FOR IMMEDIATE RELEASE
Star Valley Medical Center Selects Broadlane as Strategic Partner
Dallas - May 26, 2010 - Broadlane, the leading end-to-end cost-management partner for healthcare providers, announced today that Star Valley Medical Center (SVMC), a 20-bed acute care hospital, in Afton, Wyo., has selected Broadlane as its provider of strategic sourcing solutions. The three-year exclusive agreement will help SVMC manage its approximately $5 million in annual supply spend.
Broadlane allows hospitals like Star Valley to take advantage of pricing normally reserved for only the largest integrated delivery networks.
"It has never been more critical for hospitals to manage costs," said Ken Brough, chief financial officer at SVMC. "We sought a solution that would help us identify and trim excess supply chain expenses. We also wanted to improve operational efficiencies that would directly benefit patient care. Broadlane offers a tailored approach to aligning clinical needs with the supply chain. With their proven results, we expect significant savings."
SVMC will utilize a full array of Broadlane's Strategic Sourcing Solutions, including:
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National GPO Portfolio focuses on providing maxiMedication Use Management value to clients across all significant categories of supplies. Broadlane's clinically aligned sourcing strategies consistently yield superior pricing. Additionally, Broadlane's focus on securing unmatched contract terms and conditions will provide better financial protection for SVMC, enhancing its ability to invest in patients' quality of care.
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Purchased Services Portfolio provides contract coverage for outsourced facility operations such as food, housekeeping, environmental services and laundry. SVMC can leverage Broadlane's expertise and resources to negotiate solid contract terms and conditions with operational flexibility at the local level to address facility-specific needs.
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OnRamp®, Broadlane's proprietary Web portal, will give SVMC access to Broadlane's extensive portfolio of contracts. OnRamp gives healthcare providers visibility into more than 600,000 items on contract and stores information on more than 2 million products.
"We are pleased to welcome SVMC as a new Broadlane client," said Tom Sherry, president and chief operating officer at Broadlane. "As the healthcare climate evolves, providers such as SVMC continue to search for innovative cost-management solutions, and our strategic sourcing solutions help make quality healthcare more affordable by delivering cost-savings and operational improvements."
About Star Valley Medical Center
Star Valley Medical Center is a member of The Hospital Cooperative, Inc., which works to strengthen regional health care by providing support and increasing value to members through shared resources, knowledge and information. For more information, please visit svmcwy.org.
About Broadlane
Broadlane is dedicated to making quality healthcare affordable. Through proprietary technology, industry-leading sourcing, and innovative services, Broadlane's staff of experts offers solutions to healthcare providers that dramatically improve operating margins. Broadlane's offerings include end-to-end supply chain management, clinical and financial analytics, purchasing portfolio management, workforce management, and a complete suite of consulting services that address Lean process transformation, supply chain best practices, capital equipment lifecycle, and clinical utilization. Broadlane serves more than 1,100 acute care hospitals and 50,000 non-acute care facilities.
The company is headquartered in Dallas with offices in Cincinnati, Detroit, Houston, Nashville, New York City and Oakland. For more information, visit broadlane.com.
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