Moody’s Analytics Provides Tool to Help Hospitals Evaluate PPE Suppliers
NEWS | For Immediate Release
NEW YORK, April 21, 2020 – Moody’s Analytics announced today the launch of a “Know Your Supplier” portal to help hospitals and other healthcare providers identify and screen suppliers of medical equipment and personal protective equipment (PPE). The coronavirus has prompted hospitals to expand their supply chains, creating an urgent need to quickly evaluate the credibility of new vendors. The portal helps accelerate vendor selection for procurement of vital supplies and is available to hospitals free of charge for the duration of the COVID-19 crisis.
“Hospitals are struggling to supply and protect their front-line staff during this crisis, and with so many new vendors in the market, sourcing PPE and other equipment has become a critical challenge. With this in mind, we developed this portal to help healthcare decision-makers more rapidly identify and qualify new suppliers,” said Rob Fauber, Chief Operating Officer of Moody’s Corporation. “We are honored to contribute our data and analytical capabilities to the medical community as they lead the fight against COVID-19.”
The portal lets users search extensive databases to ascertain whether potential suppliers and key associated individuals have a history of fraud or other illicit activity. Vendors are checked against a global database of “risk-relevant entities” so healthcare providers can screen out those that have been publicly associated with illegal or disreputable activities. Developed by RDC, which was acquired by Moody’s earlier this year, many financial institutions already use this data to help meet their “Know Your Customer” regulatory requirements.
Vendors are also checked against a database of more than 20 million small and mid-sized firms across the US and Canada that was created by Cortera, a leading provider of company reference data. This screen helps healthcare providers verify company information from a potential vendor before they enter the procurement process, saving valuable time during the crisis.
For more information, hospital and healthcare representatives should visit the Know Your Supplier portal.
The Know Your Supplier portal is part of Moody’s commitment to help leaders across industries make better decisions in the unprecedented COVID-19 environment. To learn more about Moody’s response to the coronavirus pandemic, please visit our Coronavirus blog.
Access Moody’s insight on the credit and economic impact of coronavirus free of charge on moodys.com/coronavirus.
About Moody’s Analytics
Moody’s Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs. For more information about Moody’s Analytics, visit our website or connect with us on Twitter and LinkedIn.
Moody's Analytics, Inc. is a subsidiary of Moody's Corporation (NYSE: MCO). Moody's Corporation reported revenue of $4.8 billion in 2019, employs approximately 11,100 people worldwide and maintains a presence in 40 countries.