Two of the United Kingdom’s Largest Hospitals Join the BravoHealth Spend Analytics and Benchmarking Cohort
” Guy‘s and St. Thomas NHS Trust and Leeds Teaching Hospitals NHS Trust Turn to BravoHea lth for Reliable Benchmarking Data
Two of the largest hospitals in the United Kingdom, Guy’s and St. Thomas NHS Trust and Leeds Teaching Hospitals NHS Trust, have recently joined BravoSolution‘s BravoHealth spend analytics and benchmarking cohort.
The BravoHealth cohort data set covers 20% of the total spend of NHS England, and is the most up to date, fastest growing, accurate and cleansed spend dataset in NHS England. The cohort data set is aligned and involved with all national procurement transformation initiatives, including: Getting it Right First Time (GIRFT), the DH efficiency metrics and GS1 demonstrator sites.
In addition to gaining better intelligence around spend, Leeds Teaching Hospitals’ was drawn to BravoHealth’s spend analytics and benchmarking cohort because of the community that has developed through information sharing. “With BravoHealth we don’t just receive a range of spot prices achieved by anonymous organizations,” said Chris Slater, head of supplies at Leeds Teaching Hospitals NHS Trust. “Instead we’re part of a community we can talk and problem solve with to improve our procurement and clinical initiatives.”
Historically, healthcare providers both across the NHS and internationally have struggled with a lack of buyer information and leverage in key categories such as medical technologies and pharmaceuticals. By moving towards greater information sharing, healthcare providers are able to gain price transparency and performance benchmarking against peers, ultimately improving supply chain efficiency.
Guys’ and St. Thomas NHS tried a number of analytic solutions in the past but recently adopted BravoHealth as their analytics and benchmarking solution provider due to its proven accuracy and the size of its data set. “Our goal is to use BravoHealth analytics and benchmarking to gain a deeper understanding of our spend management and identify new opportunities for saving,” said David Lawson, director of procurement at Guy’s and St. Thomas’ NHS Trust. “We are confident that BravoHealth will provide us with the foundation to improve collaboration, operational efficiency and stakeholder engagement.”
“New trusts are joining our cohort on a weekly basis. Both Guy’s and St Thomas and Leeds are a great addition to the group for other trusts to compare themselves against and collaborate with,” said Scott Pryde, account director at BravoHealth. “Next year NHS trusts face unparalleled financial challenges that can only be faced by collaborating to leverage the scale of our combined spend and scarce procurement resources. The foundation for this transformation will be shared, trustworthy management information, and using this evidence base to drive efficiency and productivity will be essential.”
For more information on how BravoSolution helps its customers outperform, watch the video: Unlock the Real Power of Procurement.
BravoSolution is a leading global strategic procurement solution provider. Our procurement technology platform and practitioner experience help more than 600 companies and 65,000 purchasing professionals in over 70 countries unlock the power of procurement to drive financial performance, develop procurement organizational excellence, manage risk, and influence innovation.
BravoSolution’s approach to strategic procurement consistently delivers business outcomes to enable customers to outperform their market. BravoSolution has direct operations in 18 offices located in 12 countries across 4 continents, employing more than 600 procurement experts. To learn more, see http://bravosolution.com, read our blog Strategic Sourcing, follow us on Twitter @ BravoSolution and connect with us on LinkedIn. ”