VIE Healthcare® Consulting Announces New Patent for Its Purchased Services Technology

Tuesday, September 24, 2019 General News
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Invoice Analytics System Patent Covers 17 Claims In Purchased Services Spend Management

WALL TOWNSHIP, N.J., Sept. 24, 2019 /PRNewswire-PRWeb/ -- VIE Healthcare Consulting, an industry-leading financial and

operational improvement consulting firm specializing in hospital non-labor cost reduction and margin improvement services, announces their revolutionary patent in purchased services technology.

According to the American Hospital Association – The U.S. hospital's total operating costs were $991 billion in 2017 and purchased services spend is estimated at one-third or $330 billion and growing annually.

In one-third of a hospitals spend, which is purchased services, the # 1 challenge for hospitals is that a detailed report with the line item services data cannot be run from a hospitals materials management system. Hospitals have no visibility into their purchased services line item utilization data. All of the important, utilization data is trapped on the invoices and managing purchased spend on the line item detail level is all manual work for hospitals.

That is until now. Invoice ROI™ is a major breakthrough for the healthcare industry in managing purchased services spends. This first-of-its-kind, revolutionary, automated technology empowers and enables hospitals to easily have access to their line item spend details from their purchased service invoices and automates the invoice accuracy to their agreement.

"Invoice ROI will be an important part of hospitals spend management strategy," says Lisa Miller, VIE Healthcare's founder/CEO and inventor of Invoice ROI. "Until now, the only technology a hospital can utilize in managing purchased services spend is taking their AP spend file and visualizing the total monthly purchased services spend." While this is useful in understanding total spend, this technology doesn't provide invoice line item details which is a significant gap in what hospitals need to manage their purchased services spend. Invoice ROI provides finance, supply chain and every hospital department with the line item invoice details of their services spend so they can effectively reduce and manage their services spend for cost savings," says Miller.

The USPTO grant of this patent on July 25, 2019 (# 10,296,880) provides further recognition of the quality of the innovation being carried out by VIE Healthcare's team. For more information, please contact Lisa Miller at lmiller@viehealthcare.com or 732-359-7646 Ext 501.

About VIE Healthcare® Consulting Launched in 1999 by Lisa Miller, VIE Healthcare® Consulting provides leading-edge financial and operational consulting for hospitals, healthcare institutions, and all providers of patient care. For nearly two decades, VIE Healthcare® Consulting has stood at the forefront of healthcare, pioneering new strategies for operational efficiency, profitability, and patient satisfaction. In 2019, VIE Healthcare® Consulting launched its automated and patented technology, Invoice ROI™, helping more healthcare institutions achieve cost savings and margin improvement.

 

SOURCE VIE Healthcare



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