When Curvo and BroadJump merged earlier this year, two value propositions came together and brought game-changing transformation to the healthcare supply chain.
Andy Perry - I'm a lifelong healthcare supply chain guy, similar to Dan, and I realized early on that if you're competing in the market at the patient level on outcomes and cost per outcome, you can really move the needle.
I saw how the supply chain supports that, and that's been the driver at Curvo all along. How can we use the supply chain to move the needle for the value of healthcare? That's what gets us up in the morning.
What's cool is that's also what drives Dan and the BroadJump team. We're all patient-centric, customer-centric and mission-focused on a common goal.
Our organizations fit together in a very complementary way, almost like a jigsaw puzzle. Now we’re a much bigger company, covering nearly 40% of the market from a supply chain data perspective. With that force and power, our teams are energized to go deliver.
We've got a great project led by a former Googler who has lined out exactly how this common data pipeline is going to come together. Internal and external team members are collaborating on it.
Dan DeTorrice - One thing about our supply chain customers is they have an extremely complex business to manage. Every day they walk in and put out fires. A lot of people outside healthcare don't understand the amount of complexity our customers deal with.
One of the key things about our two companies is that we make processes more efficient and bring you opportunities, versus the sourcing team having to sort through a lot of data.
Andy - I'm a data geek, so I may enjoy doing that, but a lot of our customers don't have time. They must do a lot of things every day to manage their business. When they go into their software or analytics, they want the answer to be there, so they can react. They want to see actual intelligence and realized savings as soon as possible.
Dan - Between Curvo and BroadJump, we get them out of mining and coupling data together and the static spreadsheets. We can tell them, here's an opportunity, and here's how you're doing at it right now. Between the BroadJump Playbook and Curvo Cloud Analytics, it's going to be a nice marriage.
Dan - Our customers are eager to know when they can get more data, benchmarks and a deeper understanding of what others are doing in certain categories. Having an additional, deeper aspect of nearly 40% is a big deal. We're probably the largest independent source of supply chain data in the country.
Just by merging the companies together, our customers automatically get additional data and insights. And then there will be “Easter eggs” as we call them, that give additional value relatively easily to our customers just by combining the two companies.
Andy - If you look at how work often gets done now, supply chains are going into five or six different applications. They're pulling data from one to another, and trying to link that together.
Analysts have become almost a ticketing system. When a business user needs a report, they ask the analyst, who must get all this together in spreadsheets. Maybe they have some fancy macros, but they're basically reinventing the wheel every time.
We gather all this under one hood so there’s one place to go to bring those analytics to the cloud. Whether it's your pharmacy spend, your implant spend, your PPI spend, you’ll have deep business logic and rich data across each of those buckets for a productive, connected experience.
Dan - Customers want one place to go for non-labor expense data, rather than having multiple niche tools and analytics that they have to stitch together.
The first thing we're doing out of the gate is get all of that data within one common pipeline. Then we’ll release all the goodies we can out of it for our clients.
Andy - BroadJump does a great job on their pharmacy products, and Curvo customers are enthused that pharmacy is now going to be part of the spend management platform and data corpus.
BroadJump has been working hard on the best opportunities you need to do right now. The BroadJump Playbook is getting traction in the marketplace, and we'll bring the insights and the functionality out of that to Curvo clients.
We're especially energized for our regional purchasing collaborative (RPC) clients and for supply chains that have pharmacy as part of their scope. It's going to be a nice value add to bring in.
Dan - From a BroadJump client perspective, there's one critical area that Curvo has already mastered, and that’s contracts and rebates.
With more complicated rebates, supply chains have trouble managing and optimizing them appropriately. That's one of the first things out of the box we will offer to our BroadJump clients.
Dan - The other big thing that Curvo analytics bring to the forefront for BroadJump customers is the ability to do customizable dashboards.
Now sourcing teams have a truly customizable report dashboard where they can integrate all the pieces of information they need and share it with upper management. That's a big value-add for our customers.
Andy - The non-labor spend market is about $600 billion, and we have over $100 billion between us now. A chunk of that's going to be pharmacy, and some is purchased services.
We now cover close to half of the implant, PPI and MedSurge markets, and our most recent numbers show we have data spanning over 2,500 facilities.
Andy - With 2,500+ acute care facilities in the data corpus, and about 40% of the non-labor supplies market, we see this as a chance to be the yardstick for the industry. We want to be accountable as the central source of truth about how these organizations and devices perform in the market.
Up and down the value chain, med tech organizations and providers can look at the same “sheet of music.” Everyone will have a common, independent source of truth.
Supply chains won't have to cobble this stuff together themselves anymore to get a true picture of the market as it relates to them.
Our two companies are coming together with virtually no overlap. It's all net new data to the corpus and in what we can do for clients with the rich cross-reference information.
Andy - We now have the largest independent data set in this market, and we want to remain neutral in how we approach all our analytics. We’re paid to help hospitals and health systems be more efficient and save money, and that's ultimately our goal.
We're here to help hospitals manage their costs and save money on their non-labor expenses.
Our mission is neutrality, accuracy and making things as easy as possible. That's a key differentiator for health systems looking for a data partner.
Andy - One question we've gotten is if the person I deal with is going to change, and the answer is no. What's been great as we’ve brought the companies together is just how strong the teams and relationships are at both BroadJump and Curvo. The last thing we want is to interrupt that.
We're actually going to lean more heavily into those relationships. We want to give every team member on your customer team more and more tools to serve you.
Dan - A big milestone for us is the end of the year. We're targeting getting all that data under one roof and then back into legacy applications after that. We should have some pretty good news on that by the end of the year, and then these Easter eggs will start rolling out soon after.
Andy and I are very energized about what we bring to the marketplace. With the amount of data we have, the analytics, the firepower, and the experience of our staff, we're excited about what’s ahead.
The future is bright as far as what we're doing to help hospitals save money with non-labor expenses.