Conductiv Contracts™ simplifies GPO contracting, bolsters spend analytics and unites members with qualified, vetted suppliers to accelerate time to savings
February 8, 2022 – Walnut Creek, CA – Conductiv®, the leading third-party spend optimization provider and a consolidated subsidiary of Premier, Inc. (NASDAQ: PINC), today announced a new technology-enabled contracting solution for members of its group purchasing organization (GPO). Through an automated platform and data that identifies contracting opportunities with vetted suppliers, the Conductiv Contracts™ platform provides its GPO members with complimentary access to accelerate cost savings decisions and increase revenue streams with ease.
The new platform is available at no cost to Conductiv Contracts members and leverages the company's purchasing trends and member spend to analyze and recommend contracting opportunities. The Conductiv Contracts platform delivers a user interface for purchasing professionals that both simplifies and elevates the GPO experience. Rooted in industry best practices, its newest features create significant benefits for members:
- Streamlined price activation enables members to select from Conductiv’s catalog of existing contracts or easily kick-start bespoke sourcing activities, facilitating reduced negotiation cycles, and increasing time to cost savings and activating revenue streams.
- AI-powered recommendations based on Conductiv’s 20+ years of experience and $566 Billion of analyzed spend helps members identify opportunities for shifting spend onto a GPO contract.
- Expanded network reach unites buyer members with pre-vetted, in-network suppliers and affords members the flexibility to bring their choice suppliers on-contract with bespoke sourcing.
- Diversity indicators and measurements reveals opportunities to source and engage diverse suppliers, giving members more control over their diversity, equity, and inclusion strategies and goals for third-party services.
“Since our inception, Conductiv has led the digital transformation for purchased services sourcing,” said Conductiv CEO Chris Gormley. “We have a passionate team that’s eager to improve the sourcing lifecycle for healthcare and other verticals that have complex supply chains, a variety of stakeholders, and unique sourcing needs. Conductiv Contracts is a long-awaited automated solution that seamlessly integrates with the Conductiv Platform in an intuitive, scalable way, and enables members to access savings almost instantly with overarching strategies, like diversity, equity and inclusion being top of mind.”
Organizations can increase their purchasing power with Conductiv Contracts, which offers specialized expertise in negotiating third-party service agreements, through its catalog of ready-made contracts and locally-initiated agreements and compliments any existing GPO relationships that a company may already have in place. Membership is free and includes access to the new platform.
For more information or to join Conductiv Contracts please visit conductiv.com/products/conductiv-contracts.
About Conductiv
Conductiv®
empowers supply chains to optimize their third-party services. As the only end-to-end third-party lifecycle improvement company, Conductiv shares its strategic sourcing expertise and category best practices with multiple industries including healthcare, hospitality, government, real estate, transportation, and education. The company has led more than 700 bids for more than 120 organizations, exceeding $4 billion in contracted value. Member projects have generated $800 million of documented savings or an average savings value of 24% to date. To learn how supply chains are transforming their savings strategy, visit Conductiv.com.
About Premier
Premier Inc. (NASDAQ: PINC) is a leading healthcare improvement company, uniting an alliance of more than 4,400 U.S. hospitals and health systems and approximately 225,000 other providers and organizations to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and consulting and other services, Premier enables better care and outcomes at a lower cost. Premier plays a critical role in the rapidly evolving healthcare industry, collaborating with members to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide. Headquartered in Charlotte, N.C., Premier is passionate about transforming American healthcare. Please visit Premier’s news and investor sites on www.premierinc.com; as well as Twitter, Facebook, LinkedIn, YouTube, Instagram and Premier’s blog for more information about the company.
