Health Systems Leverage MD Buyline’s Purchased Services Program to Reduce Operating Expenses

Savings on purchased and outsourced services fall straight to the bottom line.

DALLAS, TX — December 12, 2013 — Last quarter, MD Buyline added hundreds of additional facilities to its purchased services offering, including a partnership agreement with one of the nation’s largest healthcare consulting firms where MD Buyline will provide analytics and expertise to a select group of clients. These organizations joined the MD Buyline Purchased Services Program network of members to share best practices and realize savings based on nationwide data, including price benchmarking.

Buyline Purchased Services Program members turn to MD Buyline to achieve 10% to 30% savings on average across more than 200 categories of purchased services and over 16,000 vendors nationwide. By implementing MD Buyline’s best practices, member hospitals have quickly realized a 3% sustainable improvement in their operating margins. “As we continue to build solutions that leverage our data and expertise to lower the overall cost of healthcare, members have access to the most reliable data, technology and service. With this unique approach, our members are realizing immediate and long-term positive impacts to their hospital’s profitability,” said Satin H. Mirchandani, CEO of MD Buyline.

MD Buyline’s Purchased Services Program is unique in that it offers hospitals four main ways to reduce purchased services expenses. “Our program is designed to give system executives the same visibility and control over purchased services as they are used to having over physician preference items, supplies and capital,” said Mirchandani.

  • MD Buyline identifies and categorizes purchased services spend based on various data points. MD Buyline loads this data into an online platform. A custom dashboard consolidates and provides visibility into all purchased services spend, which then allows the member and MD Buyline to prioritize savings opportunities and initiatives.
  • Within the online platform, members can access the Knowledge Base to research best practices from sample RFPs, SLAs, SOWs and many more best practices. This helps hospitals scale to support their Value Analysis and Purchasing teams as well as provide broad category expertise.
  • The online platform also consists of workflow and reporting tools. This creates a long-term, sustainable approach to managing purchased services with an online workflow, analytics and management reporting tools, which allow stakeholders to improve efficiency, create processes and drive home results.
  • Members can reach out to MD Buyline’s purchased services experts for intensive and exhaustive support with their initiatives. MD Buyline experts dive deep into a purchased service category at the member’s direction to identify savings and recommend a negotiation strategy for better contract terms. “Our program allows hospitals to recognize immediate gains by taking advantage of our purchased services experts and their in-depth analysis while implementing a full developed and sustainable solution to manage all purchased services contracting,” said Mirchandani.

About MD Buyline

Healthcare providers recognize MD Buyline as the leading provider of evidence-based information and research. By creating transparency and fostering consultative relationships, MD Buyline has partnered with providers for more than three decades to identify cost reduction opportunities. Providers rely on MD Buyline’s data and clinical analysts for financial and clinical insight to reach long- and short-term goals. For more information, please visit www.mdbuyline.com and follow MD Buyline on Twitter, @MDBuyline.