics that drive greater efficiency and enable hospitals and health systems to manage their supply costs on-demand. Through the use of its Web-based applications, BroadJump’s clients gain access to neutral, unbiased analysis of supply chain costs. The company’s in-depth reporting provides insight into each client’s true costs, and how those costs compare to its peers. The BroadJump platform is powered by the fastest growing and most up-to-date repository of healthcare supply chain data available anywhere. For more information, please visit www.broadjumpllc.com.
HealthTrust (Healthtrust Purchasing Group, L.P.) is committed to strengthening provider performance and clinical excellence through an aligned membership model and the delivery of total spend management advisory solutions that leverage our operator experience, scale and innovation. HealthTrust (http://healthtrustpg.com) serves over 1,600 acute care facilities and members in more than 26,000 other locations, including ambulatory surgery centers, physician practices, long-term care and alternate care sites. On Twitter@healthtrustpg.