IRVING, Texas--(BUSINESS WIRE)--Vizient, Inc announces a strategic partnership with Surgery Exchange LLC to enable greater access to a cloud-based solution that addresses a persistent surgical process challenge for hospitals and surgery centers: efficient surgery planning and case management. This collaboration creates both clinical and operational efficiency by eliminating manual ordering, tracking, and billing of implant “bill only” cases by streamlining the surgery workflow.
Implant surgery can be highly complex, requiring not just the appropriately sized implant but components and instruments to be used with it, all of which must be prepared prior to the procedure. Manual procurement processes create ordering errors and inaccuracies, resulting in millions of dollars of product being stored at the hospital, often with little oversight or accountability for inventory management.
Vizient members will now have the opportunity to modernize their inventory management process for medical devices through the Surgery Exchange Platform™, a comprehensive implant/bill-only process technology solution. Supply partners also benefit from the ability to add other supply chain technologies and applications to the platform, which can quickly automate and complement existing processes.
“By expanding our relationship with Surgery Exchange we are better able to help our members solve a historical challenge for managing inventory required for implant surgeries. We will also be able to integrate our clinical and spend data which will give members additional insight into opportunities for greater cost efficiencies,” said Simrit Sandhu, executive vice president, transformation & clinical supply solutions for Vizient.
The University of Chicago Medical Center looked to Surgery Exchange because manual requisitions were resulting in use of non-contracted products and much of the process was inefficiently tracked through email. With too many touches, this led to pricing inconsistencies and inaccuracies that resulted in longer payment cycles and invoice holds.
As a member of Vizient’s Supply Chain Strategy Council (SCSC), which has identified implant / bill-only as a priority, University of Chicago Medical Center is looking forward to implementing the platform, which will enable the health system to standardize and automate requisition data for bill-only items. They expect to see value in pricing accuracy for purchase orders, productivity gains in accounts payable as well as timely payment to supply partners.