Medpricer Adds Intelligent Tech to its mSource® Analytics

With new data workflows, the purchased services provider has developed predictive and prescriptive analytics to fill industry needs for healthcare supply chain.

July 30, 2019 – Guilford, CT/Walnut Creek, CA —  Medpricer, the leading purchased services cost management solution for the healthcare industry, today announces they are rolling out game-changing features within it mSource® Analytics module. The newest features come with a re-organization of their analytics platform, providing deeper data insights to purchased services contract managers and sourcing VPs alike.

As the only purchased services SaaS platform to integrate artificial intelligence (AI), predictive analytics, and prescriptive analytics, mSource® helps supply chains to know exactly where they stand with their suppliers. mSource® Analytics workflows help users to auto-categorize spend with the use of AI, create a prediction of categories with ripe savings opportunities, develop a custom project roadmap, and provide in-depth spend trends.

With the latest improvements, mSource® provides speed, transparency, and accuracy of purchased services category reporting, so that customers can make fast, informed business decisions.

AI Category Reports
AI Category Reports increase the speed to reporting success with the help of AI. Get a clear view of purchased services spend by facility, supplier, and category – so you can eliminate off contract spend and maintain regulatory compliance.

Predictive Plan
Evaluate savings opportunities, set attainable category goals, and customize your department’s sourcing roadmap. Initiate a savings projects, monitor spend performance, and track momentum with project automation.

Insights
View all upcoming contract renewals – by date and spend threshold. With an all-new, intuitive user interface, Insights helps customers find unwanted recurring charges, view contract alignment and consolidation opportunities, and evaluate major changes in spend by category to compare with utilization.

“Our latest installments to mSource® are a direct reflection of our customer’s growing needs,” said Medpricer Chief Customer Officer Mickey Meehan. “The needs of the healthcare supply chain are quickly evolving – which is driving the increased adoption of artificial intelligence to drive strategic business decisions.” 

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Premier Inc. Acquires Medpricer to Optimize Savings on Purchased Services. Medpricer will continue to provide its industry-leading, GPO-agnostic purchased services solutions. With a shared vision of margin improvement for its customers through spend transparency and diligent cost control, this announcement positions healthcare providers to negotiate stronger third-party contracts and optimize ROI.