Valify Presents 2019 Client Awards

Valify recognized five health systems for our inaugural awards program during the 2019 IDN Spring Summit & Reverse Expo in Orlando, Florida. We established our awards program to acknowledge the exceptional work and progress our clients have achieved to better the purchased services cost reduction process in their health system by reducing costs, improving outcomes, or both.

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Valify Co-Presenting at Health Connect Partners’ Hospital Supply Chain 2019 Spring Conference

 

In addition to sponsoring the 2019 Spring Health Connect Partners Hospital Supply Chain Conference, Valify was chosen to co-present an educational session along with HealthTrust inSight Advisory and Ardent Health System. Raelyn Wilson, Valify’s Director of Client Success, along with Tom Birmingham, Ardent Health Services Director of Purchased Services and Capital Equipment, and Andy Motz, SVP HealthTrust inSight Advisory, will present at HCP on Tuesday, April 30 at 11:00 am. Continue reading

Valify Launches the Valify Marketplace

FRISCO, TX, April 2, 2019 (BUSINESS WIRE) —

Today Valify, the leading healthcare cost management company, announces the launch of the new Valify Marketplace, a comprehensive vendor catalog of products and services that allows healthcare organizations to search, compare, and select the best vendors for their needs. Today’s launch comes as a result of Valify’s September 2018 acquisition of Lucro, a Nashville-based digitalplatform for health systems to evaluate vendors. The Valify Marketplace has already been named to CIO Review’s list of the “50 most promising healthcare solutions of 2019.” Continue reading

Valify Marketplace Recognized by CIO Review as one of the 50 Most Promising Healthcare Solution Providers – 2019″”

 
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Valify Marketplace: A One-stop Shop for Purchased Services

 
Today, it is increasingly difficult for hospitals and health systems to find, compare, and select the best vendor for a fair price. Because an average health system purchase cycle takes about 9-12 months, hospitals need years to realize the benefits from switching service providers, a timeframe no longer unacceptable for healthcare
institutions tasked to find cost savings. Additionally, there is an ever-present question that healthcare organizations can’t seem to find an answer to—how to balance the quality of services and solutions provided by vendors with the rates that they charge. Continue reading

Valify Recognized by CIO Review as one of the 50 Most Promising Healthcare Solution Providers – 2019″”

 
 
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Valify: Bringing a Unique Value Proposition to Healthcare Purchased Services

Despite best efforts towards reducing the overall cost of operations, healthcare companies often miss out on regulating one of their most expensive cost-drivers. Generally sidelined and overlooked, purchased services contribute to about 45 percent of a hospital’s non-labor budget. It is the vastness and uncertainty of outsourced services that bring complexities, making it difficult for hospitals to identify an appropriate service contract benchmark and derive savings. When hospitals outsource services, they can unwittingly fall prey to unnecessary costs which include duplicated services, hidden contract fees, and automatic price escalations. 

Valify, a company specializing in purchased services analytics uses a web-based solution that identifies, benchmarks, and monitors savings on purchased services categories. “We are the only company 100 percent dedicated to purchased services,” says Chris Heckler, CEO and founder of Valify. 

In order to mitigate the uncertainty in the broad description of indirect spend, Valify has classified the domain that has approximately 1,200 specialties into seven primary categories, namely, financial and administration, facility support, HR, insurance, clinical, ancillary, and IT-telecom. By working with the customer’s finance or IT division, Valify accesses the data and links the information to its solutions. The company then processes the data through proprietary algorithms and classifies them in less than 10 days. The firm also provides dedicated analyst support for the client to maximize the use of this information for savings opportunities. 
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