2008-04-07 23:54:46 -
www.amerinet-gpo1.com/amerinet.aspx - Amerinet Inc. Lisa DiMuccio-Zgela, Vice President, Marketing 724-772-8388 lisa.zgela@amerinet-gpo.com or Harold Aughton, Public Relations Specialist 724-778-3423 harold.aughton@amerinet-gpo.com Amerinet Inc., a leading national healthcare group purchasing organization, announces its fiscal results for 2007. During this time, Amerinet provided members with $335 million in contract portfolio savings on $6.5 billion in purchases resulting
in $39 million returned to members.
Because of Amerinet's ability to deliver hard-dollar savings, overall membership increased by 17 percent. At the same time, Amerinet strengthened its leadership role in the non-acute market reflected by an 18 percent increase in new memberships.
In 2007, Amerinet adopted a new mission and vision to focus on strategic solutions that enhance how healthcare providers deliver patient care. As a direct result, Amerinet launched a competitive menu of Total Spend Management Solutions and high-level, customer-focused services designed to improve workforce and supply chain effectiveness as well as address quality and safety issues.
"We are continuously looking for ways to reduce our members' costs and help them improve healthcare delivery," said Todd C. Ebert, Amerinet president and CEO. "Our new Total Spend Management Solutions creates added value for our customers by enhancing revenue cycle, supply chain and workforce efficiencies that lead to improved operating margins."
Listed below are newsworthy highlights of 2007:
Launches Total Spend Management Solutions
With healthcare providers facing increase regulatory and financial pressures, Amerinet launched a new approach to the traditional GPO model. That strategy is designed to improve operational and financial performance by addressing supply chain effectiveness, revenue cycle management, and workforce performance.
Amerinet's Total Spend Management provides a clear path for healthcare providers to enhance the delivery of quality patient care while retaining and recruiting quality employees, investing in new technologies and expanding operations to offer innovative and exceptional medical services.
The new Total Spend Management Solutions business model also provides the flexibility to invest in new technologies, acquire additional resources and partner with new suppliers to strengthen Amerinet's competitive portfolio of product and service contracts.
Acquires DataBay Resources and Inquisit
As a leading GPO, Amerinet understands the importance of market information and the educational needs of its members. "That's why we purchased and incorporated DataBay and Inquisit into Amerinet's nationally-focused Total Spend Management strategy," explained Ebert.
DataBay's software solutions - Navigate, Navigate-MD and Navigate-Profitability - provide healthcare decision makers with the critical information to conduct data analysis for medical staff and strategic planning by identifying opportunities for revenue growth.
Inquisit provides healthcare professionals with important continuing education units and continuing medical education through its innovative technologies that include iQast, Webcasting service, Learning-On-Demand and additional services through its iInfluence customized education programs.
Partners with Craneware to offer Decision Dashboard
In a move to offer members a full suite of Total Spend Management Solutions, Amerinet partnered with Craneware Inc., a leading supplier of business intelligence and revenue cycle software. Craneware provides clients with chargemaster management software and products designed to optimize legitimate reimbursements and assist in managing the revenue cycle through better information, workflow, pricing strategy, capture of lost revenue and best practice modeling.
In addition, Amerinet developed a comprehensive set of key performance indicators to augment Craneware's Decision Dashboard capabilities to help healthcare providers link supply chain expenditures with reimbursements. Amerinet's new supply chain solution tools provide hospitals with a high-level, graphical representation of expenses by time, product and the individuals initiating the purchase. This real-time analysis of a facility's spend identifies savings and process improvement opportunities.
Releases Capital Improvement Solution
Offering innovative services is an important goal to Amerinet members, which was the impetus behind the creation of the new Amerinet BudgetMatch program. Amerinet BudgetMatch powered by MEMdata is a service that streamlines and simplifies the capital equipment budgeting process for hospitals and health systems. It also provides a more competitive estimate of a facility's actual capital outlay, and up to 18 percent savings on actual equipment purchases, depending on the service level.
The new Web-enabled, Amerinet BudgetMatch program is designed to assist medical facilities in maximizing their capital equipment budget to ensure best practices in budgeting and procurement for a more accurate forecast. This expanded service and software have been co-developed in a unique partnership between Amerinet and MEMdata, a technology management firm that specializes in capital equipment procurement, budgeting, research, planning and related activities for healthcare organizations.
Adds Workforce Solutions to Total Spend Management
With new strategic partners, Success Profiles Inc., and Workforce Prescriptions Inc., Amerinet now incorporates national benchmark standards in the healthcare industry for employee commitment and engagement to improve labor effectiveness and reduce labor costs.
This strategic solution also offers executives a complete line of resources designed to reduce patient's length of stay by improving workforce processes, addressing labor efficiencies, as well as recruiting and retention practices.
Announces Online Resources
As part of Amerinet's innovative development strategy, Amerinet launched a new portal to its Web-based tools, programs and services. Found on Amerinet's member resources Website, healthcare providers are able to access contract information, purchasing history and financial information 24 hours a day. It provides healthcare providers with the resources to control costs and optimize their financial performance in real time.
By the end of 2007, Amerinet renewed its dedication to its members by stepping out of the traditional GPO business model to develop and implement a holistic approach to address healthcare costs and operational performance. Amerinet's Total Spend Management Solutions are strategically designed to help health care providers make the most out of their financial resources and enhance their ability to deliver high quality healthcare to the patients and communities they serve.
About Amerinet Inc.
Through Total Spend Management Solutions, Amerinet strategically partners with healthcare providers to improve operating margins by creating efficiencies, reducing costs and identifying new revenue streams.
Supported by a team of clinical, data and supply chain experts, Amerinet offers a suite of tools, programs and services including a comprehensive and competitive portfolio that delivers practical solutions to address members' specific needs.
Based in St. Louis, with offices in Salt Lake City, Utah, Providence, R.I., and Warrendale, Pa., Amerinet serves more than 26,000 acute and non-acute healthcare providers nationwide. To learn more, visit www.amerinet-gpo.com.
Healthcare Providers Strengthen Operational and Financial
Performance
