Start New Vendor Relationships on the Right Terms
The time will come when you will need to forge new vendor partnerships. Whether you are adding new technology to your portfolio or replacing an underperforming vendor, choosing the right partner is an important yet oftentimes daunting task.
Healthfuse helps hospitals form lasting, mutually beneficial relationships with new vendors.
We have profiled more than 1,200 healthcare vendors in our proprietary VendorMetrics database which allows us to objectively compare vendors across a multitude of parameters.
If a particular vendor is of interest is not in our database, we will profile them on your behalf.
Market Differences Create Different Vendor Qualifications
There is no one-vendor-fits-all solution in any segment, for any vendor service. Our recommendations are made based upon thorough review of analytics which most closely apply to your hospital or healthcare system.
Each vendor’s historical performance is broken down by factors which correlate to performance. These include process factors like placement age and upfront work, and market factors such as median income, unemployment rate, hospital size and contract complexity.
Each segment is evaluated based upon the factors which most directly affect performance. For example, factors influencing self-pay collections performance are weighted differently than for the purchase of bolt-on technologies.
Based on historical data, we benchmark optimal service levels for vendors in your market, or similar markets, to determine best fit. New and existing vendors are held accountable with service level agreements explicitly outlining performance expectations.
Healthfuse Helps Hospitals Improve Yield
Healthfuse is committed to driving yield for each of our partner hospitals. Because of this, we limit new partnerships to 10 per year to ensure each partner hospital is given the full time and attention they deserve.
We work chiefly with hospitals and health systems ranging in size from small independent hospitals to large regional or academic healthcare systems. Furthermore, if a health system includes physician offices and medical groups, we work to align the vendor strategy across these entities.
Our partners typically see yield growth equal to roughly 1%-1.5% of net revenues. For a hospital with $400 million in net revenues, this translates into an estimated $4 million yield growth. We work entirely on contingency. If we can’t improve yield performance, we don’t get paid.
Healthfuse has never been terminated for failure to deliver yield-generating results.