Tag: Supplier Network

There’s no easy way to say it: healthcare spending is getting out of control.

Between rising labour costs, shrinking reimbursements, and mounting supply chain chaos, hospitals are being squeezed from all sides. While most leadership teams know where the big dollars are going, labour, capital projects, and pharma, there’s one area still treated like a black box: purchased services in healthcare.

But that’s changing.

Strategic procurement is stepping out of the shadows, not just in theory, but in real, measurable results. The idea isn’t just about paying less. It’s about spending smarter. It’s about knowing which vendors are worth your time, which contracts are actually delivering value, and where to find savings hiding in plain sight.

And this is where Valify enters the picture.

Built for healthcare. Powered by data. Backed by HealthTrust. Valify’s approach to cost reduction doesn’t just chase discounts; it builds long-term financial sustainability. At the heart of that strategy? Their Preferred Supplier Network is a curated, performance-driven collection of vendors built to do one thing: help health systems save more without settling for less.

So, let’s break down how Valify’s PSN works and why it’s quietly becoming one of the smartest moves a healthcare system can make.

What Exactly Is Valify’s Preferred Supplier Network?

Valify’s Preferred Supplier Network (PSN) isn’t just a list of vendors; it’s a data-backed, performance-vetted ecosystem. Think of it as the healthcare version of a private club, but instead of velvet ropes and champagne, it’s filled with top-tier suppliers who’ve proven they can deliver cost savings, quality, and compliance over and over again.

The PSN is tightly integrated into Valify Solutions Group’s broader cost-reduction strategy. It’s not just a standalone marketplace; it’s woven into the analytics, the spend visibility tools, the benchmarking… all of it.

Why is that important? Because the suppliers in this network aren’t chosen at random. They’re selected based on:

• Consistent pricing advantages
• Reliable contract performance
• High compliance ratings
• Alignment with health system goals

Oh, and did we mention exclusivity?

Valify’s PSN is only accessible through HealthTrust membership, meaning the vendors in this network have already passed the highest levels of vetting and scrutiny. It’s not open to just anyone. And that exclusivity is what makes it so powerful.

Why the PSN Matters: Real-World Benefits for Health Systems

Let’s not get lost in acronyms and procurement speak. What does the PSN actually do for hospitals?

1. Unlocking Cost Efficiency

The most obvious but still most important benefit. Through aggregated spend, Valify negotiates more favourable terms for hospital purchased services than any individual hospital likely could on its own. It’s group buying with data muscle behind it.

2. Simplifying the Vendor Mess

You know those spreadsheets with 45 different vendors doing vaguely the same thing? PSN helps consolidate those relationships. Fewer contracts. Less administrative noise. A cleaner, tighter vendor ecosystem.

3. Smoother Operations

Centralizing procurement through a preferred network doesn’t just help finance; it helps operations. You get faster onboarding, fewer compliance issues, and smoother supply chain processes.

4. Data-Informed Procurement

Here’s where things get really smart. Because Valify’s PSN is built into their analytics platform, vendors can be matched to actual spend patterns. No more guessing. You can look at the data and say, “We’re spending $400K here with no contract. Why aren’t we using a PSN vendor?”

5. Reducing Risk with Vetted Quality

Every supplier in the PSN has been thoroughly reviewed, not just for pricing, but for reliability, safety, and consistency. This drastically lowers your exposure to supply chain failure.

And here’s the best part: these outcomes aren’t just theory. They’re measured and tracked constantly through Valify’s tech stack.

How PSN and Spend Analytics Work Together

Here’s where things really start to click.

Valify isn’t just handing you a supplier list. Their spend analytics technology is designed to analyze your current spend, compare it to industry benchmarks, and then point you toward better options within the PSN.

Let’s walk through the key integration points.

1. Spend Visibility + Categorisation

Everything starts here. Valify pulls in your spend data and organises it into meaningful categories. You’ll finally see where your money is going down to individual line items.

2. Vendor Benchmarking

Now that you can see your vendors clearly, Valify compares their pricing and performance to those in the PSN. You might discover that your current provider is charging 22% more than the preferred supplier for the exact same service.

3. Conversion Opportunities

Once those gaps are identified, Valify doesn’t just leave you hanging. Their platform suggests PSN-aligned vendors who can replace your current providers, often with better pricing and terms.

4. Performance Tracking

After conversion, Valify continues tracking savings and compliance metrics. You’re never flying blind, and you can prove the ROI of your procurement decisions over time.

This kind of end-to-end integration is rare. Most systems offer analytics or vendor directories, not both. Valify ties it all together.

Long-Term Value Isn’t an Accident – It’s Built In

Cost-cutting is easy. Cost-optimization through proven healthcare cost reduction strategies ? That’s where it gets serious.

Valify’s PSN doesn’t just create savings today, it keeps delivering over time. Here’s how.

Continuous Monitoring

Your spend is constantly re-analysed. As contracts evolve, the system catches inefficiencies early before they balloon into losses.

Supplier Accountability

PSN vendors are held to strict performance standards. If they don’t deliver? They don’t stay in the network. That accountability loop matters.

Scalability Across Systems

Whether you’re a 50-bed rural hospital or a multi-site health system, the PSN model scales. You’re not locked into a one-size-fits-all approach.

What Sets Valify Apart

This isn’t just about having a vendor directory. It’s about the approach.

Technology-Driven

Valify’s automation handles what used to take weeks for teams of people to do. That means faster decisions, fewer errors, and real-time visibility.

HealthTrust-Backed

This isn’t just Valify going it alone. HealthTrust adds another layer of supplier quality control, market leverage, and compliance governance.

Bigger Than Discounts

What really sets Valify apart? It’s not just about saving money, it’s about building sustainable procurement practices. One that aligns with your system’s clinical goals and financial targets.

Getting Started: What It Looks Like

Thinking of tapping into Valify’s Preferred Supplier Network? Here’s how the process typically works:

Data Collection

Pull your existing vendor data. Valify can help extract it from ERP systems, spreadsheets, or even paper invoices.

Spend Categorization

Let the platform analyse and sort your spend, exposing patterns, redundancies, and gaps.

PSN Vendor Matching

Get matched to vetted suppliers who align with your spend profile, complete with pricing benchmarks.

Execution + Savings Measurement

Contract transitions happen with guidance, and results are tracked in real time so you can show the impact.

Conclusion

Healthcare finance is no longer just about managing the books. It’s about strategic thinking, and nowhere is that more evident than in the way hospitals choose their vendors.

With Valify’s Preferred Supplier Network, health systems aren’t just buying smarter, they’re building resilient, data-informed procurement strategies that stand the test of time.

It’s one thing to know you’re overspending. It’s another step to finally do something about it, backed by a platform that’s designed for healthcare, supported by HealthTrust, and engineered for measurable results.

So if you’re ready to take control of your vendor ecosystem and unlock smarter savings, Valify is ready to help you get there.

Shara Smith

Shara Smith serves as the Marketing Director for both Valify and Valify Solutions Group, where she oversees all facets of marketing, including strategic planning, branding, digital marketing, and event management. She joined Valify in September 2021, bringing with her a wealth of experience in healthcare marketing and business development.