Last week, Independent Hospital Network Sourcing Group (IHN), LLC became the second healthcare purchasing alliance to launch next-level performance metrics that will help their strategic supply partners evolve the discussion beyond price through a platform called Reveal.
As an industry-leading organization committed to delivering value, IHN will now be able to leverage the business intelligence facilitated through Reveal as an additional resource for their members and suppliers. The platform allows IHN and their contracted suppliers to proactively manage partnerships by transforming rich, complex data into actionable information.
“Over the past few years, our membership has nearly doubled in size,” said IHN Executive Director Shawn Katusin. “We execute over 100 initiatives per year and manage more than $900M in spend. Partnering with aptitude to deliver actionable information regarding spend history and trends to our strategic suppliers will help accelerate our processes and elevate the value we are able to deliver to our members.”
The Reveal platform will create a direct line of sight into IHN supply chain for contracted suppliers, enabling them to understand current, historical, and future market share while reviewing competitive detail based on purchasing trends of the group, members, and facilities. With new growth and expansion to additional provider groups, the benefits to the industry will be significant – leading to greater speed to value, straightforward transparency, and information for collaboration.
“We’ve seen a growing interest and quite frankly, a need to access this type of information on a regular basis,” said Justin Hibbs, vice president, strategy and business development for aptitude. “We are seeing wide adoption from many healthcare suppliers who are advancing discussions around maximizing value of their agreements.”
IHN is a member owned, Vizient supported network comprised of 25 independent hospitals across Ohio, Indiana, Michigan, New Jersey, New York, and Virginia. Since the organization formed it has reduced costs by more than $90 million with a very strong return on investment for its members. Members of the network seek to maintain local control, remain independent while keeping costs down to ensure that cost effective, quality care stays in the communities they serve.
For more information about Reveal, contact us at firstname.lastname@example.org.