VIE Healthcare is the proprietary technology and analytics platform developed by VIE Healthcare Consulting (acquired by SpendMend in 2022) to drive non-labor cost reduction and margin improvement for hospitals and health systems. The core technology, known as Invoice ROI™, is a patented invoice analytics system that provides an unparalleled level of detail for purchased services spend.
Unlike traditional benchmarking and dashboard solutions, Invoice ROI™ focuses on line-item reconciliation of historical invoices (up to 12-18 months) to uncover pricing errors, non-contract spending, and utilization issues that are often missed.
Key Capabilities
The Invoice ROI™ platform integrates with the consulting service to deliver real-time, actionable intelligence. It is designed to automate the process of invoice data capture and analysis, which significantly speeds up error identification and contract matching.
- Invoice Reconciliation: Automated line-item reconciliation of scanned invoices against vendor contracts to identify billing errors and non-contract spending.
- Contract Optimization: Provides data-driven insights to renegotiate purchased services agreements and ensure contract accuracy prior to invoice payment.
- Business Intelligence & Analytics: Generates analytics based on line-item details to identify spending trends, purchase patterns, outliers, and utilization improvement opportunities.
- Real-Time Corrective Action: Enables staff to match invoice accuracy to the contract prior to payment, preventing future financial leakage.
Target Users and Use Cases
The service and technology are primarily used by hospital and health system executives, including CFOs, Supply Chain Directors, and Performance Improvement teams. The main use case is achieving significant, sustainable cost savings in the Purchased Services category, which can account for a large portion of a hospital's non-labor spend.
VIE Healthcare Consulting has leveraged this technology to generate over $1 billion in non-labor cost savings and revenue improvements for their healthcare clients.