AI and predictive analytics offerings accelerated the company’s momentum, securing new customers and adding contract growth to existing customers.
GUILFORD, Conn. and WALNUT CREEK, Calif., Dec. 18, 2019 /PRNewswire-PRWeb/ — Medpricer, one of the nation’s leading technology-based solutions to optimize healthcare provider savings across purchased services contracts, today announced that it has expanded its GPO-agnostic platform to new and existing customers. The company, owned by Premier Inc. (NASDAQ: PINC), continues to exceed its growth goals, having signed multiple new agreements this year and increasing its total contract value.
New payer acquisition
Most recently, the team welcomed a West coast not-for-profit regional medical center, a Southern teaching system and cancer treatment center, an East Coast university healthcare network and a Midwest health system to its customer roster.
“While the industry continues to shift its focus to GPO-agnostic technology solutions, our user base has steadily grown,” said Medpricer’s Chief Customer Officer Mickey Meehan. “We work with the nation’s leading healthcare organizations to understand the industry’s constraints and produce exciting new solutions that give sourcing professionals more control over their data, productivity and contract outcomes.”
Expanding contract value
Multiple customers, regardless of GPO affiliation, have renewed or expanded their partnerships with Medpricer to include subscriptions to the industry’s leading purchased services analytics and sourcing software to supplement its sourcing teams’ needs. With Medpricer’s sourcing services, its team of experts work together with sourcing teams to analyze purchased services sourcing data and determine optimal savings strategies by category.
Amplified customer success
Medpricer’s customized, data-driven approach provides its customers with a competitive edge to make sound business decisions quickly. New and existing customers recognize that the company’s data, sourcing speed, and industry-rich analytics sets Medpricer solutions apart from the rest of the industry. In the last six months, an Arizona-based health system identified $2.6 million savings using Medpricer’s cognitive analytics software. Another southwest regional medical center facing a 30 percent cost increase negotiated 10 percent savings on linen services with Medpricer’s Precision Benchmark Report. Additionally, a Michigan-based health system initiated six RFPs within 20 days of onboarding.
Accelerated development plan
Medpricer continues to be well positioned to drive further growth following its acquisition. In October, Premier, Inc. acquired the organization, through a strategic deal that fuels Medpricer’s commercial reach and product development capabilities.
“We hear it again and again from our customers; Medpricer’s market intelligence coupled with speed to savings is a gamechanger. Their faith in us is why Q3 of the 2019 calendar year was a milestone for our company and technology. As our product development and innovation steadily continues, we’re on track to exceed our goals for both this quarter and the remainder of the year,” said Medpricer CEO Chris Gormley. “We’ve listened to our customers’ needs and have been able to tailor our solutions to those, ensuring we offer the most robust services.”