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Chicago, IL. TPC, a provider-owned collaborative consisting of 10 independent health systems across Texas and Arkansas, has entered into a multi-year technology and services agreement with OpenMarkets. TPC members will use CAP Connect, the OpenMarkets cloud-based capital equipment budgeting and procurement software, to drive new aggregation and contracting opportunities related to capital equipment purchases across member hospitals.
”After years of aggressively pursuing supply chain savings, TPC Members took the next step and committed to a unified approach for capital procurement cost savings,” says Beau Moon, Vice President, TPC. “By standardizing on a common platform with the ability to aggregate on capital purchases, TPC members will achieve additional cost savings while maintaining their clinical requirements.” Todd DeRoo, Chief Resource Officer at Trinity Mother Frances Hospitals and Clinics, one of TPC’s members, added, “At a time when healthcare organizations across the nation are faced with tighter budgets and more demands, every dollar counts. OpenMarkets was able to customize a work flow that was simple, efficient, and applied logic to meet the needs of our departments. By partnering with other health systems and companies such as OpenMarkets that look to new and innovative ways to cut costs without sacrificing quality, we’re ensuring our continued success in the industry.”
Since 2010, TPC has driven more than $126 million in savings across supply chain and purchased services categories. In partnering with OpenMarkets, TPC looks to build on their success to date by creating new savings and competencies within a historically underserved category within healthcare supply chain management – capital equipment procurement.
“We are very much looking forward to seeing firsthand, the new efficiencies and cost savings that OpenMarkets technology and services will provide for TPC,” said Dan Michalek, CEO, OpenMarkets. “It is rare to find a regional purchasing collaborative that works as cohesively as TPC. TPC’s strategic approach to purchasing combined with the power of OpenMarkets will undoubtedly take this capital procurement savings to a new level.”