TractManager’s Purchased Services program helped a Southeast U.S. children’s hospital save $350K annually.
Analyzed information took advantage of product evaluation, further data analytics, and targeted negotiation points for a successful, competitively priced new agreement.Client Case Study: PURCHASED SERVICES PROGRAM
A large children’s hospital in the Southeastern U.S. was spending vast sums each year on a life-saving therapy for newborns and children with cardiorespiratory problems.
The Challenge:
The Challenge:Pediatric healthcare is a dynamic industry that changes quickly and requires specialized—often expensive—equipment and supplies to diagnose and treat children with a large variety of needs.
- iNO therapy is used extensively in children’s hospitals for the management of neonates and children with cardiorespiratory failure. This important therapy was expensive because of an orphan drug designation that impeded competition.
- TractManager’s sourcing analysts identified iNO therapy during a review of its client hospital’s spend as a “category to watch” for high savings opportunities.
- The hospital and TractManager shared intel over the years, resulting in quick action when exclusivity expired on the orphan drug.
The Solution?
TractManager helps a New York-based healthcare organization develop a fully compliant delegation program, reinstate its delegation agreement, and expand new delegation partnerships.
TractManager quickly identified significant compliance gaps, and repositioned the client for reinstatement of the lost delegation contract and an expansion of its delegated partners …
Delegated Credentialing Services developed an NCQA-compliant credentialing program in 3 months.
The health system’s ACO and Physician Group partnered with TractManager to design and implement an NCQA-compliant credentialing program. Within three months, TractManager developed the policy infrastructure and collaborated with the health system to implement a …
TractManager’s Purchased Services program saves a large Midwest system $668k annually in transcription spend.
The Challenge: not all facilities were covered under the vendor transcription contract, an unknown mix of resources reduced visibility into rates, there was no firm contractual language for performance or accuracy, and the vendor was overcharging for turnaround time surcharges …
Top 10 Negotiating Strategies
Skilled negotiators are like musical virtuosos. They have an extensive repertoire of tactics from which to draw, and they know when and how to make them a part of their performance. But negotiating healthcare contracts for capital, purchased services, and IT services can test the artistry of even the most masterful negotiator.