Demand More From Your Analytics
It’s time to move beyond pivot tables and ditch the data-in data-out method of reporting on your purchased services. mSource® Insights adds layers of value to your purchased services reports to help you answer high-impact questions. With cognitive insights, mSource® analyzes your spend data in the context of our transactions database and prepares actionable recommendations of it.
Stay on top of upcoming contract expirations
Uncover unwarranted repeating charges
Discover unique suppliers or minimal internal marketshareupplier
Major Spending Changes
Address signiﬁcant ﬂuctuations in payments
Sync upcoming expirations with longer term peer contracts
Cut Through the Noise
Overcome the constant flow of contract requests and hundreds of expiring contracts each month. Cut through the noise with of contract volume, and focus your core efforts on contract value.
Expiration Alerts features:
- Get clear visualization of your contract landscape to better plan sourcing work and contract alignment efforts
- Use filters to search by facility or spend threshold by expiration date
Don’t Get Lost in Translation
Auto-pay can be convenient, it can also pose considerable drawbacks. It is all too easy to set and forget about your purchased services contracts with reoccurring charges… which is why we have you covered. Expose recurring spend with this useful insight.
Recurring charges features:
- Identify instant savings due to recurring charges that you may not be aware of or that were implemented by a predecessor
- Cross reference contracts with AP spend to understand spend by supplier and facility
In regards to outsourced services, major spend increases can vary by season, or volume of services provided. mSource® considers the cost differential over a set time range, so you can see how your spend fluctuates with a given supplier.
Major spending changes features:
- Quickly identify large swings in spend so it can be addressed before it becomes a major issue
- Visualize decreases in spend (by $ and %) to validate your savings efforts
- View spend deltas by $ amount and %
Bundle and Save
With suppliers, the more you buy, the more you save. Keep an eye on spend by facility, and illuminate opportunities to group services.
Spend Consolidation features:
- Identify rogue spend in your hospital or network
- Find one-off suppliers that can be considered for consolidation
Get in Sync
With tens of suppliers across multiple categories, it can be difficult to align your contracts. By syncing expiration for all contracts in a given category, the supply chain can organize and simplify its renewal processes.
Contract Alignment features:
- See contract alignment opportunities to support spend consolidation efforts
- Identify opportunities for large-scale RFP with major cost savings potential
Unlock More with AI Contract Analysis
With the mSource contract analyzer, your team can quickly extract clauses and terms from your contract database. Artificial intelligence and machine learning algorithms can scan your supplier contracts in seconds – giving you instant access to find and address contracts by the contents contained within them.
AI Contract Analysis features:
- Improve speed and accuracy of contract review
- Key data results are encrypted and securely displayed
- Find and mitigate risks in your existing contracts
With automatic categorization and mSource® Predictive Plan – you can find your easy wins and track long-term savings all in one place. Take action on your Insights with RFP templates, e-negotiation tools, and Precision Benchmark Reports.
mSource® is the only purchased services software with artificial intelligence – which can analyze your purchases in the context of Medpricer’s transaction database. Machine learning algorithms study patterns to deliver quick and reliable information.
Simple and Intuitive
We ask the hard questions and surface the data insights for you. Click on data trends to get deeper information on your contracts and categories, so you can take swift action to produce measurable results.