SaaS-Based Cost Management Platform Provides Technology Solution to Control and Capture Savings
Medpricer, the only complete cost management solution for purchased services, today announced the release of their mSource platform. Enabling a hybrid of software and services, mSource empowers healthcare systems with the technology, insight and expertise to independently find, get, and keep purchased services savings.
mSource, a single platform built on over a decade of network and purchased services sourcing expertise, fulfills a vital need in the market. To date, hospitals and healthcare systems have been forced to rely on a collection of GPOs, consultants, or software tools from multiple providers. With mSource, Medpricer works alongside customers to teach them how to independently use the platform while simultaneously gaining savings on real projects.
“Medpricer has saved us an average of 17% and reduced sourcing cycles by at least 50% over the years we have worked with them,” said Luis Valadez, Director of Supply Chain Management at Hennepin County Medical Center. “We were thrilled when Medpricer introduced us to their mSource platform. We can now manage our entire purchased services analytics and sourcing process to secure the savings independently. Using mSource, we are providing our in-house team with tools to help them achieve our sourcing objectives and improve service levels. This empowerment model is a natural evolution of our relationship and a first in the industry,” he added.
Unlike consultants whose knowledge leaves when they do, mSource tracks and stores all resulting project data, templates and supplier records for later use. Unlike GPOs, mSource enables self-contracting. And, unlike point software tools, mSource’s analytics, benchmarking, sourcing, and contract management modules are built to work seamlessly for network gain. This tech-enabled, systematic approach to purchased services empowers hospitals and healthcare systems to gain and retain significant savings, sustainably year-after-year.
“Our customers have the potential to deliver great value and savings to their organizations, but lack tools and on demand support. For the past eleven years, we have worked with healthcare systems to generate $500 million in cost savings using our sourcing technology. We are now making our technology available directly to our customers through our mSource platform so they can manage purchasing services costs on their own or with us if they choose,” said Chris Gormley, CEO of Medpricer.
“Our goal is to ultimately transition every customer to our integrated analytics, benchmarking and self-contracting platform backed by Medpricer sourcing services to help them operate independently,” explained Gormley. “mSource is changing the very nature of how organizations source and save. It ushers in an era of greater insight, empowerment and self-sufficiency,” he added.
To learn more about mSource or request a demonstration, please visit http://www.medpricer.com.