Taking your spend analysis and cost-savings to a new level
At Owens & Minor, our powerfully effective spend analysis is powered by the leading technology tool in the industry—WISDOM Gold. Designed specifically for healthcare facilities, WISDOM Gold provides our hospital customers with in-depth analysis and a typical savings of 1 percent to 4 percent on medical and surgical expenses.
Consistent with our other services, our approach to savings via spend analytics is a comprehensive one. We begin with Data Normalization to ensure the consistency of all purchase information from various systems and locations, enabling thorough, accurate analysis. We then perform a detailed analysis of seven, well-defined savings categories for all purchases made—not simply core contract purchases. This exhaustive approach enables us to identify opportunities for pricing efficiency, consolidation and standardization that others can overlook.
The driving force behind our success with Spend Analytics and Contract Management is Owens & Minor’s Analyst Resource Center (ARC). The ARC is a professional team of the industry’s leading supply chain analysts who monitor and manage your savings initiatives. This analysis extends far beyond advice on how to retrieve data. Our dedicated analysts will mine and filter the data for you and identify savings opportunities, so you can spend your time implementing and realizing savings.
In addition, our Contract Management service provides a convenient, easy-to-access digital contract repository, enabling a foundation for price auditing. We rapidly digitize supply chain contracts, interfacing and synchronizing seamlessly with the pricing data in your materials management information system (MMIS). Unlike other spend management tools, ours provides visibility into your local, IDN and GPO contracts.
At Owens & Minor, our comprehensive approach to analytics enables a repeatable process for delivering savings to a wide range of customers—from single location health systems to multi-location IDNs.
