TPC and Vizient Announce Strategic Agreement
Vizient Selected by TPC as its Strategic Partner for Sourcing, Performance Improvement and Cost Management Services
IRVING, Texas (January 8, 2018) – TPC, a network of independent health systems located in Arkansas, Missouri and Texas, has signed an agreement with Vizient for comprehensive sourcing, performance improvement and cost management services, including strategic sourcing, utilization management, and clinical and operational consulting, as well as, service line, clinical and supply chain analytics. Through the multi-year agreement that begins in early 2018, Vizient will serve as the preferred national group purchasing organization (GPO) and strategic cost management partner for TPC’s network of health systems. This agreement reestablishes the TPC and Vizient relationship that was previously severed in late 2016.
“The landscape evolved very quickly over the past year,” explained Geoff Brenner, TPC’s president and chief executive officer. “In reassessing the marketplace, we found Vizient’s significantly advanced value proposition and more fully integrated investments and competencies to be the best fit for us. Our new partnership will go well beyond traditional GPO boundaries and will align the strengths of both organizations into an optimized cost reduction and performance improvement engine, with a relentless focus on driving tangible financial results for TPC Members.”
Vizient will support TPC’s regional aggregation model and will work with TPC to jointly develop and implement their growth strategy across the southwest United States. Vizient’s investments in innovation and infrastructure, together with TPC’s committed coalition model, will enable both organizations to collaboratively extend their complementary resources and expertise to hospitals seeking to achieve the benefits of systemness while remaining independent.
“We are very pleased that TPC has chosen to partner with us,” said Rand Ballard, chief customer officer for Vizient. “TPC represents many of the community-critical health care organizations in the region, and coupled with Vizient’s comprehensive capabilities, we will work together to drive their overall performance improvement efforts that will lead to even better operational and patient outcomes for the health systems they serve.”
Based in Plano, Texas, TPC is a partnership of community-based hospitals that work together as a single system to aggregate business volume and leverage economies of scale without sacrificing individual independence or local ownership. By working through a committed platform, TPC drives collaboration and innovation across a range of clinical, operational and economic areas enabling providers to maximize the financial and non-financial value they receive. TPC represents 9 health systems and approximately $1 billion in purchasing volume, and has achieved more than $200 million in documented savings since 2010. TPC exists for the sole purpose of helping community-based healthcare organizations remain strong and independent. For more information, visit www.tpc1.com.
About Vizient, Inc.
Vizient, Inc., the largest member-driven health care performance improvement company in the country, provides innovative data-driven solutions, expertise and collaborative opportunities that lead to improved patient outcomes and lower costs. Vizient’s diverse membership base includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute health care providers and represents more than $100 billion in annual purchasing volume. The Vizient brand identity represents the integration of VHA Inc., University HealthSystem Consortium and Novation, which combined in 2015, as well as MedAssets’ Spend and Clinical Resource Management (SCM) segment, including Sg2, which was acquired in 2016. In 2017, Vizient again received a World’s Most Ethical Company designation from the Ethisphere Institute. Vizient’s headquarters are in Irving, Texas, with locations in Chicago and other cities across the United States. Please visit www.vizientinc.com as well as our newsroom, blog, Twitter, LinkedIn and YouTube pages for more information about the company.