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KY hospitals expect to save $1M In year one with Premier MySpend

Baptist Healthcare System (BHS) is one of the largest not-for-profit healthcare systems in Kentucky with five acute-care hospitals, more than 1,500 licensed beds, and locations in four markets. Hospitals include Baptist Hospital East in Louisville, the system’s largest facility; Western Baptist Hospital in Paducah; Central Baptist Hospital in Lexington; Baptist Regional Medical Center in Corbin; and Baptist Hospital Northeast in La Grange. BHS manages Hardin Memorial Hospital in Elizabethtown. The system also includes primary physician practices, urgent care, home health, occupational health and wellness/fitness centers.

Situation:

For Baptist Healthcare System (BHS), one of the largest systems in Kentucky, even minor adjustments in supply expenses can have a big impact.

Solution:

BHS signed up for Premier’s SpendAdvisor™ MySpend™ which offers easy access to supply chain savings opportunities as well as the ability to quickly see on-, off-, and non-contract spend; contract optimization and standardization opportunities; and whether contracts are being utilized.

Result:

BHS was able to pay all expenses associated with using the tool for three years with savings generated in just the first three months of use. In the first full year of use, anticipated savings are expected to reach $1 million. The tool not only allows them to analyze data, but also provides a broader perspective with the use of the national benchmark pricing reports, allowing decision-making and contract negotiation to occur from a more knowledgeable position. Further, employees using the system have access to user groups, which provide a valuable forum to share ideas and learn how other hospitals are using the tool.

"When you first turn it on, the information you get out of it is like trying to drink from a fire hose; there’s so doggone much. It’s taken us some time to understand what all it can do. We’re really, really pleased."

Mike Reeves
Corporate Director, Supply Chain Baptist Healthcare System

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