Management of Purchased Services Contracts is the Largest
Cost Savings Opportunity for Hospitals Today.
Introducing VIE Healthcare
We Deliver Spend Analytics
The VIE Healthcare Advantage -
The Only Comprehensive Cost Savings Solution™
What would a perfect purchased services cost savings be capable of?
- Analyze every line-item detail of your historical spend
- So you could understand every opportunity for cost savings
- So you could know exactly hat you are spending and what you need to contract for.
- Deliver an experienced, thorough analysis of your existing contracts to further identify areas of cost savings.
- It could be able to perform this analysis quickly. So you can start achieving cost savings in days and weeks and not months and years.
Reconciliation of your line item service invoices.
Identification of cost reduction opportunities through price and cost benchmarking.
Extensive contract reviews for a complete understanding of financial and operational costs.
Data driven analytics and spend analysis from your invoice details.
- VIE Healthcare’s patented technology gives you the most complete picture of your purchased services spend so you can optimize cost savings.
VIE Healthcare has developed a patented technology that rapidly analyzes the complete line-item details of every invoice from the past 12 months, giving you unparalleled insight into your exact historical spend.
Our technology allows us to go far beyond simple benchmarking or spot-checking. We can determine where there have been over-charges, exactly what and how much of your spend is out of contract, and detailed areas where the costs can be improved beyond just at a macro-services level.
This complete detailed spend analysis would take weeks or months to do manually, but our software allows us to it in days, at a very high level of accuracy.
- VIE Healthcare has proven, deep, specialized expertise in complexities of purchased service agreements, giving hospitals unrivaled insight into areas of potential cost savings.
Purchased services agreements can be extremely complex. VIE Healthcare has specialized in analyzing spend related to purchased services for over 21 years, and our highly experienced analysts know exactly where to look for cost savings. We can help decipher the details of your current agreements, including minimums, maximums, bulk discounts, inclusions, exclusions, and more, and then map those to the details of your contracts, including amendments. Our expertise uncovers every area for potential savings.
- VIE Healthcare delivers cost savings in weeks, not months or years
Our software helps us analyze your past data very quickly so that we can quickly determine where the potential cost savings are.
In many cases, we identify historical over-charges that we can get refunded from vendors.
Your Hospital and Health Systems are Overpaying, at Minimum, Tens of Thousands of Dollars Due to Invoice Inaccuracy.
Since services are utilized then invoiced—your hospital depends on the purchased services vendor to invoice accurately. Yet, we see that greater than 30% of all purchased services invoices are priced incorrectly from the agreed upon contract terms, are not on contract, or have excessive extra fees added.
This requires someone from your hospital to manually review pages of invoices and hundreds of line items for accuracy and also utilization improvement opportunities. Many of the purchased services invoices do not get thoroughly reviewed with errors and hospitals are overpaying each month.
VIE Healthcare’s Patented Purchased Services Invoice ROI™ Technology is Fully Automated and Reconciles Thousands of Line Item Details Instantly, Saving Hospitals Unnecessary and Significant Costs in Their Purchased Services Spend Caused by:
Excessive Fee Charges
Not only will you find and save money, your manual process will be eliminated so your team can work on strategic initiatives.
With Invoice ROI™:
We can help reduce your purchased service spend:
1. Automate line item reconciliation of your invoice transactional details to your contract using Invoice ROI™.
2. Identify cost reduction opportunities through price and total cost benchmarking.
3. Conduct extensive contract reviews to fully understand financial and operational costs.
4. Provide you with data driven analytics & historical spend analysis from the invoice details.
5. Assess the performance of services provided to ensure value promised and paid for is being delivered.
In the below video, we show you how Invoice ROI™ was able to help one client who was overcharged 29% and was able to save over $10,000 from just one invoice from one vendor in one month.