Two Major Health Systems Select TECSYS, Further Strengthening Its Leadership in the IDN Space
Montreal, March 14, 2013—TECSYS Inc. (TSX: TCS), an industry-leading supply chain management software company, and the dominant provider of Consolidated Service Center (CSC) solutions to IDNs (Integrated Delivery Networks), announced today that two major health systems in the U.S. have selected its solutions for their IDN operations. The two multi-billion dollar organizations have selected TECSYS' solutions to help them in their supply chain transformational journey to reach a new level of efficiency, cost reduction, inventory visibility and improved service to patients.
Robert Colosino, Vice-President of Marketing & Business Development at TECSYS commented, "Undoubtedly, containing costs while sustaining high-quality service to patients is critical for health systems today. These organizations face daily challenges of volatile customer demand, low-to-nil visibility of inventories, diverse patient care processes, and a complex payment structure. All of which translate into costly supply chains that tie up a significant part of a clinician's day in non-healthcare activities. Over the last ten years we have enabled a significant number of IDNs through Consolidated Service Center (CSC) solutions that transform their old legacy system into an efficient and effective supply chain infrastructure. With TECSYS' technology and expertise, health systems like these two organizations are immediately reaping the inherent benefits of a CSC; millions of dollars in savings, while gaining inventory visibility across their care delivery continuum and the ability to focus on patient care for improved service."
The two health systems include:
One of the largest health insurers — a diversified health and wellness organization that serves millions of people across the United States with health and dental insurance, vision care and integrated health care delivery services. This organization's supply chain services help major hospitals manage hundreds of millions of supply spend in such areas as medical surgical supplies, implantable devices, capital equipment, pharmaceuticals and purchased services. Through TECSYS' distribution, warehouse and mobile delivery management solutions they will be able to deliver efficient supply chain management services that optimize purchasing, inventory management, warehousing, receiving and customer service for their hospital customers.
The second is an integrated health system serving the North Central part of the U.S. It is an accredited Accountable Care Organization (ACO) by the National Committee for Quality Assurance. ACOs are a group of healthcare providers who give coordinated care, chronic disease management, and thereby improve the quality of care patients receive. The organization's payment is tied to achieving healthcare quality goals and outcomes that result in cost savings. With over 10,000 employees, 17 hospitals, and a significant number of clinics and long-term care facilities, this health system is one of the largest in the U.S. They have decided on TECSYS' Consolidated Service Center approach to drive efficiency and cost savings and at the same time respond to new care delivery models in the changing landscape of healthcare reform.
TECSYS provides transformative supply chain solutions that equip our customers to succeed in a rapidly-changing omni-channel world. TECSYS solutions are built on a true enterprise supply chain platform, and include warehouse management, distribution and transportation management, as well as complete financial management and analytics. Customers running on TECSYS' Supply Chain Platform are confident knowing they can execute, day in and day out, regardless of business fluctuations or changes in technology, they can adapt and scale to any business needs or size, and they can expand and collaborate with customers, suppliers and partners as one borderless enterprise. From demand planning to demand fulfillment, TECSYS puts power into the hands of both front line workers and back office planners, and unshackles business leaders so they can see and manage their supply chains like never before.
TECSYS is the market leader in supply chain solutions for health systems and hospitals. Over 600 mid-size and Fortune 1000 customers trust their supply chains to TECSYS in the healthcare, service parts, third-party logistics, and general wholesale high-volume distribution industries. TECSYS' shares are listed on the Toronto Stock Exchange under the ticker symbol TCS.
Forward Looking Statements
The statements in this web site relating to matters that are not historical fact are forward looking statements that are based on management's beliefs and assumptions. Such statements are not guarantees of future performance and are subject to a number of uncertainties, including but not limited to future economic conditions, the markets that TECSYS Inc. serves, the actions of competitors, major new technological trends, and other factors beyond the control of TECSYS Inc., which could cause actual results to differ materially from such statements. More information about the risks and uncertainties associated with TECSYS Inc.'s business can be found in the MD&A section of the Company's annual report and annual information form for the fiscal year ended April 30th, 2015. These documents have been filed with the Canadian securities commissions and are available on this Web site and on SEDAR .
Copyright © TECSYS Inc. 2016. All names, trademarks, products, and services mentioned are registered or unregistered trademarks of their respective owners.