Broadlane Selected by New Hanover Regional Medical Center.DALLAS -- Broadlane today announced that New Hanover New Hanover or Lavongai (lävông`ī), volcanic island, c.460 sq mi (1,190 sq km), in the Bismarck Archipelago, part of Papua New Guinea. New Hanover is mountainous and densely forested. Regional Medical Center, a large and respected healthcare system serving southeastern North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. and northeastern South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. , has selected Broadlane to provide group purchasing, technology and custom and local contracting services under an exclusive three-year agreement. Terms were not disclosed. The group purchasing services to be provided by Broadlane will include sourcing and contracting for consumable A material that is used up and needs continuous replenishment, such as paper and toner. "The low-tech end of the high-tech field!" supplies and equipment, pharmaceuticals and purchased services. New Hanover Regional Medical Center will gain access to Broadlane's existing industry-leading portfolio of contracts and, in addition, Broadlane will assist New Hanover Regional Medical Center in developing strategic sourcing initiatives in areas of high physician preference. Broadlane will also provide New Hanover Regional Medical Center with technology services that include use of Broadlane's e-commerce exchange, BroadLink(TM), to connect to its suppliers. Broadlane is the only group purchasing entity in healthcare with its own integrated e-commerce exchange. Last year BroadLink recorded nearly $2.6 billion in client purchase volume. Reports generated by BroadLink will give New Hanover Regional Medical Center deep new insights into its procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. activities. New Hanover Regional Medical Center, which is headquartered in Wilmington, N.C., selected Broadlane after carefully examining competing service providers during an extensive due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. process. The agreement with Broadlane will become effective on Oct. 1 when New Hanover Regional Medical Center's current group purchasing relationship expires. New Hanover Regional Medical Center has approximately $125 million in annual supply spend. "In addition to our own due diligence, we also brought in one of the leading consulting firms Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a to further validate our analysis and it confirmed that Broadlane would provide the best pricing and value for New Hanover Regional Medical Center," said Jack Barto, the health system's chief executive officer. "Beyond the savings associated with utilizing Broadlane's national GPO portfolio, we also anticipate that Broadlane will help us achieve greater levels of standardization standardization In industry, the development and application of standards that make it possible to manufacture a large volume of interchangeable parts. Standardization may focus on engineering standards, such as properties of materials, fits and tolerances, and drafting concerning product usage, which we regard as a vital component of our supply chain initiatives. No other GPO that we looked at offered the level of contract implementation support that Broadlane provides." Said David Ricker, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Broadlane: "New Hanover Regional Medical Center's selection of Broadlane is further validation of the differentiation we have as a provider of services to hospitals. As its leadership recognized, no other company offers such a substantial price advantage in its contract portfolio, has the ability to help hospitals achieve such high levels of contract compliance, offers such advanced technology services and data management capabilities, and makes the kind of investments needed to service its clients -- both from a rapid implementation perspective in the beginning of the relationship but also in ongoing account management." About Broadlane Through a comprehensive set of services focused on contracting, purchasing, clinical and pharmacy cost management, labor, capital equipment and information management, Broadlane helps providers go further to reduce costs and improve financial performance. Broadlane is known for superior and verifiable cost savings, deep clinical and operational expertise and technology that enables more effective spend management. Together, these capabilities help providers rapidly achieve industry-best procurement practices. Broadlane serves thousands of acute care hospitals, sub-acute care facilities and physician practices across the country. The company was named in both 2004 and 2005 to Inc. magazine's list of the fastest-growing private companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Broadlane is headquartered in Dallas with additional offices in California, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Ohio. For more information, visit www.broadlane.com. |
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