Enhancing Member Value: Strategic Approaches for Regional Purchasing Coalitions

Enhancing Member Value: Strategic Approaches for Regional Purchasing Coalitions

Regional Purchasing Coalitions (RPCs) have achieved consistent growth through their focused, centralized approach and the distinct value they bring to members. This article delves into strategic practices RPCs can follow to deliver substantial returns to their hospital networks, and how a technical partner contributes to member value.

5 Ways RPCs Drive Value for Members

Successful RPCs bring measurable value to their hospital networks through technology partnerships:

  1. Maximizing Purchasing Power through Consolidation
  2. Bringing Repeatable, Scalable Speed to Sourcing Workflow
  3. Automating Data Flow for Efficiency and Faster Decisions
  4. Normalizing and Aggregating Member Data for Collective Benefit
  5. Securing Member Product Compliance for Favorable Negotiations

1 - Maximizing Purchasing Power through Consolidation

A pivotal avenue through which RPCs contribute to members is the consolidation of collective purchase volume, thereby enhancing contract leverage and generating savings for all participants. The intricacies of data management and contracts significantly influence the success of this consolidation effort.

RPCs, recognizing the value of visibility over complexity, can leverage Curvo contract and rebate analytics to uphold the integrity of their agreements. Combined with Curvo Data Enrichment, the solution gives RPCs the consolidation visibility they need.

2 - Bringing Repeatable, Scalable Speed to Sourcing Workflow

Contract roll-up, essential for building purchase volume, underscores the rationale behind hospitals joining an RPC. Their combined volumes translate into more leverage. But to actualize this benefit over time, RPCs need to infuse speed into their processes, and they need technology that can keep pace with growth.

A proficient technology partner, well-versed in healthcare intricacies, becomes instrumental in achieving the transformative outcomes RPCs need. The scalable, cloud-based Curvo Platform maintains the high standard for data-driven contract workflow even as the RPC network grows. Accelerated analysis and recommendations continue to dramatically reduce the sourcing timeframe.

3 -  Automating Data Flow for Process Efficiency and Faster Decisions

Process efficiency and accelerated decision-making are enabled by automating member data flows to a centralized repository. This streamlined workflow dramatically reduces the typical RPC contract timeline and gets members to value faster.

When the technology partner automates data input, more information flows through the pipeline, and analysts can easily broaden or shift the scope of their comparisons. Cost studies that used to take multiple weeks come back in one.

Curvo automation plus trained human data experts ensure accurate matching of products and data points from various members before ingestion into the repository or data lake. Consequently, data input is expedited, leading to quicker cost studies and a trainable intelligent system that continues to refine the comparison process over time.

4 - Normalizing and Aggregating Member Data for Collective Benefit

Much of what both RPCs and hospital supply chains want is to maximize the product volume flowing through their prospective contracts. When RPCs go to the suppliers with substantial member commitments, they gain favorable terms in contract negotiations.

However, before it can be useful, supply chain data must be consistent or normalized across all the member hospitals. Analysts must aggregate all kinds of member information to look for consolidation opportunities, but the data points have to line up. Ideally, data comes into the data lake exactly the same, whether it’s from Hospital A, Hospital B or Medical Center C, but usually data is not uniform.

Complexity arises from the varied data points accumulated by RPCs, necessitating a normalization process. 

Normalizing information for consistency is critical for aggregating complex data. It’s a job for specialists like Curvo Data Operations. The team specializes in quickly normalizing supply chain data across RPC member hospitals, ensuring consistency. Once normalized, the subsequent processes operate seamlessly, benefiting both members and RPCs.

5 - Securing Member Product Compliance for Favorable Negotiations

RPCs possess an intimate understanding of member purchasing patterns, giving them an advantage over larger purchasing organizations. The closer relationships ensure network support for RPC actions, and when RPCs prove to suppliers that members are committed to contracts, suppliers will work with them for favorable pricing. 

RPCs unlock this member value through compliance management, which is one of the services available through Curvo. RPCs can then keep compliance on track and avoid issues that affect everyone’s results. With Curvo systematically monitoring data and utilizing analytics to identify issues, RPCs maintain compliance, securing favorable pricing and ongoing trust from suppliers.

How to Maximize Your Value to RPC Members

Are you adding value to your members in the critical areas covered in this article? If you’re not where you’d like to be, reach out and learn more about the work we’re doing with other RPCs.