ONLINE CONTRACT MANAGEMENT AND ANALYTICAL TOOLS

Novation provides innovative contract management capabilities that are considered to be the best in the industry. These applications provide instant access to all of your contract information in a central online location, so that you have the tools necessary to maximize contract value. This includes providing you with up-to-date Novation contract and product details, the ability to manage your local contract information, analyze tier pricing, cross reference products and manage commitment forms online.

Novation Contract Catalog (nc²)

The online contract catalog provides you with fast, easy access to the best contract prices in the industry. The catalog allows members to instantly access product and price information for all Novation agreements. It also allows you to cross-reference products that you are currently purchasing against Novation contracts and provides the ability for you to load and manage your locally negotiated agreements along side Novation contracts. This tool makes it easy to:

• Order, be billed and pay the correct price for each item
• Pay the same price for the same item everywhere in your organization
• Maximize volume price tiers
• Keep abreast of price changes and market conditions
• Manage your complete contract portfolio

Contract Activation

Although Novation’s goal is to eliminate commitment forms whenever possible, letters of participation are still required by some suppliers. For forms that cannot be eliminated, Novation has introduced enhancements to the Form Manager area of Marketplace@Novation®, which is utilized by both members and suppliers to help automate and manage the contract activation process. Members are able to submit forms electronically, and suppliers can approve them online without a tangible signature, therefore, eliminating the paper process and reducing the time required to complete contract activation.

Online Contract Reports and Alerts

Several reporting features are available to members through Marketplace@Novation that provide insight into spend, contract usage and pricing. Through these supply analysis capabilities, members can:

• Review summaries and trends on hospital purchases by Novation contract
• Identify inconsistencies in product prices within your network of facilities
• Access summaries of dollar volume, orders and lines for all transacting suppliers
• Identify daily discrepancies in prices and units of measure between hospital and supplier item files
• Analyze purchase information on product areas such as office and food supplies

Pharmacy Spend Analysis Reports and Alerts

Pharmacy departments have access to a unique set of supply analysis tools that allow members to manage their pharmacy spend more efficiently and gain insight into savings opportunities.

• Identify products purchased outside of a Novation contract, yet are available on contract
• Validate invoice level pricing against Novation contract pricing
• Monitor purchasing performance in real time by providing details on current market share
• Facilitate recouping of failure to supply dollars based on existing Novation contract provisions
• Gain insight into the tiers your hospital was invoiced by wholesalers
• Review summary level detail on dollar volume and unit for pharmacy products purchased through wholesalers and view invoice information by AHFS category

Contract Value Assessors

This tool cross-references current line-item purchases with products and pricing available through new agreements and shows available savings by line-item and in aggregate. Contract Value Assessors are currently available for the following product categories: Cardiac Rhythm management, Chest Drainage/Thoracic Catheters, Electrodes, Endomechanicals, Exam gloves, I.V. Catheters, Pneumatic compression devices, Nasogastric Tubes, Sharps containers, Surgical Gloves, Surgical non-wovens, and Wound closure.