GRAND RAPIDS, Mich., March 31, 2021 (Newswire.com) - SpendMend, the leading provider of tech-enabled solutions to optimize the Cost Cycle for the healthcare industry, today announced the delivery of a new analytics suite and dynamic analytics engine for granting U.S. Health Systems unprecedented visibility and insights into their Cost Cycles.
The new analytics suite provides improved visibility throughout health systems' cost-cycle while providing granular drill-down access into item-level data.
Insights through the analytics suite will enable health systems to quantify and remediate potential challenges within the Cost Cycle, expand visibility, expose dark data while monitoring Key Performance Indicators and comparing performance against best-in-class standards.
SpendMend CEO, Dan Geelhoed commented, "We partnered with our clients, accredited Healthcare consultants and GPO industry experts to provide an analytics suite that delivers a meaningful and in-depth view into a health system's Cost Cycle"
Chris Mindenhall, Director of Analytics added, "The new analytics suite is unique for our industry and allows hospitals and health systems unprecedented access to end-to-end Cost Cycle data."
The new analytics suite maintains the highest standards in healthcare security and compliance while supporting a modern data warehousing platform and cloud-scale big data tools, including the latest versions of Artificial Intelligence and Machine Learning technology.
Clients taking advantage of the new analytics suite are observing improvements in cost-savings, vendor hygiene, working capital optimization, contract management, purchase order and invoice accuracy, source utilization, payment card utilization, transactional efficiencies, returns optimization and much more.
The SpendMend Drill Down Analytics suite is the first in a series of Analytics tools to be launched by the company and is immediately available for all current clients with no limitations or restrictions.