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Purchasing Optimization Analytics

Analytics and purchasing solutions that analyze pricing across a health system’s medication wholesaler/supplier contracts to highlight savings opportunities and improve purchasing efficiency.

Subject Expert
Jackson Tate
Research Director
KLAS Research Director - Jackson Tate
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Decision Insights

Latest Related Report

Pharmacy Purchasing Optimization Analytics 2024: An Initial Look at Performance & Capabilities) Report Cover Image
Performance
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Pharmacy Purchasing Optimization Analytics 2024: An Initial Look at Performance & Capabilities
24 June 24
Most healthcare organizations have made immense progress in their overall digitization process, and many are now switching their focus to the optimization of their technology and tech-related processes. High-cost areas are especially being scrutinized to see where costs can be reduced and efficiency improved. One historically high-cost area is the pharmacy, and organizations are starting to use purchasing optimization analytics solutions to identify savings in their pharmacy purchasing. This report—KLAS’ first in this space—examines why interviewed customers are generally satisfied with their vendor, to what extent vendors are driving outcomes, and what functionality is being utilized.

Report Abstract

Key Findings

  1. All Measured Solutions Drive Satisfaction by Providing Accurate Savings Opportunities; QuicksortRx Particularly Noted for Consistently Delivering ROI
  2. SpendMend* Seen as Innovative; All Vendors’ Customers Look to Add Additional Purchasing Channels to Maximize Value of Solutions
  3. Beyond Product Capabilities, QuicksortRx & SpendMend Trulla* Customers Highlight Vendor Engagement & Consultation in Finding Savings

*Limited data

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Performance Data

Overall Score by Product

Example Purchasing Optimization Analytics overall score by product image

Products Appearing in Decisions

Example Purchasing Optimization Analytics products appearing in decisions image

Overall Score by Question Topic

Example Purchasing Optimization Analytics overall score by question topic image

Provider Facility Size by Product

Example Purchasing Optimization Analytics provider facility size by product image

Provider Facility Type by Product

Example Purchasing Optimization Analytics provider facility type by product image
Current Time Inside Cache Tag Helper: 12/15/2024 1:05:30 AM and Model.SegmentId = 482
Related ReportsView All Reports
Emerging Technology
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QuicksortRx 2023
17 February 23    |   Jackson Tate and Jacob Brown
Drug procurement is a large expenditure for health systems, and it is often complex and time consuming to optimize spending. QuicksortRx hopes to reduce this burden with their pharmacy decision support platform that aims to use real-time data analysis to lower pharmacy spend efficiently. This report examines the experiences of customers using the QuicksortRx platform.
First Look
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Bluesight CostCheck (formerly Kit Check Bluesight Insights) 2023
20 January 23    |   Jackson Tate and Kyle Chilton
The Bluesight CostCheck solution (formerly Kit Check Bluesight Insights) assists hospitals and health systems with making intelligent buying decisions by providing real-time market insights. KLAS reported on the product in May 2021 , when it was Bluesight Insights and there were six unique customers live. The vendor has expanded the product to 44 fully live facilities at 15 unique organization and implemented several upgrades, including improved reporting and prioritized recommendations. This report provides a second look at how the CostCheck customer experience is progressing through the solution’s growth and changes.
Emerging Technology
KLAS article icon
SpendMend Trulla
07 October 22    |   Aurene Wilford and Jackson Tate
Pharmacy is the largest category of non-labor spend in healthcare and is one of the most complex areas of spend across any industry. Annually, there is considerable healthcare expenditure that is exacerbated by gaps in the pharmacy supply chain. Pharmacy buyers have limited tools to assist with ordering, costing health systems millions every year. Additionally, procuring medication at affordable prices is a concern for providers, pharmacies, and patients. This report offers an at-a-glance profile of Trulla, a pharmacy procurement software application aimed at helping pharmacy buyers select the most economic NDCs and suppliers, ultimately improving the drug-purchasing process.



Reducing Filters

Unlike sizing filters, reducing filters DO NOT recalculate scores based on the evaluations that meet these requirements. They narrow the list of solutions to show the vendors and solutions that can meet a specific need.

This data is based on interviews with a sample of the firms' recent clients. As a result, it is not necessarily comprehensive of all work a firm may do in this segment.

We require a minimum of 2 confirmations of a service performed in the last 3 years for a solution to qualify.

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