Two pieces of news provide a flicker of hope amid the doom and gloom.
BURLINGTON, MA -- (MARKET WIRE) -- 03/15/10 --
Emptoris, Inc., a leading provider of strategic supply and enterprise contract management software, today announced that more than 30 of the world's leading healthcare companies rely on Emptoris strategic supply management and enterprise contract management solutions. The company further announced that nine of the companies named to AMR Research's "Healthcare Top 25" are Emptoris customers. The AMR Research "Healthcare Top 25" identifies the global healthcare companies that have best demonstrated leadership in building supply chain excellence and innovation.
"There are a distinct breed of healthcare companies that have focused significant energy and resources into ensuring excellence and innovation in their operations. Such healthcare companies are increasingly seeing supply and contract management as a strategic practice which can help further their overall objectives -- including furthering savings, efficiencies and quality," said Patrick D. Quirk, President and Chief Executive Officer of Emptoris, Inc. "Emptoris is proud to be the standard-bearer for excellence and innovation in transforming supply chain and contracting processes in the healthcare industry."
"Healthcare in the United States is at a historic turning point, with significant changes ahead. Supply chain leadership and best practices can play a major role in helping to transform the industry, and in guiding the value chain along the journey toward its ultimate goal of delivering high-quality patient care at optimal cost," said Wayne McDonnell, Research Director, AMR Research in "The AMR Research Healthcare Top 25" report.
More than 30 leading healthcare companies, the vast majority Fortune 1000 companies with revenues in excess of $1 billion, rely on Emptoris solutions including Emptoris Sourcing, Emptoris Spend Analysis, Emptoris Services Procurement and Emptoris Contract Management. This includes 5 of the 10 largest healthcare companies -- and 8 of the healthcare industry's leading healthcare payers, including 3 of the top 4, representing 43% of the covered lives in the U.S. Further, 6 of the world's top 15 pharmaceutical companies also rely on Emptoris.
Nine Emptoris customers were included on AMR Research's "Healthcare Top 25," which identifies the global healthcare companies that have best demonstrated leadership in building supply chain excellence and innovation. The report rates companies based on quantitative reviews of their supply chain costs and overall productivity and efficiency, as well as a qualitative assessments based on a poll of leading industry and analyst experts. The full list of the AMR Healthcare Top 25 is available online at the AMR Research website.
"Emptoris solutions have a demonstrated record of success in the most demanding healthcare environments in the world. Emptoris' experience and solution functionality clearly set it apart from other software providers," said Kevin Potts, Vice President of Product Management and Marketing at Emptoris.
As an illustration of Emptoris solution impact, one report noted that one of the world's largest pharmaceutical companies had driven more than $1.8 billion of savings directly to the bottom-line over three years using the Emptoris suite. The profiled company experienced 18% to 26% cost savings in its sourcing, a figure the company estimates is 2 to 3 times what it would through other sourcing processes or solutions.
As an example of the scalability and scope of Emptoris solutions, Potts noted that one leading healthcare payer uses Emptoris Contracts to manage more than 250,000 contracts with an aggregate value of more than $30 billion.
For further information on Emptoris, visit www.emptoris.com. Emptoris customers include Allergan, the $4+ billion multi-specialty health care and global specialty pharmaceutical company; Boston Scientific, the $8 billion medical device company; Cardinal Health, the $99 billion healthcare services company; CareFirst, Inc., a $2.1 billion BlueCross BlueShield health insurer; Genentech, the $13 billion biotech company; McKesson Corp, with $106 billion in annual revenue, the largest healthcare company in the world; Molina Healthcare, Inc., the $3.7 billion managed healthcare company; Novartis, the $41 billion pharmaceutical company; UnitedHealth Group, Inc., the second largest healthcare payer in the U.S. with $71.5 billion in annual revenues. Additional customers include one of the world's top three pharmaceutical companies; another Fortune 100 diversified pharmaceuticals company; a Fortune 200 company and one of the five largest health insurers in the U.S.; a Fortune 1000 managed healthcare company and one of the 10 largest health insurance companies in the U.S.; one of the largest pharmaceutical companies headquartered in Asia; a EUR 3+ billion biopharmaceutical company; and leading BlueCross BlueShield licensees.
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