TractManager expands supply chain management partnership with Froedtert Health
February 19, 2020
DALLAS--(BUSINESS WIRE)--TractManager, the leader in strategic sourcing, contract lifecycle management, and provider credentialing, today announced a new agreement with long-time customer Froedtert Health to advance its supply chain management across the enterprise. TractManager’s integrated suite of supply chain management solutions support Froedtert Health’s continuing goal to create a standardized, transparent, and compliant purchasing process that extends to physicians, clinicians, and staff across Froedtert Health.
“As a health system’s second-highest expense, supply chains require partners who can help healthcare leaders manage critical purchasing decisions,” said Ed Hardin, Vice President, Supply Chain, Froedtert Health. “TractManager’s solution platform helps us make the right purchase decisions—based on data, quality, and value—and then assists us in managing those supply chain contracts compliantly and transparently across the organization. Their approach is creative and highly effective, and it has helped us advance our supply chain management to first-in-class in the industry.”
Froedtert Health is a Milwaukee, Wisconsin-based, integrated healthcare system providing a variety of health-related services, including hospitals and health centers, home care, laboratory, health insurance, employer health services and workplace clinics, and digital health solutions. In collaboration with TractManager, Froedtert Health has streamlined decision-making processes with an enterprise-wide approach to purchasing the right technology at the best value. TractManager’s value analysis solution supports an electronic requisition process for new product requests and assessments. Each stage of the supply chain is supported with automated, evidence-based new product and technology assessments, benchmarking, contract management, and a centralized contract repository.
“To be successful in today’s value-based world, operating the supply chain in a silo will no longer deliver the quality, care, and cost outcomes health systems and hospitals need,” said Trace Devanny, Chief Executive Officer, TractManager. “Froedtert Health’s enterprise-wide approach leverages TractManager’s technology-enabled services to bring together supply chain personnel, physicians, and clinicians. Our evidence-based systems support Froedtert Health’s desire to let the data determine which technology is best for the patient and available at the right price.”
TractManager’s central repository adds new levels of rigor to Froedtert Health’s supply chain processes by requiring staff members to answer a series of questions before submitting their requests. Information captured within the system is then analyzed using evidence-based analytics to ensure Froedtert Health’s analysis team is making the best purchase decision. All requesters, including physicians, have access to this information, which creates an additional level of transparency. The ability to pull key contract details into the repository enables Froedtert Health to monitor and manage vendor obligations efficiently.
Froedtert Health engaged TractManager’s Professional Services team to implement the company’s Contracting Compliance Suite, which includes automated Conflict of Interest Capture forms that are easily distributed, tracked, and completed by physicians, executives, board members, purchasing agents, or other professionals within the organization.
Froedtert Health is a long-time user of TractManager’s strategic sourcing portfolio, which includes Capital, Medical Equipment Planning, Purchased Services, and Recall Tracker solutions. TractManager also worked with Froedtert Health to redesign and integrate clinical evidence into its value analysis process. TractManager’s Clinical Evidence solution integrates unbiased evidence analyses for emerging and disruptive technologies, capital, and medical consumables into the decision-making process. In tandem with the value analysis software platform, evidence-based research provides transparency to the clinical, financial, and risk impacts of these new acquisitions.
About Froedtert Health
Froedtert Health is a Milwaukee, Wisconsin-based, integrated health care system providing a variety of health-related services, including hospitals and health centers, home care, laboratory, health insurance, employer health services and workplace clinics, and digital health solutions.
TractManager’s healthcare-specific application suite serves three out of five U.S. hospitals. Serving the healthcare industry with integrity for more than 30 years, TractManager is the first mover in strategic sourcing, enterprise contract lifecycle management, and evidence-based data. The company’s more than 450 highly skilled and experienced professionals, operating out of eight offices across the country, help clients to improve cash flows by reducing their capital and nonlabor costs and to conform their contract, credentialing, policy, and procedure management to meet regulatory requirements.