The joint solution is the first capital operating system deployed across the entire healthcare continuum for maximum efficiency, visibility, and strategic use of capital.
HANDLE Global is proud to enter into a strategic partnership with Vizient, Inc. to deploy Capital Cycle Management or CCM®, the first end-to-end healthcare capital operating system. The platform will drive Vizient capital asset management and provide members with access to HANDLE’s proprietary platform, Marketplace, and a full suite of capital solutions and advisory services.
Healthcare systems have historically experienced challenges maintaining accurate and complete data about their full fleet of capital assets. Disparate systems are used across supply chain, finance, and biomedical engineering functions. Inconsistent capital request formats are used throughout organizations. A rise in merger and acquisition activity results in different data sets and nomenclature, and construction project equipment lists are frequently disconnected from existing fleets. Additionally, risk points related to cybersecurity, patient safety, and recalls are either unknown or not visible in a centralized, unbiased system. All of these issues can be costly and labor-intensive to correct and can impede efficient and strategic decision-making for budgeting, procurement, management, and disposition of capital.
With CCM®, providers of all sizes can eliminate financial blind spots, aggregate strategic sourcing opportunities, create transparency and collaboration in the budgeting process, drive clinical and contractual standards, and enhance revenue upon disposition.
“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 sometimes dangerous, and we are proud to offer the platform that empowers healthcare to make better decisions backed by what is now the largest capital data set in the world.”
CCM® users can also expect to spend up to 80% less time on capital budgeting and sourcing while saving millions of dollars per year in the average health system.
“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.”
Vizient members will also have access to the connected HANDLE Marketplace, which redefines how healthcare systems buy and sell equipment and supplies and can offer additional opportunities for cost savings and revenue generation.
To learn more about the Vizient capital asset management solution powered by HANDLE CCM®, visit: https://landingpages.handleglobal.com/vizient