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Add millions of dollars to your bottom line.

Health systems have saved on average 20-30% per category with Valify.

Purchased Services makes up at least 45% of your non-labor budget. Those dollars are often spent on unnecessary costs, such as duplicated services and vendorsand hidden contract fees and penalties. Don’t leave your bottom line in the hands of temporary solutions like consultants, GPOs or vendors who only have access to limited data.

Valify empowers health systems of every size

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    Stand-Alone Hospital

    • Gain complete visibility into AP activity and trends.
    • Accurately account for every dollar in purchased services spend.
    • Benchmark spend against every facility within your system and peer hospitals to understand category utilization.
    • Access to Valify Advisory Service to realize savings and optimize bandwidth.
    • Create savings initiatives and track performance toward your goal.
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    Small to Medium Healthcare Systems (IDNs)

    • Gain complete visibility into aggregated activity and trends for the entire healthcare organization.
    • View spend data at the system level and at the facility level
    • Accurately account for every dollar in purchased services spend.
    • Benchmark spend against every facility within your system and peer hospitals to understand category utilization.
    • Create savings initiatives and track your performance toward your goal.
    • Access to Valify Advisory Services to realize savings and optimize bandwidth.
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    Large Healthcare System (IDNs)

    • Gain complete visibility into activity and trends for the entire healthcare organization.
    • Accurately account for every dollar in purchased services spend.
    • Identify vendor consolidation opportunities.
    • Easily integrate spend for newly acquired health systems.
    • Benchmark spend against every facility within your system and peer hospitals to understand categoryutilization.
    • Create savings initiatives and track your performance toward your goal.
    • Access to Valify Advisory Services to realize savings.
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    Regional GPOs and Purchasing Alliances

    • Categorize all spend within your membership.
    • Benchmark spend against vendor contracts to understand category utilization.
    • Audit accuracy of admin fees.

End-to-End Solution for Your
Purchased Services Spend

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Insight

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Empowerment

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Savings

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Valify categorizes your purchased services vendors across your entire healthcare network to give you enterprise-wide visibility and immediate insights.

  • Eliminate duplicate services by consolidating and standardizing vendors across your health system.
  • Compare spending across your entire healthcare network with patent-pending algorithmic methodology
  • Categorize at least 95% of non-labor spend in days.
  • One-click access to spend data for all of your vendors and categories
  • Access internal and external KPIs from Valify’s customer supplied database
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Valify empowers you with purchased services insight and functionality to immediately begin developing a proactive work plan that will maximize your teams efficiency and effectiveness to reduce overall spend.

  • Benchmark 1200+ purchased services categories to increase savings.
  • Valify provides a market share breakdown of top vendors used in the database.
  • Access to category specific RFP templates.
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Valify provides tracking capabilities to monitor and alert your team if a vendor is not performing as expected.

  • Confirm you’re on track to reach your savings goal from a user-friendly dashboard that tracks monthly progress.
  • Get immediate notifications if you initiative is not reaching expectations so you can react to spend in real time.
  • Valify’s Advisory services will realize savings with a team of consultants and SMEs, providing flexible options for hospitals based on needs

Proven Healthcare Solutions

Categorization
Valify has over 1,200 unique purchased services categories across seven service lines. Our proprietary algorithms auto-categorizes your AP data with 99% accuracy to identify areas of duplication and identify savings opportunities.

Assessment
Valify’s Purchased Services Assessment, created by idustry experts, is a personalized online dashboard where your organization’s top metrics and opportunities are displayed. Gain complete visibility of your spend and savings insight at a glance, track annual goals, and customize individual savings projects.

Benchmarking
Gain access to 1200+ purchased services benchmarks. Compare your accounts payable spend to 500+ hospitals across the country with Valify’s established, large-scale database consisting of 550,000+ vendors and $132+ billion in purchased services spend. You can benchmark your spend against hospitals similar in size and geography, to gain a more actionable price point.

Market Share
We evaluate vendor market share against Valify’s exclusive healthcare database so you can make more informed decisions when negotiating purchased services contracts. To effectively leverage your savings opportunities, you have to understand each vendor’s market share and what peer institutions are spending with them. Search top vendors utilized nationally, regionally, or locally to include in your RFP.

Project Tracking
Use Valify’s Project Tracker to monitor, track, and report on purchased services projects. Since purchased services is utilization based, often times there are monthly spikes in utilization or price. The Valify Project Tracker sends the project owner an email notification anytime the utilization or price has gone above the baseline negotiated in the agreement.

RFP Builder
Valify’s RFP Builder provides you an arsenal of purchased services specific templates to help expidite the RFP process. Draft and store your own customized templates, view bids side-by-side to easily analyze and compare vendor proposals. Use the RFP vendor portal to manage vendor communications and milestones during negotiations.

Advisory Services

Our team is experienced in every aspect of purchased services and offers solutions to support your team’s needs. Whether it’s technical support, bandwidth or project management, we’re flexible enough to assist with any size project that will empower you to reach the savings goals you desire.

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Over the last two years, Valify has helped us to find upwards of $11M in true, bottom-line savings.

Mark French, VP, Vendor Management, Ochsner Health System

Three easy steps that will save you millions.

Let’s get started

  • Upload your accounts payable and purchase order data for all non-labor spend.
  • Let our proven technology categorize your data within
    5 days.
  • Our team of experienced analysts will compile your savings insights into a Purchased Services Assessment after they evaluate the data to ensure its accuracy.
Download sample report

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© 2019 Valify, Inc. (formerly Lucro Solutions, Inc.)