Join our 9/26 webinar with Guthrie Health to hear their story
A little over a year ago, Guthrie Health began looking for a change in their capital process. With requests spanning over 300 unique categories, it was near impossible to run a standardized capital process - each part of the health system was separate and consisted of even more individual processes for capital procurement.
It was at this time that Guthrie started to centralize the way capital is procured, looking to save both time and money in the process. With the number of users who request equipment, Guthrie needed a system that would fulfill the needs of all different stakeholders and workflows.
Guthrie partnered with OpenMarkets for their full capital budgeting and requisitioning enterprise software, CAP Connect™. With a built-in product directory, customizable tracking tools for finance and enhanced user permissions schema, OpenMarkets delivered a product that met Guthrie’s needs. Users can easily review Capital Equipment Form (CER) information and quotes, as well as communicate directly on the platform. Guthrie was able to customize forms and approval processes to fit their unique needs, whether it be for construction & project related requests, standard purchases or equipment trials.
|Steps in the Online Approval Process||6-10|
Guthrie took the partnership a step further, utilizing OpenMarkets to get connected to the marketplace in a new and innovative way. Using OpenMarkets to introduce them to new suppliers, look for comparable products, scan the refurbished market and even to sell equipment, Guthrie has returned hundreds of thousands of dollars in additional value. Whether it’s finding a new distribution channel such as Kerma Medical, opting to buy refurbished scopes from Surgical Direct, or discovering a new equipment manufacturer such as MarketLab, Guthrie continues to expand their reach in the market, empowering their ability to source and save.
|Before OpenMarkets||After OpenMarkets|
|Capital Process||Decentralized & reactive||Organized & proactive|
|Time required to find a capital request||30 min - multiple days||1-2 minutes|
|Data for proactive strategic sourcing||no||yes|
Julie Godfrey, VP of Finance at Guthrie, sums up their work with OpenMarkets best:
We knew we needed to improve our approach to the capital requisition and tracking process in order to streamline the process for not only our finance and supply chain teams, but also for our operational managers, administration and our reporting to governance in support of capital allocation and capital planning decisions, but we simply didn’t have the tool. OpenMarkets changed that for us, as they walked us through the capital process improvements in a straightforward, measured way. We were able to quickly align finance, operations and supply chain leaders and train over 200 users. The impact has been tremendous. We are aligned on the information that our governance committee now uses to set priorities on capital spending, and we can see real-time capital needs across the system. It’s remarkable how much more transparency and visibility we have. The financial impact is beyond our expectations and everyone is happy with how much waste we have removed from the process which in turn has saved time and money.
The ability of OpenMarkets CAP Connect™ to empower the sourcing team, centralize the health system’s workflow, and improve operations combined with new reach and access to a large health care supplier community has created a successful partnership that gives time and money back to patient care, which is most important.
Sign up today to join Guthrie Health & OpenMarkets in a 60-minute educational broadcast about how they transformed their capital process. Session will be on September 26th at 1 pm EST.