CHICAGO, IL – March 7, 2016 – Procured Health (Procured), a provider of data-driven technologies that improve patient care while also eliminating wasteful spending, announced today that Oregon Health and Sciences University (OHSU), has selected the company’s IntelligencePRO™, PipelinePRO™, and EvaluationPRO™ solutions. The nationally-prominent research university will incorporate Procured’s cloud-based platform into their clinical product evaluations to enhance quality of care, improve patient outcomes, and reduce clinical supply costs.
OHSU, Oregon’s only public academic health center, is the number one hospital in Oregon, according to U.S. News Report’s Best Hospitals 2015-16, and ranks among the best in the nation in three adult specialties and seven pediatric specialties. OHSU was also designated a Magnet hospital by the American Nurses Credentialing Center. Last year, the health system served almost one million patients.
Clinical supplies represent the second largest and fastest growing cost category for hospitals. In addition, estimates show that poor decisions on clinical supplies will account for more than $35 billion in wasteful spending this year alone. Procured’s solutions empower the buyers and users of medical products to improve clinical outcomes while also reducing expenditures which have grown increasingly out of control in recent years.
IntelligencePRO is the most comprehensive medical product research service and platform. Based on the analysis of hundreds of thousands of data points, it facilitates a much-needed higher level of analytical rigor that incorporates FDA adverse event data, product recalls, and safety metrics. IntelligencePRO allows administrators and physicians to evaluate clinical comparability, establish utilization and practice guidelines, and strengthen negotiating leverage.
PipelinePRO is driven by IntelligencePRO’s clinical insights and a health system’s purchasing data. Pre-built, proprietary algorithms, combined with thorough analysis, enable the delivery of customized, clinically-vetted savings opportunities. These opportunities focus on areas ripe for pricing and utilization improvements, based on the findings of clinical evidence. EvaluationPRO is a best practice workflow tool that streamlines product requests, product comparisons, financial analysis, and tracking for key performance indicators (KPIs).
“OHSU understands that we’ve entered an era where hospitals cannot afford any wasteful spending, especially for expensive physician preference items where higher prices have long-been more accepted,” explains Hani Elias, Chief Executive Officer of Procured Health. “Clinical excellence, while still of utmost importance, must be coupled with efforts to reduce costs and improve efficiency in order to drive value.”