SOURCE: VHA

June 21, 2010 11:10 ET

VHA PriceLYNX™ 2.0 Makes Price Containment Easier, Faster for Hospitals

IRVING, TX--(Marketwire - June 21, 2010) -  When hospitals are asked to squeeze every possible dollar from their system and stretch their purchasing budgets taut, a singular service, VHA PriceLYNX™, continues to be recognized for its significant contributions to hospitals' cost containment efforts. Today, VHA Inc., the national health care network, announced several new features to VHA PriceLYNX, underscoring its reputation as one of the industry's more innovative and influential supply management offerings. 

"Our members have told us that VHA PriceLYNX is a powerful ally in their day-to-day sourcing activities," says Scott Downing, executive vice president at VHA. "In just over a year, its subscriber base has increased exponentially as more users find value in the unique market perspective it provides."

Hospitals understand the importance of business intelligence and are leveraging price benchmarks to gain control of their supply chain, better negotiate prices with vendors, improve overall system performance and even boost employee morale. VHA PriceLYNX 2.0 will enhance these efforts through new features that track individual pricing performance against market trends, updated savings identification and implementation dashboards and the ability to better compare an individual hospital's overall spending performance against other hospitals.

"These new VHA PriceLYNX features have really taken price management to a new dimension," says Sandy Dierlam, purchasing manager for Columbus (Ind.) Regional Hospital. "For the first time, we have the ability to see the best prices being paid in the market. Now that we know, my team loves to leverage that information in order to achieve additional savings for our organization."

VHA PriceLYNX 2.0, which will be on display at VHA's booth No. 1178 at the HFMA/ANI conference in Las Vegas from June 20 - June 23, compares individual hospital costs to the market and reflects a true market view of pricing by showing pricing from both contract and non-contracted items. In addition, new pricing data is uploaded weekly, allowing subscribers to work collaboratively with their dedicated VHA supply chain expert to focus their cost reduction efforts and identify and realize immediate and long-term, sustainable savings. 

VHA PriceLYNX is just one component of VHA SupplyLYNX™, VHA's robust analytical solution that helps hospitals cut costs and improve supply chain management. This powerful suite of products and services includes VHA DataLYNX™, VHA Physician PreferenceLYNX™, Spend Analysis, Services Analysis, Pharmacy Analysis and the Contract Catalog, plus supplemental services that further improve members' cost saving opportunities.

About VHA
VHA Inc., based in Irving, Texas, is a national network of not-for-profit health care organizations that work together to drive maximum savings in the supply chain arena, set new levels of clinical performance and identify and implement best practices to improve operational efficiency and clinical outcomes. Formed in 1977, through its 16 regional offices, VHA serves more than 1,400 hospitals and more than 28,000 non-acute care providers nationwide. VHA was ranked by Modern Healthcare as the 7th best place to work in health care in 2009.

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