Press Room

Welcome to BroadJump's online press room where you'll find press releases on health system partnerships and other announcements.

For more information, contact Janet Holland at info@broadjumpllc.com

BroadJump Releases Third Generation Supply Chain Cost Transparency Platform

New platform delivers enhanced user interface, new algorithms to help hospitals leverage purchasing power to achieve supply chain savings

Dallas, TX, March 07, 2017 – BroadJump, LLC, a leader in advocating for supply chain cost transparency through web-based data and analytics tools, announced today that it has launched the third generation of its medical and surgical expense analytics platform. This release includes a fully overhauled user interface – designed to make complex operations executable through just a couple of clicks – and major upgrades to the company’s AutoPricer (TM) and PriceChecker (TM) products.

Goods and services – including supplies – are the fastest growing expense category for U.S. hospitals. (1)   BroadJump’s easy-to-use online tools help hospitals assess the favorability of their pricing compared to other hospitals, identify savings opportunities and improve contracting speed and efficiency.

The new platform will allow BroadJump clients to identify supply chain savings opportunities more quickly, validate and compare proposed pricing, track the impact of price negotiations and compare expected and realized savings. Specific enhancements include the following:

  • Ability to upload and compare price proposals to current and market pricing – for products the client buys regularly and products the client has never purchased;
  • Ability to check prices on multiple products at the same time and to create custom market baskets for on-going research;
  • Sole Source Summary identifying opportunities in highly compliant categories; and
  • For Multi-Hospital Systems, price parity summary identifying opportunities for savings by using prices within the hospital’s own system

“BroadJump’s redesigned visual interface provides users with an enhanced experience that is clean and simple to use,” said David Ricker, founder, chairman and CEO. “A key focus of the redesign was to make the site even easier to use, while providing advanced features that will be valued by the savviest of supply chain teams.” 

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 

Sources -

(1) Sherry Glied, Stephanie Ma, Claudia Solis-Román, “Where the Money Goes: The Evolving Expenses of the U.S. Health Care System,” Health Affairs, July 2016

Managing the Healthcare Supply Chain in a Brand New Way

Interview with: Dan DeTorrice, President and Chief Information Officer, BroadJump, LLC.

Dallas, Texas, (Marcus Evans) September 19, 2016 – “Hospitals overpay for supplies and medical devices due to a lack of pricing transparency and inefficient supply chain processes,” according to Dan DeTorrice, President & Chief Information Officer, BroadJump, LLC. Healthcare finance and supply chain executives should ensure they are paying the right price for products currently used in the hospital before contemplating switching vendors or products, he suggests. 

BroadJump, LLC is a solution provider at the Marcus Evans National Healthcare CFO Summit Fall 2016, taking place in Los Angeles, California, October 16-18. 

Why do hospitals overpay for supplies and medical devices? 

Hospitals routinely procure medical supplies, devices and drugs in order to care for their patients. When doing so, they often pay a price for these items without knowing the fair price to pay. This is due to a pervasive lack of information – or a lack of cost transparency – about the fair market value of medical and surgical supplies. This is one of hospitals’ biggest struggles today: not knowing fair market prices gives suppliers the upper hand over hospitals when negotiating the sale of these goods. 

Consider this: in any quarter, the average acute care hospital buys 25,000 different products, which typically takes 1,500 contracts. Prices in certain categories can also drop over time, so hospitals must have the latest information on market prices for supplies to ensure their costs are staying in line. 
Luckily for hospitals, new and emerging, on-demand applications help them quickly and easily understand the marketplace. It is a completely new way of managing complex supply expenses with fewer resources, ensuring they pay fair prices for the supplies they purchase. 

How can hospitals improve their sourcing process with data analytics? 

Automation is key. New-to-market technologies can help hospitals prioritize where to focus their efforts to get the biggest bang for their buck. When negotiating with suppliers, they need to have facts and figures that prove where their prices should be in the marketplace. With real-time information at their fingertips, contracting executives can ensure they are paying fair market prices.   

At BroadJump, we believe hospitals should first try to reduce the price of products they already purchase before looking to switch vendors or products. Our research has proven this is the easiest, fastest and most efficient way to save money. 

What impact can this application have on labor productivity? 

BroadJump’s proprietary application allows hospitals to do more with less, to manage increasingly complex supplier negotiations with fewer people. Our technology reduces sourcing time from months to minutes, which is critical to financial success in today’s environment. 

What trends should hospitals prepare for? 

With today’s technologies, hospitals can identify trends in different markets or categories. With BroadJump’s application, they can ascertain if peer hospitals are having success negotiating lower prices and then use that intelligence to inform their own supplier negotiations. 

Closing thoughts? 

Transparency is here. If you run a hospital, you are addressing this already on the consumer front, because patients demand it. With average hospital margins shrinking and financial pressures mounting, that same sort of discipline must also be applied to what hospitals pay their suppliers. In the future, every hospital in the country will have on-demand analytics to maximize efficiency in the supply expense area and they won’t remember how they managed their business without it.  

