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TMCNet:  MD Buyline Enhances Market-Leading Buyline Purchased Services Program™ (PSP™) With Scalable, Self-Service Resources

[March 04, 2014]

MD Buyline Enhances Market-Leading Buyline Purchased Services Program™ (PSP™) With Scalable, Self-Service Resources

DALLAS --(Business Wire)--

Consistent with its commitment to improving the market-leading Buyline Purchased Services Program (PSP), MD Buyline is proud to be releasing a high-impact set of product enhancements at a rapid pace. On the heels of the recently released cloud-based workbench, MD Buyline today announces ExpertRFP™. A premium module for PSP subscribers, ExpertRFP enables members to create customized, category-specific RFPs (requests for proposal) for a broad range of healthcare purchased services, both clinical and non-clinical.

Populated with category-specific content and maintained by MD Buyline's team of experienced clinical and operations analysts, ExpertRFP uses an entirely software-driven needs assessment approach to define and configure the scope and volume of services required by the member. After the needs assessment survey, members can publish RFPs to a number of service providers, receive their responses and analyze those responses online.

"Purchased services are the wild west of healthcare OpEx," said MD Buyline's CEO Satin Mirchandani. "It is large and fragmented, with numerous opportunities for exploration and improvement. Most members tell us, however, that is very difficult to keep track of the latest developments across scores of categories, many of which have historically been contracted for at the local or departmental level. Therefore, they need a simple, scalable process that permits their staff - who are stretched very thin - to rapidly define and fulfill their requirements using self-service tools that are supported by category-specific content and a rich knowledge library. ExpertRFP, a cloud-based solution that is maintained and updated in real time by MD Buyline's analyst team, permits members to become 'instant experts' in unfamiliar categories,thus driving tremendous savings while avoiding esoteric category-specific errors."


With these additional resources as part of the overall enhanced solution, MD Buyline enables hospitals across the nation to achieve 10% to 30% savings, on average, across more than 200 categories of hospital purchased services and more than 16,000 vendors (local, regional and nationwide). MD Buyline equips healthcare providers with best practices, resources and consultations with our purchased service experts to achieve a 3% sustainable improvement in their operating margins.

MD Buyline offers a comprehensive platform and advice to help hospitals identify operating expense reduction opportunities, compare their purchased service categories against evidence-based pricing benchmarks, and tackle initiatives with online resources, or with the help of our experts.

  • Opportunity Assessments: Members receive an initial opportunity assessment and a dashboard complete with contracts and spend file (e.g., AP, Pcard and ETFs) data. Our experts evaluate our members' data to find purchased service categories with the most cost reduction opportunity, and then we develop a roadmap to set our members up for success.
  • Price Benchmarking: At our members' direction, MD Buyline purchased service experts compare our members' data by category to industry price benchmarks to deliver a report of actionable, achievable savings.
  • RFPs: Members can decide to customize and initiate RFPs for any identified categories where they see an opportunity to bid out and receive updated pricing proposals from service providers. Once completed, responses from service providers can be analyzed and compared using ExpertRFP for maximum efficiency.
  • Detailed Contract Reviews: Members can also engage MD Buyline's purchased service experts for a full category analysis. Our experts provide intensive support by category to competitively bid a service through customized RFPs. We analyze the results and help our members select the right service provider for their unique needs. Along with contract reviews and redlines, MD Buyline's experts provide a thorough needs assessment and volume review to make sure members are contracting for the right service.

On Wednesday, March 26, 2014, MD Buyline will host a webinar with more information about ExpertRFP and how to drive down costs in hospital purchased services with MD Buyline's program. Join our experts for a walk through of our popular Purchased Services Program in use by over 400 facilities nationwide. Learn how our members are taking advantage of our comprehensive platform and consultations to help identify operating expense reduction opportunities, compare purchased service categories against evidence-based pricing benchmarks and tackle initiatives with online resources. Register for the webinar.

About MD Buyline

Healthcare providers recognize MD Buyline as the leading provider of evidence-based information and research. By creating transparency and fostering consultative relationships, MD Buyline has partnered with providers for more than three decades to identify cost reduction opportunities for purchased services, consumables, capital and IT. Providers rely on MD Buyline's data and clinical analysts for financial and clinical insight to reach long- and short-term goals. For more information, please visit www.mdbuyline.com and follow MD Buyline on Twitter (News - Alert), @MDBuyline.


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