hunterAI Receives Vizient Contract for Price Transparency Analysis Services

Artificial Intelligence
03.05.2023 11:45 am

hunterAI, which specializes in deep spend data categorization, spend transparency, and savings insights, today announced it has received a contract for its analytics dashboard services from Vizient, the nation’s largest member-driven healthcare performance improvement company whose membership represents more than $130 billion in annual purchasing volume. The agreement is effective May 1.

hunterAI offers end-to-end analytics and actionable insights into spend data within weeks. The agreement will provide Vizient members increased access to hunterAI services, which facilitate full spend data transparency and present savings opportunities, through pre-negotiated terms and pricing. In addition, through the agreement, hunterAI Business Analysts will offer continued support to further facilitate the deliverables on savings.

hunterAI’s unique cloud-native artificial intelligence (AI) and machine learning (ML) platform requires no human intervention to sort and categorize data. It extracts raw ERP (Enterprise Resource Planning) data or OCR’s (Optical Character Recognition) pdf documents (Invoices, Purchase Orders, Statement of Works and Contracts); cleanses, optimizes, commoditizes and “deep” categorizes data so individual product and services transaction spend data can be compared within a single provider, across all users and all suppliers on the platform.

“We are excited to offer Vizient members our technology through this agreement. We support health systems who are under tremendous cost pressure by removing complex barriers to gaining insights from their spend data," said hunterAI CEO, Jeffrey Heenan-Jalil. “Executives and employees of healthcare organizations should not be the casualty of cost cutting measures whilst alternative solutions remain”.

The insights Dashboards spotlights additional purchasing opportunities, provides strategic and evidence-based insights on the alternative sourcing options, highlights key price cost avoidance opportunities, supplier and product benchmarking, and product substitution alternatives. Individual data sets, unique to each provider, are now automated and normalized at an industry level. Additionally, Business Analysts support is available directly to the provider, to support their internal Procurement and Supply Chain departments, simplifying their manual and episodic purchasing process into a continuous flow of relevant and immediate insights. This is a truly compounded benefit offering. Facilitated by proprietary AI-ML technology, the speed to insights timeline is now reliably represented within weeks and refresh of monthly data within days.