Intalere Partners with BroadJump, LLC to Launch Industry-Leading Real-Time Cost Transparency Tool Intalere OptiPrice Advantage
St. Louis, Missouri (PRWEB) September 19, 2016 – Intalere, the healthcare industry leader in delivering optimal cost, quality and clinical outcomes, today announced the introduction of Intalere OptiPrice Advantage℠ (powered by BroadJump™), a tool which provides real-time product cost transparency to help hospitals capture millions of dollars in savings on medical and surgical supply costs.
“Today, hospitals may spend months gathering information to negotiate a single pricing amendment. Even then, they may lack meaningful pricing information with which to negotiate. Intalere OptiPrice Advantage is a strategic sourcing tool which enables you to compare the price you are paying for medical surgical products to the price other hospitals from across the country are paying on the exact same products,” said Julius Heil, Intalere president and CEO.
Intalere Optiprice Advantage helps balance a facility’s negotiating power with suppliers and significantly reduces the cycle time to renegotiate pricing agreements. The solution utilizes medical-surgical product pricing data submitted monthly by more than 400 hospitals from across the country to the Intalere OptiPrice Advantage database, which is refreshed on a daily basis. Participating facilities represent both Intalere members and non-members.
Members can analyze spend by categories – such as stents, orthopedic implants, endomechanical, ICDs, osteobiologics, etc. – to determine the range of cost savings available in comparison to what other hospitals with a similar product mix are paying.
The data-driven analytical design can be filtered and formatted for customized views to enhance the depth and breadth of benchmarking needs. Intalere OptiPrice Advantage also generates a revised price list by SKU so members can seamlessly integrate this list with a pre-approved pricing amendment template. Intalere OptiPrice Advantage benefits customers by making them more:
• Efficient – Reduce negotiation preparation from six months to a few hours.
• Transparent – Access real medical-surgical product prices paid by peer hospitals with first-hand market-share and dollar volume comparison.
• Tactical – Quickly gather trusted, timely data to strengthen negotiating position and achieve a clear path to savings.
The system is extremely easy to use and can be learned in less than one hour. Intalere will also provide ongoing customer support. Yavapai Regional Medical Center and Virginia Mason Medical Center have both signed on as the newest customers of Intalere OptiPrice Advantage.
“This tool is really the epitome of making evidence-based decisions, which is becoming increasingly important in today’s healthcare marketplace,” said Tim Ingram, director of materials management, Yavapai Regional Medical Center (YRMC). “The real-time analytics, national scope, comparison modules and service line features give it an advantage over other similar tools I have used, and it really makes you comfortable and knowledgeable in terms of ‘putting you in the driver’s seat’ when negotiating.” According to Ingram, within two days of implementing Intalere OptiPrice Advantage, YRMC was able to identify more than $100,000 in price reductions on just one product.
Intalere’s partner in bringing Intalere OptiPrice Advantage to members is BroadJump LLC, which is focused on delivering supply chain analytics that drive greater efficiency and enable hospitals and health systems to manage their supply costs on-demand. The BroadJump platform is powered by the fastest growing and most up-to-date repository of healthcare supply chain data available anywhere.
Intalere’s mission focuses on elevating the operational health of America’s healthcare providers by designing tailored, smart solutions that deliver optimal cost, quality and clinical outcomes. We strive to be the essential partner for operational excellence in healthcare through customized solutions that address customers’ individual needs. We assist our customers in managing their entire spend, providing innovative technologies, products and services, and leveraging the best practices of a provider-led model. As Intalere draws on the power of our owner Intermountain Healthcare’s nationally-recognized supply chain expertise and leadership in technology, process improvement, and evidence-based clinical and business best practices, we are uniquely positioned to be the innovation leader in the healthcare industry. Visit www.intalere.com to learn more.