SOURCE: VHA Inc.

April 26, 2011 11:44 ET

Freeman Health System Selects VHA Inc. Price Benchmarking Service

VHA PriceLYNX™ Provided CFO With the Necessary Knowledge to Lower Spending on Physician Preference Items

IRVING, TX--(Marketwire - Apr 26, 2011) - Freeman Health System, Joplin, Missouri, has selected VHA's price benchmarking service, VHA PriceLYNX to help develop a roadmap to reduce supply chain costs to improve the organization's bottom line.

Recently, Freeman formed an internal strategy group to identify ways to accelerate the system's performance. When Steve Graddy, chief financial officer at Freeman Health, learned about VHA PriceLYNX, he knew it would give the team an accurate and timely starting point.

"We've never had the ability to clearly see what we are spending on surgical implants and other items in the physician preference arena so we could determine if we are paying a fair price," said Graddy. "Now, with VHA PriceLYNX, we can have proactive and productive conversations with physicians and suppliers, which ultimately improves our bottom line."

Freeman Health, a 404-bed, three-hospital system, provides comprehensive health care and behavioral health services to more than 450,000 people in Missouri, Arkansas, Oklahoma and Kansas.

VHA PriceLYNX represents information from the industry's largest and most timely database, reflecting an accurate picture of pricing from hospitals and health systems nationwide. The VHA PriceLYNX subscription includes access to a pricing advisor; a supply chain professional who works closely with the hospital's purchasing staff to interpret benchmarking results and assists in developing a plan to quickly implement cost-saving opportunities.

"The ability to compare supply chain performance to other hospitals and use benchmarks to achieve superior results is what subscribers are excited about," said Justin Hibbs, senior director, Analytics Strategy and Marketing at VHA. "It's the type of meaningful insight hospital executives are looking to provide to their staff as they tackle cost reduction efforts."

VHA PriceLYNX is just one component of VHA SupplyLYNX™, VHA's robust suite of analytical solutions that help hospitals cut costs and improve supply chain management. This powerful array of products and services also includes: VHA DataLYNX™, VHA Physician PreferenceLYNX™, a contract catalog, plus supplemental services that further improve members' cost saving opportunities such as spend analysis, services analysis and pharmacy analysis.

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. In 2009, VHA delivered record savings and value of $1.47 billion to members. Formed in 1977, VHA serves 1,350 hospitals and more than 30,000 non-acute care providers nationwide, coordinating delivery of its programs and services through its 16 regional offices. VHA has been listed as one of the best places to work in health care by Modern Healthcare since 2008 and one of the best places to work in IT by Computer World since 2007.

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