TractManager Provides New Precision Tool for Budgeting, Planning for Capital Expenditures
July 17, 2019
TractManager has introduced Capital Market Intelligence, a cloud-based, integrated capital spend management system for optimizing the budgeting, planning, and purchasing of capital expenditures.
The company says Capital Market Intelligence delivers evidence-based data and expert analysis that informs and improves strategic buying decisions. For example, it offers the ability to analyze budgeted items to ensure the best equipment for a particular need is purchased at the best price possible.
The solution also features integrated clinical evidence, which predicts whether a given technology will be more effective in improving outcomes than alternate options. This depth of information is essential for understanding reimbursement potential, said TractManager, and whether a product supports value-based care initiatives.
“Expanding the perspective and reach of the supply chain can reveal new opportunities for improvement,” said Trace Devanny, CEO of TractManager, in the statement. “Capital Market Intelligence provides CFOs and capital planning and budgeting teams with actionable, defensible, decision-support data that reveals whether planned acquisitions will impact – not just the bottom line – but the health and welfare of the community as a whole.”
Another feature of Capital Market Intelligence is the Secondary Market Exchange, which helps organizations identify additional cost-saving opportunities. The system compares sales prices of thousands of like-new or certified refurbished equivalent products and provides the lowest possible price. The information provides negotiating power when working with a vendor on a new deal, even if there is no plan to buy a secondary market option.
The Secondary Market Exchange also provides an avenue to dispose of – and even profit from – old equipment, by providing insight into fair market value. With that knowledge in hand, healthcare organizations can either trade in devices to the vendor when making a new equipment purchase, or TractManager can sell the old equipment on their behalf.
TractManager’s healthcare-specific application suite serves three out of five U.S. hospitals. Serving the healthcare industry with integrity for more than 30 years, TractManager is the first mover in strategic sourcing, enterprise contract lifecycle management, provider management and evidence-based data. The company’s more than 450 highly skilled and experienced professionals help clients to improve cash flows by reducing their capital and nonlabor costs and to conform their contract, policy, and procedure management to meet regulatory requirements. For more information, visit tractmanager.com.
Sandra L. Taylor, Ph.D.
Chief Marketing Officer
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