NHS Wales Shared Services Partnership (NWSSP) Procurement Services has partnered with AdviseInc to implement advanced Spend Analytics across NHS Wales.
The partnership builds upon the delivery of over a million pounds a year in savings using AdviseInc’s Price Benchmarking tool (PB). AdviseInc’s Spend Analytics tool (PD) will ensure NWSSP have full visibility of all non-pay spend along with a long list of value-add analysis and insight, including P2P Analysis, Product Switching, Supply Route Switching, EU Exit Analysis, Price Variation Tracking and more. All available through AdviseInc’s cloud-based solution.
They’ll also benefit from AdviseInc’s latest development, HealthCheck. HealthCheck is a summary of all the key>KPIs, Stats and Opportunities for non-pay spend and is aimed at senior management – helping leadership focus resource on the things that matter locally and deliver the most value.
Jonathan Irvine, Director of Procurement and Health Courier Services, NWSSP commented:
‘‘AdviseInc’s team and their Spend Analytics services continue to be a key>enabler in helping NHS Wales deliver greater value. Given the significant ROI delivered to date through Price Benchmarking, we’ve now partnered to use PD, providing full non-pay spend analysis across NHS Wales. We’re looking forward to working more closely with AdviseInc over the coming years, delivering greater insight and opportunity to improve efficiency and outcomes for our patients.’
Behind the scenes, AdviseInc uses Artificial Intelligence to speed up the processing of data, including extraction, cleansing, normalisation and classification. “It means we can take data from a provider and in some instances have them live and using the analysis the same day” commented Philip Stoyle, Co-founder AdviseInc.
But it’s not all computers, “we have decades of knowledge as a team in terms of healthcare, procurement and product knowledge and this means we add value to a healthcare provider very quickly. In many instances, customers identify savings that pay for our services on the first day of use – meaning all future benefits pass straight through to the NHS and their patients.”
Mat Oram, CEO / Co-founder, AdviseInc, said: “We’re delighted to continue our work with NHS Wales. They’re a great example of a strong procurement team using the best of analytics to drive greater efficiency.””
“We’re seeing a growing number of healthcare customers that require more than a tool. The capacity and capability of local teams are stretched and having a service that turbo-charges an internal team is something more providers are asking us for”. The service is based on AdviseInc’s highly successful Price Benchmarking tool, recognised as being a world first by Lord Patrick Carter and delivered as part of his recommendation on reducing commercial variation across the NHS.
AdviseInc implemented the service across all providers in England in under 3 months and is credited with saving the NHS tens of millions of pounds.
“Our services are used across the UK and we’re now expanding internationally, we’re working closely with partners and government departments to roll out the ’best of British’ Healthcare Spend Analytics around the world.
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