Purchased Services Benchmarking Is an Invoice Line Item Effort
Purchased Services Benchmarking Concern
In this audio, Lisa Miller discusses how purchased services benchmarking is a detailed process.
A method being utilized by benchmarking companies called Ratio Benchmarking is increasingly concerning. The ratio comparisons are being used more frequently. It is not only ineffective in fact, it’s even misleading.
Purchased Services analysis and benchmarking is an invoice line item analysis effort. Any other method will give you underperforming to poor results.
Learn about this important point in your benchmarking efforts in this audio.
VIE Healthcare has the only purchased services technology that extracts and analyzes your purchased services invoice line item details.
Hospitals utilize our Invoice ROI Technology for:
- Contract Compliance Reviews
- Contract Renegotiations for Cost Savings
- Line Item Benchmarking
Reach out to Lisa Miller at [email protected] to schedule a call and a no charge proof of concept to show you the results we are achieving for hospitals providing them with their purchased services invoice line item details.
“We have been overly impressed with VIE Healthcare’s approach to our purchased service agreements. We begin with a retroactive audit of our existing agreements and reconciliation of any discrepancies and overpayments through VIE Healthcare’s Invoice ROI™ Technology.
From there VIE Healthcare’s Invoice ROI™ Technology continues to review invoices regularly to help avoid any future discrepancies.
VIE Healthcare® has able to identify hundreds of thousands of dollars in discrepancies. Because they analyze invoices at the line item level, VIE Healthcare® have the ability to quickly take utilization and usage trends to produce RFPs allowing us to re-negotiate new agreements resulting in further cost reductions.
This includes consolidating contracts and service providers across multiple hospitals in different regions.” – Luis R. Martinez, VP Supply Chain, Cornerstone Healthcare Group