Vizient, Inc. today announced it has entered into a strategic partnership with HANDLE Global to launch a capital asset management system to help Vizient member healthcare organizations manage their capital expenses and equipment. The system enables access to HANDLE’s platform to track capital equipment and expenses and improve equipment lifecycle planning, procurement and asset utilization.

“Advancing performance by managing spend on capital, facilities and construction projects is critical to the long-term success of our members,” said Rebecca Gayden, Vizient vice president and general manager, capital equipment solutions. “The capital asset management system — which offers data, analytics and insights — can help healthcare organizations reduce costs and operate more efficiently.”

Alongside the capital asset management system, Vizient will offer advisory services to maximize efficiencies and effectiveness of capital procurement processes and identify savings opportunities. The services include reporting that highlights standardization opportunities and improved contract utilization as well as assistance in implementing new equipment and technology.

The capital asset management system provides a “fleet” analytics module to generate summary level data, insights and recommendations across the health system’s fleet of capital equipment. The module includes risk scoring to assist decision makers in equipment lifecycle planning and budgeting decisions.

In addition, a capital budget module will allow members to incorporate insights and recommendations from the fleet analytics module into their procurement and budget management processes, providing a strategic assessment of capital equipment budgeting, requisitioning, and asset management processes. The collection of capital lifecycle data provides analytical insights to plan capital purchases and allocate assets to an organization’s enterprise resource planning system.

“We’re thrilled to partner with Vizient to help address some of the biggest challenges in the healthcare capital supply chain,” said Kyle Green, founder and CEO of HANDLE. “The lack of visibility into a healthcare system’s full fleet of assets can be incredibly costly, and we are proud to offer the platform that empowers healthcare to make better decisions backed by what is now one of the largest capital data sets in the world.”

Learn more about Vizient capital asset management.

About Vizient, Inc.

Vizient, Inc., the nation’s largest health care performance improvement company, serves more than 50% of the nation’s acute care providers, which includes 97% of the nation’s academic medical centers, and more than 20% of ambulatory care providers. Vizient provides expertise, analytics and advisory services, as well as a contract portfolio that represents more than $130 billion in annual purchasing volume. Vizient’s solutions and services improve the delivery of high-value care by aligning cost, quality and market performance. Headquartered in Irving, Texas, Vizient has offices throughout the United States. Learn more at www.vizientinc.com.

About HANDLE Global

HANDLE Global is a leading provider of healthcare supply chain analytics and fulfillment solutions, focused on improving data quality, enhancing transparency, and empowering strategic decision-making. The company designed the CCM® (Capital Cycle Management) platform, an AI-driven software solution that optimizes the entire capital cycle from planning to procurement, management, and disposition of capital equipment. CCM® received the “Best Data Visualization Solution” award from MedTech Breakthrough. Additionally, HANDLE’s Marketplace, which is connected to CCM®, provides procurement and end-of-life options including equipment renewal, asset trade-ins, and active stockpiling. Learn more at: http://handleglobal.com.

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