BUSINESS NEWS

Vizient Partners with HANDLE Global

DECEMBER 2022

Vizient Inc. of Irving, Texas, entered into a strategic partnership with HANDLE Global, an ASCA Affinity partner, to launch a capital asset management system for its members. A healthcare performance improvement company, Vizient serves more than 50 percent of the nation's acute care providers, which includes 97 percent of the nation's academic medical centers and more than 20 percent of ambulatory care providers, according to a release. The system will enable Vizient members to access HANDLE's platform to track capital equipment and expenses and improve equipment lifecycle planning, procurement and asset utilization.

"Advancing performance by managing spend on capital, facilities and construction projects is critical to the long-term success of our members," said Rebecca Gayden, Vizient vice president and general manager of capital equipment solutions, in the release. "The capital asset management system—which offers data, analytics and insights—can help healthcare organizations reduce costs and operate more efficiently."

Alongside the capital asset management system, Vizient will offer advisory services to maximize efficiencies and effectiveness of capital procurement processes and identify savings opportunities.The services include reporting that highlights standardization opportunities and improved contract utilization as well as assistance in implementing new equipment and technology.

The capital asset management system provides a "fleet" analytics module to generate summary level data, insights and recommendations across the health system's fleet of capital equipment, according to the release. The module includes risk scoring to assist decision makers in equipment lifecycle planning and budgeting decisions.

"We're thrilled to partner with Vizient to help address some of the biggest challenges in the healthcare capital supply chain," said Kyle Green, founder and chief executive officer of HANDLE, in the release. "The lack of visibility into a healthcare system's full fleet of assets can be incredibly costly, and we are proud to offer the platform that empowers healthcare to make better decisions backed by what is now one of the largest capital data sets in the world."