Two Major Health Systems Select TECSYS – Further Strengthening its Leadership in the IDN SpaceThursday, March 21, 2013
TECSYS Inc. (TSX: TCS), an industry-leading supply chain management software company, and the dominant provider of Consolidated Service Center (CSC) solutions to IDNs (Integrated Delivery Networks), announced today that two major health systems in the U.S. have selected its solutions for their IDN operations. The two multi-billion dollar organizations have selected TECSYS’ solutions to help them in their supply chain transformational journey to reach a new level of efficiency, cost reduction, inventory visibility and improved service to patients.
Robert Colosino, Vice-President of Marketing & Business Development at TECSYS commented, “Undoubtedly, containing costs while sustaining high-quality service to patients is critical for health systems today. These organizations face daily challenges of volatile customer demand, low to nil visibility of inventories, diverse patient care processes, and a complex payment structure. All of which translate into costly supply chains that tie up a significant part of a clinician’s day in non-healthcare activities. Over the last ten years we have enabled a significant number of IDNs through Consolidated Service Center (CSC) solutions that transform their old legacy system into an efficient and effective supply chain infrastructure. With TECSYS’ technology and expertise, health systems like these two organizations are immediately reaping the inherent benefits of a CSC; millions of dollars in savings, while gaining inventory visibility across their care delivery continuum and the ability to focus on patient care for improved service.”
The two health systems include:
One of the largest health insurers; a diversified health and wellness organization that serves millions of people across the United States with health and dental insurance, vision care and integrated health care delivery services. This organization’s supply chain services help major hospitals manage hundreds of millions of supply spend in such areas as medical surgical supplies, implantable devices, capital equipment, pharmaceuticals and purchased services. Through TECSYS’ distribution, warehouse and mobile delivery management solutions they will be able to deliver efficient supply chain management services that optimize purchasing, inventory management, warehousing, receiving and customer service for their hospital customers.
The second is an integrated health system serving the North Central part of the U.S. It is an accredited Accountable Care Organization (ACO) by the National Committee for Quality Assurance. ACOs are a group of healthcare providers who give coordinated care, chronic disease management, thereby improve the quality of care patients receive. The organization's payment is tied to achieving healthcare quality goals and outcomes that result in cost savings.
With over 10,000 employees, 17 hospitals, and a significant number of clinics and longterm care facilities, this health system is one of the largest in the U.S. They have decided on TECSYS’ Consolidated Service Center approach to drive efficiency and cost savings and at the same time respond to new care delivery models in the changing landscape of healthcare reform.
About TECSYS and Healthcare
For over fifteen years, TECSYS has been providing distribution and warehouse management solutions to the healthcare industry; these include Fortune 100 manufacturers and distributors, as well as third-party logistics providers and the majority of IDNs in Canada and the United States. As an integrated solution suite, TECSYS' supply chain execution solutions for healthcare speed up the flow of business activity across the organization, consolidate information, manage inventory, drive dramatic cost savings, and help deliver superior customer service.
TECSYS is a leading supply chain management software provider that delivers powerful enterprise distribution, warehouse and transportation logistics software solutions. The company's customers include over 600 mid-size and Fortune 1000 corporations in healthcare, heavy equipment, third-party logistics, and general wholesale high-volume distribution industries. TECSYS' shares are listed on the Toronto Stock Exchange under the ticker symbol TCS.
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