Medpricer, the leading purchased services cost management solution for the healthcare industry, today announced a new partnership with UCHealth, a nationally-recognized health care system based in Colorado. The partnership empowers the health system staff to implement a strategic sourcing program utilizing Medpricer’s complete mSource platform and Precision Benchmarking.

UCHealth recognizes the tremendous potential of tapping into purchased service cost savings and has invested in the success of these efforts. With on-going growth and hundreds of service contracts expiring in the next 12 months, UCHealth leaders chose Medpricer’s cost management platform and benchmarking software to analyze service costs, run sourcing events and manage live negotiations and contracts. The cost savings that Medpricer expects to deliver will allow the organization to continue to reinvest in its core mission to improve lives.

With access to Medpricer’s unlimited Precision Benchmarks subscription, UCHealth will leverage reports that define savings opportunities within specific service categories. When combined with Medpricer’s complete, AI-powered automation platform, mSource, users standardize the processes for analyzing service opportunities in addition to contract negotiations and management. These tools create visibility within the health system by increasing stakeholder accountability, offering one place to conduct contract management and renewal, and simplifying the overall management of the self-sourcing process.

“Within weeks of onboarding, the UCHealth team is better equipped to run category-specific analytics and conduct incumbent negotiations. This goes to show our solutions are intuitive and collaborative across entire healthcare ecosystems,” said Medpricer CEO Chris Gormley. “Our partner recognizes that our end-to-end contract management process offers opportunities to put their saved dollars into other resources.” www.Medpricer.com.