{"id":44674,"date":"2022-06-03T17:02:02","date_gmt":"2022-06-03T15:02:02","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/partssource-unveils-new-visual-formulary-controls-and-supply-chain-risk-monitor-to-help-clients-improve-equipment-uptime-and-supply-chain-resiliency\/"},"modified":"2022-06-03T17:02:02","modified_gmt":"2022-06-03T15:02:02","slug":"partssource-unveils-new-visual-formulary-controls-and-supply-chain-risk-monitor-to-help-clients-improve-equipment-uptime-and-supply-chain-resiliency","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/partssource-unveils-new-visual-formulary-controls-and-supply-chain-risk-monitor-to-help-clients-improve-equipment-uptime-and-supply-chain-resiliency\/","title":{"rendered":"PartsSource Unveils New Visual Formulary Controls and Supply Chain Risk Monitor to Help Clients Improve Equipment Uptime and Supply Chain Resiliency"},"content":{"rendered":"<div>\n<p class=\"bwalignc\">\n<i>Breakthrough Technologies Institutionalize Evidence-Based Decisions for HTM and Supply Chain Leaders<\/i>\n<\/p>\n<p>CLEVELAND&#8211;(BUSINESS WIRE)&#8211;PartsSource, the leading online marketplace for medical equipment maintenance parts and services, unveils significant expansions to <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.partssource.com%2Fprovider%2Fabout-ps-pro&amp;esheet=52738892&amp;newsitemid=20220603005290&amp;lan=en-US&amp;anchor=PartsSource+Pro&amp;index=1&amp;md5=a7a50e26d42233ce55424beb5ad58d8d\" rel=\"nofollow noopener\" shape=\"rect\">PartsSource Pro<\/a><sup>\u00ae<\/sup>, the company\u2019s flagship solution and industry\u2019s first and only clinical resource management platform. Visual Formulary Controls and the Supply Chain Risk Monitor will be leveraged by the 1,500 member hospitals within the PartsSource Pro community. These new capabilities, powered by PartsSource PRECISION Procurement<sup>\u00ae<\/sup>, will be demonstrated by PartsSource subject matter experts at booth #227<b> <\/b>at the Association for the Advancement of Medical Instrumentation<sup>\u00ae<\/sup> (AAMI) Exchange in San Antonio, Texas.\n<\/p>\n<p><a href=\"https:\/\/mms.businesswire.com\/media\/20220603005290\/en\/1475858\/5\/Formulary.jpg\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20220603005290\/en\/1475858\/21\/Formulary.jpg\"><\/a><br \/><a href=\"https:\/\/mms.businesswire.com\/media\/20220603005290\/en\/1475860\/5\/Supply_Chain_Risk_Monitor.jpg\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20220603005290\/en\/1475860\/21\/Supply_Chain_Risk_Monitor.jpg\"><\/a><\/p>\n<p>\n<b>Control Variance System-Wide with Data-Driven Visual Formularies<\/b>\n<\/p>\n<p>\nMost hospitals source, order, manage and reconcile 200 to 700 different replacement parts and are spending 10% to 30% more on medical devices and replacement parts than necessary due to cost variance.<sup>1<\/sup> Supply chain and HTM leaders need greater visibility to make informed, data-driven decisions and the ability to forecast savings in one platform.\n<\/p>\n<p>\nPartsSource Pro\u2019s new <b>Visual Formulary Controls<\/b> provides the evidence-based data and recommendations for healthcare organizations to implement digital purchasing policies to streamline the procurement process and improve supply chain reliability, while reducing cost variance and enabling clients to:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\n<b>Make informed decisions:<\/b> Evaluate supply options and understand tradeoffs across quality, deliverability and cost.\n<\/li>\n<li>\n<b>Improve efficiency:<\/b> View purchase recommendations informed by over three billion data points and standardize procurement preferences at the system, facility, supplier and modality levels.\n<\/li>\n<li>\n<b>Simplify program management:<\/b> View Formulary program savings-to-date and utilize recommendations to further increase savings. Formulary controls have proven to yield upwards of 40% annual cost savings and higher on select modalities, depending on the health system size and scope of implementation.\n<\/li>\n<\/ul>\n<p>\n<b>Improve Supply Chain Visibility and Resiliency with the Supply Chain Risk Monitor<\/b>\n<\/p>\n<p>\nAs healthcare technology leaders face global supply chain disruptions, PartsSource provides technology-enabled insights to secure mission-critical supplies and ensure clinical availability and patient safety.\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\n<b>Gain macro and micro visibility into risk: <\/b>View relative supplier performance trends, benchmarks from peer hospitals across the country and evidence-based data necessary to mitigate impact.\n<\/li>\n<li>\n<b>Reduce impact of disruptions: <\/b>Utilize secondary buying options, stocking strategies and formulary rules to mitigate risks and manage trade-offs.\n<\/li>\n<li>\n<b>Identify proactive strategies: <\/b>Use the data in planning conversations with account management to explore opportunities such as expanded Guaranteed Stock and strategic Preventative Maintenance adjustments.\n<\/li>\n<\/ul>\n<p>\n\u201cWith the ongoing supply chain disruptions that our hospital and the broader industry are facing, the solutions and support provided through our PartsSource Pro membership have helped mitigate the impact. The expanded data views coming through Visual Formulary Controls and Visual Analytics will enable me to see supply chain risks and equip me with the data required to evaluate tradeoffs between high quality alternative buying options,\u201d said Jamie Elderkin, Director of Biomedical Engineering, Bassett Healthcare Network.