Healthcare organizations are living, breathing miracles. Every day, lives are brought into the world, lives are improved, and lives are saved.
And behind every organ transplant, every heart surgery, every complicated birth and every knee replacement is something that most people don’t ever really think of: the organization itself. None of these amazing human-centered accomplishments can happen without the vital infrastructure in the hospital, the physician group, the insurance company, and the people running the day-to-day operations. So, while this fact might not get the headlines, or even any sort of acknowledgment from patients, it’s the foundation on which these success stories are built.
At TractManager, we empower the unsung heroes who make healthcare organizations run, with insights and technology to make smarter decisions. From improved sourcing decisions, to compliant contract lifecycle management, to NCQA-accredited credentialing, and provider management, we help people run their healthcare organizations at peak efficiency. And when this happens, ultimately, something pretty major happens: patients receive better care.
noun plural noun: oigins
1. The point where something begins, arises, or is derived.
TractManager’s origins go back to 2012, when our private equity owner, Arsenal Capital Partners, acquired MediTract. A first mover in contract lifecycle management and compliance, MediTract was founded in 2000 and is considered the gold standard in healthcare contract management. MediTract CLM serves more than 2,000 hospitals today and supports more than 15M contracts.
In 2014, MD Buyline joined the TractManager family. Founded in 1983, MD Buyline was the first company to aggregate purchasing data from hospitals to advise them on the best pricing to negotiate for capital equipment, capital service contracts, consumables purchases, and purchased services. More than 3,000 hospitals depend on our strategic sourcing solutions and services today.
MedApproved was the next company to join TractManager in 2017. Founded in 2009, MedApproved was the first company to automate product evaluation workflow and streamline the decision-making process for hospital and value analysis committees reviewing new products. More than 50 health systems and approximately 500 hospitals and other healthcare facilities rely on our value analysis solutions, professional services, and unbiased data to evaluate cost, quality, and outcomes.
Hayes Inc., founded in 1989, was also acquired in 2017. Hayes is the industry leader in providing unbiased, evidence-based data to hospitals and healthcare systems, ACOs, health plans, and insurers. Hayes’ payer clients represent 83% of covered lives in the U.S. and is respected and used around the globe. Hayes’ comparative-effectiveness analyses enable evidence-based decisions about acquiring, managing, and paying for health technologies.
EMTS, founded in 2001, was acquired in 2018. EMTS was the first mover in managing capital negotiations for hospitals, and has processed in excess of $3.1B in capital equipment-related negotiations, saving more than $240M for its clients.
Newport Credentialing Solutions, founded in 2009, was also acquired in 2018 and is the nation’s leading provider of cloud-based software and IT-enabled services supporting the provider management lifecycle. Newport provides enrollment software, NCQA-acredited credentialing services, cloud-based workflow, and analytics to some of the largest academic medical centers, health systems, and multi-specialty group practices in the United States.
The number of physicians working for hospitals in the U.S. continues to grow. A study released this year by Avalere and the Physicians Advocacy Institute says that the percentage of...
More than just a buzzword, artificial intelligence is already proving to be a game changer for organizations across a variety of industries—despite being in its infancy stage. Building off digital...
Skilled negotiators are like musical virtuosos. They have an extensive repertoire of instruments from which to draw upon, and they know when and how to make them a part of their performance. But...
The Process Revolution: Advancements in Healthcare Contracting
Learn how a process-driven approach to contract management helps healthcare organizations of any size achieve full visibility into their contract library.