Analyze supply spend and identify savings opportunities
For more information: contact the Solution Center at 877.777.1552 or solutioncenter@premierinc.com.
Buyers Guide:
Know what to look for in a spend analytics tool. Access the
Buyer's Guide (.pdf) to facilitate your
evaluation process.
Press releases:
Akron’s
Summa Health to use SpendAdvisor, Premier’s groundbreaking spend
analytics tool
Case study:
Child Healthy Corporation of
America Owner Hospitals realize $4.5M in savings with Premier's SpendAdvisor (.pdf)
Customer testimonial:
SpendAdvisor
SpendAdvisor allows you to analyze your total supply spend and identify savings opportunities. We scrub your data and provide comparative reports that you can use to guide purchasing decisions.
- Identify product, contract, or supplier conversion opportunities, and monitor conversion progress for all your facilities
- Perform departmental, facility, and system level analysis of spending patterns and monitor contract utilization
- Identify opportunities to develop your own locally negotiated agreements
- Ensure that all facilities within your health system are paying a consistent price for the same product
- Optimize existing contracts by identify opportunities to consolidate purchases within a given category
- Track on, off, and non-contract spending patterns
- Compare the prices you are paying to national benchmarks
SpendAdvisor examines three types of spend data: Premier Spend, Pharmacy Spend, and My Spend -- and provides two report levels: dashboard views for high-level analysis and detailed reports for customized, in-depth analysis.
- Premier Spend is based on data submitted by our common suppliers and is available to all hospitals that have been boarded on Supply Chain Advisor. These reports currently support contract level data analysis including aggregations by line of business and supplier.
- Pharmacy Spend is also available to all boarded hospitals and includes NDC level analysis highlighting On, Off, and Non Contract spend, contract conversion opportunities and savings opportunities with functionally equivalent products. Data is received daily from all respective pharmacy wholesalers.
- My Spend is based on purchase order data submitted by participating Premier members. My Spend includes interfaces to identify potential savings based on price parity, pricing benchmarks, product/contract/supplier conversion analysis and consolidation opportunities, and improved procurement practices.
For more information, contact the Solution Center at 877.777.1552 or solutioncenter@premierinc.com.