University of Vermont Health Network Engages BroadJump for Supply Chain Data and Analytics
Regional Health System Leverages Web-Based Tools to Drive Efficiency, Cost Savings in Supplier Contracts
Dallas, TX, March 01, 2016 – BroadJump, LLC announced today that the University of Vermont Health Network has signed a contract with BroadJump for supply chain data and analytics, expanding on its previous relationship with the University of Vermont Medical Center. BroadJump helps hospitals extract maximum savings from their supply chain through a suite of interactive, Web-based tools that provide transparency into the market for the products hospitals currently use.
Supplies represent 20 percent of a hospital’s operating expense. Yet many hospitals do not have a clear view of what they pay for supplies compared to other hospitals. Prices paid for a given supply – like a heart pacemaker – can vary by up to 300 percent. BroadJump’s AutoPricer allows hospitals to compare the details of their current spend with the same information from hundreds of other hospitals.
“BroadJump’s data and analytics provides our strategic sourcing team insight needed to ensure our supplier agreements are market competitive,” said Charlie Miceli, Vice President and Network Chief Supply Officer at the University of Vermont Health Network.
BroadJump takes complicated algorithms and presents them in a practical and intuitive interface. Price analysis results are reported using easy-to-understand graphics – allowing hospitals to recognize and act on opportunities in moments. Armed with accurate, specific and timely data, hospitals can successfully renegotiate contracts with suppliers and achieve significant reductions in operating costs.
“We are pleased that the University of Vermont Health Network has found value in our solution and has chosen to renew their subscription with us,” said David Ricker, chief executive officer for BroadJump. “We look forward to continuing our relationship with the University of Vermont Health Network and supporting the health system’s efforts to reduce costs and improve efficiency within the supply chain.”
About BroadJump, LLC
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.
About the University of Vermont Health Network
The University of Vermont Health Network is a four hospital system serving the residents of Vermont and northern New York
- The University of Vermont Medical Center (formerly Fletcher Allen Health Care)
- The University of Vermont Health Network – Central Vermont Medical Center
- The University of Vermont Health Network – Champlain Valley Physicians Hospital
- The University of Vermont Health Network – Elizabethtown Community Hospital
With more than 4,000 health care providers throughout our region, we work together to offer high-quality care more cost-efficiently and as close to home as possible. Strengthened by our academic connection to the University of Vermont, each of our hospitals remains committed to its local community by providing compassionate, personal care shaped by the latest medical advances and delivered by highly skilled experts.