SOURCE: VHA Inc.

December 21, 2011 11:36 ET

Wentworth-Douglass Hospital Opens Doors to Vendor Negotiations Using VHA LYNX™ Solutions

Utilizing VHA PriceLYNX™ and VHA DataLYNX™ Helps Member Cleanse Data, Identify Pricing Disparities

IRVING, TX--(Marketwire - Dec 21, 2011) - Coming to the table with accurate data intelligence is the single most powerful tool a hospital can utilize to negotiate pricing with suppliers. Administrators at Wentworth-Douglass Hospital in Dover, N.H., say they were largely flying blind, especially on costly physician-preference items, until they tapped into the power of VHA's analytics tools.

Subscribing to VHA PriceLYNX and VHA DataLYNX gave Wentworth-Douglass the ammunition they needed to benchmark vendor pricing against the industry and qualify for optimal tier pricing using their newly cleansed data. By cleansing their existing data with VHA DataLYNX, and comparing it to industry pricing using VHA PriceLYNX, they could see pricing disparities and improve their overall supply chain process. Having this advantage saved the hospital $200,000 on just one initiative, and continues to provide directional insight to support their efforts.

With a clean item master, hospitals have more reliable, actionable data. And with a way to accurately benchmark product pricing with comparative percentiles of hospitals nationwide, hospitals can identify and implement lucrative cost-saving opportunities.

"Using the two VHA LYNX™ products helped us cleanse our data and gain more accurate insight into our pricing," said Greg Wieder, director of materials management at the 178-bed general medical and surgical facility. "Now, we can see if we're paying more than we should by searching catalog numbers and comparing our pricing to industry pricing. Access to this level of information helps us save money by making better purchasing decisions."

"If hospitals are to prevail in today's competitive environment, they need competitive insight," says Nik Fincher, vice president, analytics sales at VHA Inc. "More importantly, the knowledge gained through VHA's analytics tools can help drive clinical and operational efficiencies that will result in superior patient care. Having this level of knowledge at your fingertips creates a new opportunity for informed dialogue that previously had no factual basis."

VHA DataLYNX and VHA PriceLYNX are two highly compatible components of VHA LYNX, a robust analytical solution set that helps hospitals cut costs and improve supply chain management. No other suite of information and technology services on the market today can match the scope or success rate of VHA LYNX.

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. Since 1977, VHA has leveraged its expertise in analytics, contracting, consulting and networks to help members achieve their operational, clinical and financial objectives. In 2010, VHA delivered record savings and value of $1.7 billion to members. VHA serves more than 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 ranked as one of the best places to work in healthcare by Modern Healthcare since the publication introduced this list in 2008.

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