Healthcare Industry News: Information Management
News Release - September 18, 2006
UMass Memorial Health Care Selects Broadlane for Supply Chain Services
DALLAS--(HSMN NewsFeed)--Sept. 18, 2006--Broadlane announced today that UMass Memorial Health Care, the largest healthcare system in central and western Massachusetts, has selected Broadlane to provide an array of supply chain services under an exclusive five-year agreement. Financial terms were not announced.UMass Memorial has five acute care hospitals and other facilities, including its prestigious academic medical center, UMass Memorial Medical Center in Worcester, and has an annual supply spend of approximately $225 million. The agreement becomes effective on Oct. 1.
Under the agreement, Broadlane will provide UMass Memorial with national and local strategic supply chain services for consumable supplies and equipment, pharmaceuticals and purchased services. UMass Memorial will gain access to Broadlane's existing industry-leading portfolio of contracts and, in addition, Broadlane will assist UMass Memorial in developing custom contracts and manage various high physician preference item standardization and utilization efforts.
Additionally, UMass Memorial will fully integrate into Broadlane's technology and e-commerce exchange, BroadLink(TM). Broadlane will deploy a number of full-time supply chain experts who will be dedicated to helping UMass Memorial take full advantage of Broadlane's contracts and other services.
UMass Memorial selected Broadlane for this new agreement after conducting an extensive year-long due diligence process that looked at a variety of alternatives.
"We are very impressed with the depth of Broadlane's supply chain capabilities and are confident that it is the right partner to complement our existing supply chain infrastructure and move us toward the very best demonstrated practices in our industry," said Walter Ettinger, M.D., president of UMass Memorial Medical Center. "We believe that by working with Broadlane we will be able to achieve the aggressive supply chain goals that we have set for ourselves. Beyond the impressive savings it delivers for its clients, Broadlane has a great reputation for helping integrated delivery networks maximize the benefits of acting as a system. Broadlane's deep competencies, proven strategies and technology will allow us to better understand our supply chain behavior and proactively pursue cost reduction opportunities."
Said Charles E. Saunders, M.D., Broadlane's chairman and chief executive officer: "UMass Memorial is a highly regarded health system and we are very pleased that Broadlane was chosen to work with UMass Memorial in such a key area of its operation. The signing of UMass Memorial is another indication that Broadlane has emerged as the logical alternative for large health systems looking to take their supply chain performance to the next level. I am confident that UMass Memorial will experience the same impressive results as we have delivered for our other clients. I am looking forward to watching our relationship mature and exceeding the high expectations that we have mutually set."
UMass Memorial joins Ascension Health and New Hanover Medical Center among others that have signed with Broadlane in 2006. Broadlane continues to be the fastest-growing group purchasing organization in the United States. Other Broadlane clients include Advocate Health, CHRISTUS Health, Continuum Health Partners, the Health Alliance of Greater Cincinnati, Kaiser Permanente, Sisters of Charity of Leavenworth Health System, Tenet Healthcare and William Beaumont Hospital.
About UMass Memorial Health Care
UMass Memorial Health Care is Central Massachusetts' largest not-for-profit health care delivery system, covering the complete health care continuum with UMass Memorial Medical Center, its academic medical center, member and affiliated community hospitals, freestanding primary care practices, ambulatory outpatient clinics, a long-term care facility, home health agencies, hospice programs, a rehabilitation group and mental health services. UMass Memorial is the clinical partner of the University of Massachusetts Medical School. Visit www.umassmemorial.org for additional information.
About Broadlane
Through a comprehensive set of services focused on contracting, purchasing, clinical and pharmacy cost management, labor, capital equipment and Information Management, Broadlane helps providers go further to reduce costs and improve financial performance.
Broadlane is known for superior and verifiable cost savings, deep clinical and operational expertise, and technology that enables more effective spend management. Together, these capabilities help providers rapidly achieve industry-best procurement practices.
Broadlane serves thousands of acute care hospitals, sub-acute care facilities and physician practices across the country. The company, which is headquartered in Dallas, also has offices in California, New York and Ohio. For more information, visit www.broadlane.com.
Source: Broadlane
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