About the National Healthcare CFO Summit Fall 2016

The 24th National Healthcare CFO Summit is the premium forum bringing senior level finance executives and solution providers together. As an invitation-only event, taking place behind closed doors, the Summit offers an intimate environment for a focused discussion of key new drivers shaping the healthcare industry. Taking place at The Ritz-Carlton, Marina del Rey, Los Angeles, California, October 16-18, 2016, the Summit includes presentations on transitioning to value-based care, aligning clinical and financial leadership, patient friendly billing and collections, and successfully navigating M&As.  

Source: http://events.marcusevans-events.com/healthcarecfo2016-dan-detorrice/

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 

Intalere Partners with BroadJump, LLC to Launch Industry-Leading Real-Time Cost Transparency Tool Intalere OptiPrice Advantageā„ 

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 Advantageā„  (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.

About Intalere

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.

Source: http://www.prweb.com/releases/2016/09/prweb13691542.htm

Pulling back the curtain: Four ways rebates, other tactics obscure true pricing in the healthcare supply chain

Written by David Ricker, founder and CEO of BroadJump

September 7, 2016 – Medical and surgical supplies represent the second largest expense for hospitals after labor costs; however, most hospitals lack a complete picture of what they ought to pay for supplies compared to what other hospitals pay for identical items.

--- Click here to read the remainder of this article at Becker's Hospital Review. 

Original publisher and producer - Becker's Hospital Review.

BroadJump Earns National Recognition for Workplace Culture

Technology firm selected as one of Modern Healthcare's "Best Places to Work in Healthcare"

Dallas, TX, August 23, 2016 – BroadJump, LLC, a leader in advocating for supply chain cost transparency through web-based data and analytics tools, has been selected as one of Modern Healthcare's "Best Places to Work in Healthcare." The recognition is awarded annually by the national publication to organizations fostering a positive workplace culture.

"We are honored to be recognized as a best place to work," said David Ricker, founder, chairman and CEO of BroadJump. "At BroadJump our priority is providing hospitals with timely data to help them identify savings and reduce their supply chain costs. We could not deliver this technology and expertise to our customers without the dedicated team of professionals who help propel us forward every single day."

Now in its ninth year, Modern Healthcare's Best Places to Work in Healthcare recognition program annually honors workplaces in the industry that empower their employees to provide the best possible care, products and services to patients and customers. BroadJump joins a total of 100 organizations nationwide awarded this designation.

Since the company was founded in 2012, BroadJump has strived to provide a supportive work environment that fosters innovation and rewards strategic thinking from its employees. The company has continued to work at transforming the healthcare industry by providing web-based data and analytics tools that enable hospitals to evaluate market prices on medical and surgical supplies, renegotiate prices and contracts and achieve significant reductions in operating expense.

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.

Source: http://www.prnewswire.com/news-releases/broadjump-earns-national-recognition-for-workplace-culture-300317106.html

North Mississippi Health Services contracts with BroadJump for Supply Chain Data Analytics

BroadJump’s Web-based data analytics uncover significant savings opportunities

Dallas, TX, March 23, 2016 – BroadJump, LLC announced today that North Mississippi Health Services in Tupelo, Mississippi, has executed an agreement with BroadJump to use BroadJump’s analytics to help identify cost reduction opportunities in its supply chain. BroadJump offers a suite of interactive, Web-based supply chain tools that allow hospitals and health systems to quickly uncover cost reduction opportunities for medical/surgical supplies. North Mississippi Health Services will use BroadJump’s data analytics to gain immediate access to an unbiased and unprecedented view of comparative price points and other pertinent data about the market for medical/surgical supplies.

“We are very pleased to be working with North Mississippi Health Services,” stated David Ricker, chief executive officer for BroadJump. “North Mississippi Health Services was an early and enthusiastic supporter of our technology and by leveraging the intelligence of the BroadJump platform, they have – and will continue to – achieve considerable cost savings.”

About North Mississippi Health Services

North Mississippi Health Services is a diversified regional health care organization, which serves 24 counties in north Mississippi and northwest Alabama from headquarters in Tupelo, Miss. The NMHS organization covers a broad range of acute diagnostic and therapeutic services, offered through North Mississippi Medical Center in Tupelo; a community hospital system with locations in Eupora, Iuka, Pontotoc, and West Point, Miss., and Hamilton Ala.; North Mississippi Medical Clinics, a regional network of more than 30 primary and specialty clinics; and nursing homes. NMHS offers a comprehensive portfolio of managed care plans. Educational programs and early intervention are important aspects of our services, but our main focus is to provide convenient access to quality health care. NMHS works to achieve its corporate mission to improve the health of the people of this region by providing conveniently accessible, cost-effective health care of the highest quality. NMHS is a 2006 and 2012 recipient of the prestigious Malcolm Baldrige National Quality Award.

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.

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

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.

