SOURCE: VHA

October 13, 2010 12:54 ET

NorthShore University HealthSystem Selects VHA's Price Benchmarking Service

IRVING, TX--(Marketwire - October 13, 2010) - NorthShore University HealthSystem, headquartered in Evanston, Ill., has selected VHA Inc.'s industry leading price benchmarking service, VHA PriceLYNX™, to assist with the system's ongoing cost reduction efforts. 

For Marena Gohmann, senior director of Purchasing and Analytics at NorthShore University HealthSystem, gaining better visibility into the organization's nearly $120 million in spending was a key factor in the decision, but being able to determine how her team was performing against other hospitals was also a necessity. 

With access to accurate and timely pricing details via VHA PriceLYNX, the health system is poised to achieve its $5 million cost reduction target this fiscal year. Citing the tool's ease of use and its multiple data points for benchmarking performance, Gohmann says that almost immediately she was able reduce costs. "It took two phone calls and just two days to realize several thousand dollars in cost reduction with one of our smaller vendors. It's a minor sample, but it demonstrates how we are receiving a complete view of our spending, something that we didn't have access to with other industry benchmarking services." 

With annual revenues of $1.5 billion and staff of more than 8,000, NorthShore includes Evanston Hospital, Glenbrook Hospital, Highland Park Hospital and Skokie Hospital and more than 2,000 affiliated physicians, including a multispecialty group practice with more than 75 office locations under the NorthShore Medical Group name.

"Regardless of a hospital's size, VHA PriceLYNX provides a unique perspective on industry pricing movements," says Justin Hibbs, senior director, analytics strategy and marketing for VHA. "Hospitals are finding that having a truthful and trusted source to assist with their ongoing cost reduction efforts is indispensible." 

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 includes: VHA DataLYNX™, VHA Physician PreferenceLYNX™, the 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, through its 16 regional offices, VHA serves 1,400 hospitals and more than 30,000 non-acute care providers nationwide. VHA was ranked by Modern Healthcare as the 7th best place to work in health care in 2009.

Contact Information