\n<\/p>\n<p>\n<b>ADDITIONAL EXPANSIONS TO THE PARTSSOURCE PRO PLATFORM<\/b>\n<\/p>\n<p>\n<b>Promote Efficiency with New Operations Dashboard Manager Views<\/b>\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nThe <b>Operations Dashboard<\/b> leverages data to help clinical engineering managers drive better daily management and prioritization of activities to improve equipment uptime and operational efficiency.\n<\/li>\n<li>\nManagers can now easily view order updates, backorder status, shipping information and critical hard-down data in one place. In addition to reducing the time spent viewing multiple data sources, the dashboard provides exchange reminders to reduce costs and avoid penalties.\n<\/li>\n<\/ul>\n<p>\n<b>Improve Decision Quality and Reduce Costs with Visual Analytics<\/b>\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\n<b>Visual Analytics<\/b> automates the identification of cost-savings opportunities<b> <\/b>and helps leaders evaluate performance<b> <\/b>with visibility to spend data, hard cost savings to-date, performance versus program goals and opportunities to save on shipping charges through order consolidation.\n<\/li>\n<li>\nThe expanded dashboards also simplify active quality management with visibility to quality return rate by supplier and modality, on-time delivery rate by vendor and frequency of delayed shipments by source.\n<\/li>\n<\/ul>\n<p>\n\u201cWe know technology has the power to institutionalize data-driven decision making. As PartsSource Pro drives the digital transformation of the medical device supply chain, we will continue to provide our clients with increased visibility to the evidence-based data required to improve asset uptime and supply chain resiliency, while empowering measurable operational and financial outcomes for the healthcare industry,\u201d said Philip Settimi, MSE, MD, President and CEO of PartsSource.\n<\/p>\n<p>\n<b>About PartsSource<sup>\u00ae:<\/sup> Ensuring Healthcare is Always On<sup>\u00ae<\/sup><\/b>\n<\/p>\n<p>\nPartsSource\u2019s proprietary procurement platform eliminates friction from the healthcare supply chain by delivering evidence\u2010based decision support for healthcare technology management (HTM). Through integrated workflows and standardized processes, PartsSource empowers HTM teams to make data-driven decisions, manage long\u2010tail spend, increase equipment uptime and track the quality of clinical assets. To learn more about the value of proactively managing the lifecycle of clinical resources, visit PartsSource.com.\n<\/p>\n<p>\nThe PartsSource Logo, Ensuring Healthcare is Always On and Precision Procurement are registered trademarks of PartsSource, Inc.\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<sup>1<\/sup> Behm, Jason, et al. Reducing Cost Variance and Increasing Quality Across Medical Device Maintenance Purchasing. <i>Journal of Clinical Engineering<\/i>. Vol 46(2):94-97, April\/June 2021.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n\u00a0\n<\/p>\n<p> <b>Contacts<\/b> <\/p>\n<p>\nNicole Koharik<br \/>\n<br \/>Senior Director, Corporate Communications<br \/>\n<br \/>PartsSource, Inc.<br \/>\n<br \/><a target=\"_blank\" href=\"mail&#116;&#111;&#58;&#110;&#107;&#x6f;&#x68;&#x61;&#x72;&#x69;&#x6b;&#x40;part&#115;&#115;&#111;&#117;&#114;&#x63;&#x65;&#x2e;&#x63;&#x6f;&#x6d;\" rel=\"nofollow noopener\" shape=\"rect\">nkohar&#105;&#107;&#64;&#112;&#97;&#114;&#116;&#x73;&#x73;&#x6f;&#x75;&#x72;&#x63;&#x65;&#x2e;&#x63;&#x6f;&#x6d;<\/a><br \/>330-954-1492\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Breakthrough Technologies Institutionalize Evidence-Based Decisions for HTM and Supply Chain Leaders CLEVELAND&#8211;(BUSINESS WIRE)&#8211;PartsSource, the leading online marketplace for medical equipment maintenance parts and services, unveils significant expansions to PartsSource Pro\u00ae, the company\u2019s flagship solution and industry\u2019s first and only clinical resource management platform. Visual Formulary Controls and the Supply Chain Risk Monitor will be leveraged &#8230; <span class=\"more\"><a class=\"more-link\" href=\"https:\/\/pharma-trend.com\/en\/partssource-unveils-new-visual-formulary-controls-and-supply-chain-risk-monitor-to-help-clients-improve-equipment-uptime-and-supply-chain-resiliency\/\">[Read more&#8230;]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-44674","6":"format-standard","7":"category-industry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PartsSource Unveils New Visual Formulary Controls and Supply Chain Risk Monitor to Help Clients Improve Equipment Uptime and Supply Chain Resiliency - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/partssource-unveils-new-visual-formulary-controls-and-supply-chain-risk-monitor-to-help-clients-improve-equipment-uptime-and-supply-chain-resiliency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PartsSource Unveils New Visual Formulary Controls and Supply Chain Risk Monitor to Help Clients Improve Equipment Uptime and Supply Chain Resiliency - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"Breakthrough Technologies Institutionalize Evidence-Based Decisions for HTM and Supply Chain Leaders CLEVELAND&#8211;(BUSINESS WIRE)&#8211;PartsSource, the leading online marketplace for medical equipment maintenance parts and services, unveils significant expansions to PartsSource Pro\u00ae, the company\u2019s flagship solution and industry\u2019s first and only clinical resource management platform. 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Visual Formulary Controls and the Supply Chain Risk Monitor will be leveraged ... 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