Eisenhower Medical Center Renews Relationship with BroadJump for Supply Chain Data and Analytics

Leading medical center extends contract with BroadJump, exceeds cost savings goals

Dallas, TX, February 03, 2016 – BroadJump, LLC announced today that Eisenhower Medical Center in Rancho Mirage, California has renewed its contract with BroadJump for supply chain analytics. BroadJump offers a suite of on-demand, Web-based analytic tools that allow hospitals and health systems to quickly reduce their costs for medical supplies, which can represent up to 20 percent of a hospital’s operating expense. The company drives efficiency in supply chain management and provides transparency into the market for products hospitals currently use.

“BroadJump provided our materials management team with the data intelligence it needed to achieve fair market pricing for the supplies we purchase for patient care,” stated Ken Wheat, senior vice president and chief financial officer at Eisenhower Medical Center. “We set a hard-dollar cost savings goal and exceeded it within the first several months of our BroadJump implementation, making our decision to renew our contract an easy one.”

BroadJump’s AutoPricer allows hospitals to compare the details of their current spend – i.e., price per item, volume and percentage spend by category or supplier – with the same information from hundreds of other hospitals. Results can be filtered to ensure peer comparison based on size, system status and other factors. With a few clicks, hospitals can easily assess the favorability of their pricing compared to other hospitals and identify savings opportunities.

“We have been using the BroadJump platform since 2014,” stated Joanne Singh, director of materials management at Eisenhower Medical Center. “We have great physician support for our proactive efforts to ensure we pay current market prices for our supplies. When evaluating a new product, physicians routinely ask us if we have ascertained the market price using BroadJump.”

“We are pleased that Eisenhower Medical Center outperformed its own expectations for achieving measurable cost savings through the use of BroadJump’s data analytics,” stated David Ricker, chief executive officer for BroadJump. “We look forward to continuing our support of Eisenhower Medical Center’s materials management team and the hospital’s overall cost savings goals.”

About Eisenhower Medical Center:

Eisenhower Medical Center is a dynamic, progressive health care complex comprised of a 476-bed hospital, the Annenberg Center for Health Sciences at Eisenhower, and the Barbara Sinatra Children’s Center at Eisenhower in addition to its outpatient facilities in Palm Springs, Cathedral City, Rancho Mirage and La Quinta. The Betty Ford Center is also located on the Eisenhower campus. Eisenhower not only offers the highest quality health care for residents and visitors, but additionally provides a broad range of educational programs for the public, and for health care professionals. For more information visit www.emc.org.

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.

CHRISTUS Health Extends Agreement with BroadJump for Supply Chain Data Analytics

BroadJump’s Web-based data analytics prove beneficial in helping system lower costs, leading to multi-year contract renewal

Dallas, TX, December 02, 2015 – BroadJump, LLC announced today that CHRISTUS Health in Irving, Texas has executed a renewal agreement with BroadJump extending its use of BroadJump’s analytics to help identify cost reduction opportunities in its supply chain.

BroadJump offers a suite of interactive, web-based tools that allow hospitals and health systems to quickly uncover cost reduction opportunities for medical/surgical supplies. CHRISTUS Health utilizes BroadJump’s data analytics to gain immediate access to an unprecedented, unbiased view of comparative price points and other pertinent data about the market for medical/surgical supplies. By comparing its purchasing practices to other hospitals and health systems, CHRISTUS Health has been able to reduce the costs of products they already purchase, without product conversions.

“We are very pleased that CHRISTUS Health has renewed its agreement with BroadJump to support efforts to further reduce costs for medical and surgical supplies,” stated David Ricker, chief executive officer for BroadJump. “CHRISTUS Health was an early and enthusiastic adopter of our technology, and by leveraging the intelligence of the BroadJump platform, they have already achieved considerable cost savings.”

“When we first saw BroadJump’s application, we immediately realized the power that the information provided would give our supply chain,” stated Ed Hardin, system vice president, supply chain management, for CHRISTUS Health. “The application has helped us identify significant financial opportunities and serves as one of our most important and widely used tools to bring down costs. The company’s analytics show us how much we are buying and what we are paying relative to the purchasing practices of other hospitals and health systems. We then use that information to support our faith-based mission. As a not-for-profit health care system, our cost-savings are used to bring value to and reinvest in the communities we serve.”

Sean Poellnitz, CHRISTUS Health’s director, contracting and resource utilization said, “BroadJump’s easy-to-use technology took our traditional value analytical process from months to just minutes and provides actionable data allowing us to quickly begin negotiations with our suppliers. BroadJump is helping us significantly reduce the cost of the supplies and devices we already purchase, so we don’t have to conduct lengthy product conversions in order to achieve savings.”

About CHRISTUS Health:

CHRISTUS Health, an international Catholic, faith-based, not-for-profit health system, is headquartered in Dallas and is comprised of almost 350 services and facilities, including more than 60 hospitals and long-term care facilities, 175 clinics and outpatient centers and dozens of other health ministries and ventures. CHRISTUS services can be found in 60 cities in six states in the U.S., seven states in Mexico, and one state in Chile. The system employs approximately 30,000 Associates and has almost 13,500 physicians on facility medical staffs who provide care and support for patients. Our dimension, strength, and depth of service place CHRISTUS Health among the top Catholic health systems.

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.