CHICAGO, IL – September 22, 2014 - ROi (Resource Optimization & Innovation), a recognized leader in health care supply chain management, and Procured Health, a provider of innovative hospital supply chain solutions, today announced an agreement focused on empowering hospitals to better control their medical supply costs. The agreement means ROi’s member hospitals will have access to integrate Procured Health’s IntelligencePRO and EvaluationPRO into their clinically based product evaluation and selection.
“ROi is committed to integrating new and innovative resources that better prepare our member health systems and hospitals to deliver efficient, affordable and high quality care,” says JoAnne Levy, Vice President of Integrated Sourcing Solutions for ROi. “Procured Health’s solutions are groundbreaking, and allow hospital stakeholders to evolve the way they collectively make purchasing decisions – selecting the right product, for the right patient at the right time, and positively impacting both clinical outcomes and financial performance as a result.”
Procured Health’s portfolio of solutions is designed to aggressively reduce medical product expenditures - typically the second largest and fastest growing cost category for hospitals, accounting for more than $25 billion in wasteful spending annually. Procured’s web-based solutions enable hospital systems and clinicians to improve both clinical outcomes and financial performance by incorporating evidence into their product selection and contracting strategy, driving product intelligence, with the potential to optimize product utilization and physician engagement.
“Healthcare reform requires hospitals to transform virtually every area of care delivery,” explains Hani Elias, CEO of Procured Health. “And while supply costs are an almost universal source of pain for providers, few have a sophisticated decision process in place to mitigate it.”
Clinicians are key stakeholders in the evolution of any product evaluation and selection program, but typically lack the evidence-based data needed to change the status quo. Elias adds, “Our platform is designed to help providers emerge from the philosophy of reforming care into real, day-to-day tactical applications that adapt to their existing care models. This is where real reform will happen – not in an academic paper, but rather each time a single decision to purchase a device is made.”
Franciscan Missionaries of Our Lady Health System (FMOLHS), one of Louisiana’s largest nonprofit health care systems, and Mercy, the nation’s fifth largest Catholic health care system, are among ROi’s members that will initially access Procured Health’s solutions. Both have realized significant savings through their strategic supply chain partnership with ROi.
“Our health system has a significant interest in the leverage to be gained through the IntelligencePRO and EvaluationPRO platforms,” says Kathy Chauvin, Health System Director of Resource Utilization and Value Analysis for FMOLHS. “Our supply chain team is committed to serving as a proactive and strategic partner for physicians. We recognize that, going forward, ensuring both financial health and patient access within hospitals will be largely dependent on new and innovative approaches – – we want to be a leader in those pursuits.”
Betty Jo Rocchio, Vice President of Perioperative Performance Acceleration for Mercy, adds, “The solutions provided by Procured Health will help bring increased visibility to our product evaluation process across our facilities. Having access to up-to-date market and clinical research data is integral to helping us manage new technology and product requests.”