Cardinal Health launches TotalVue™ Analytics, a logistics management tool powered by data to drive cost savings
Cardinal Health (NYSE: CAH) launched TotalVue™ Analytics, a predictive tool for healthcare supply chain leaders to identify logistics savings and benchmark performance. This tool enhances visibility into shipping trends, helping health systems reduce freight costs. With machine learning capabilities, it enables precise benchmarking by comparing similar hospital systems. Early users like Banner Health reported substantial cost savings by improving shipping management. The tool aims to provide actionable data and long-term efficiencies in logistics management.
- Launch of TotalVue™ Analytics to enhance logistics savings.
- Utilizes machine learning for accurate benchmarking.
- Early adopters like Banner Health report significant cost reductions.
- None.
DUBLIN, Ohio, Jan. 5, 2021 /PRNewswire/ -- OptiFreight® Logistics, a Cardinal Health (NYSE: CAH) company, announced today the launch of TotalVue™ Analytics — a tool for healthcare supply chain leaders to utilize predictive technology and data to identify logistics savings and benchmarking. Leveraging the scale of Cardinal Health, TotalVue™ Analytics provides health systems with visibility into shipping trends to identify opportunities to reduce freight costs, including inbound shipments from suppliers or outbound shipments from sites of care.
"This solution gives our customers actionable data," said Melissa Laber, senior vice president and general manager at OptiFreight® Logistics. "With full visibility into every shipment, health system leaders can improve their efficiency and tracking and realize substantial long-term cost savings."
OptiFreight® Logistics utilizes machine learning for its benchmarking capability, which is driven by proprietary access to data and insights. "No two hospital systems are exactly alike, so we use the power of machine learning to find the best peers in the industry for comparison," said Marc Long, director of Business Intelligence at OptiFreight® Logistics. "This ensures benchmarks are as accurate as possible and enables more informed, effective logistics management decisions."
With TotalVue™ Analytics, users can monitor comprehensive performance of a logistics management program, including how small changes in shipping decisions can create continued savings. For example, TotalVue™ Analytics can identify cost savings opportunities such as a supplier that is shipping too many packages overnight, or a location that is not using the program to get shipping discounts. By reviewing consistent data points, health systems can set measurable goals and track performance.
Management of shipping spend across the health system is essential to identify maximum efficiencies, and visibility into critical logistics management metrics, which creates material cost savings. Several customers participated in a pilot launch of TotalVue™ Analytics, including Mike Halmrast, senior director of contracting at Banner Health, a non-profit health system based in Phoenix that operates 28 hospitals and several specialized facilities across six states. According to Halmrast, the more inbound, outbound and large freight shipments the health system has under management, the more dollars it can save to spend on patient care.
"It's that simple," Halmrast said. "That is where our collaboration with OptiFreight® Logistics comes in to play. They work in our best interest to identify more ways for us to centralize spend." From a data analytics perspective, Halmrast said the collaboration with OptiFreight® Logistics has been especially beneficial to encourage the supply chain teams at individual facilities across the health system to engage with the data and monitor their own performance.
"At OptiFreight® Logistics, we're focused on creating data and analytics solutions that meet our customers' needs – now, and in the future," Laber concluded.
To learn more about OptiFreight® Logistics and its solutions, visit cardinalhealth.com/OptiFreight, or email GMB-OptiFreight@cardinalhealth.com.
About Cardinal Health
Cardinal Health is a distributor of pharmaceuticals, a global manufacturer and distributor of medical and laboratory products, and a provider of performance and data solutions for healthcare facilities. With 50 years in business, operations in 46 countries and approximately 48,000 employees globally, Cardinal Health is essential to care. Information about Cardinal Health is available at cardinalhealth.com.
About OptiFreight® Logistics
A division of Cardinal Health, OptiFreight® Logistics provides logistics management across the continuum of care, delivering total transportation management for the healthcare industry. As a premier comprehensive logistics management provider, OptiFreight® Logistics anticipates healthcare customers' needs to help them optimize shipping costs through advanced analytics and integrated shipping solutions. More information about OptiFreight® Logistics is available at cardinalhealth.com/optifreight.
Contacts
Media: Courtney Tobin, courtney.tobin@cardinalhealth.com; Investors: Kevin Moran, kevin.moran@cardinalhealth.com and (614) 757-7942
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SOURCE Cardinal Health
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