Vizient announced the launch of Capital Spend Insights, an online tool to help providers optimize their capital spend. The new platform, which simplifies capital equipment procurement, is the latest addition to Vizient’s suite of capital equipment solutions that help providers navigate the total cost of capital ownership from equipment planning to procurement and asset management.

"Capital equipment procurement is a complex, labor-intensive process," said Rebecca Gayden, vice president and general manager of capital equipment solutions. "Capital Spend Insights guides decision makers in finding the right value for new purchases as well as enhances the efficiency of that decision-making process."

Capital Spend Insights automates manufacturer quote submission to streamline product evaluation, increase efficiencies and help healthcare organizations reduce their capital spend. The new tool has an intuitive user interface and offers:

• Real-time pricing data.
• Advanced benchmarking to provide strategic insights for informed decision-making.
• Contract compliance via seamless integration of Vizient agreements.
• Procurement performance measurement with intuitive visuals and detailed reports for quote evaluation.

"Efficiently managing capital equipment spend is crucial in today’s market," said Gayden. "Capital Spend Insights provides the visibility healthcare organizations need to overcome the challenges and complexities of quote management and spend analytics."