Supply Chain

Though supply chain professionals are keenly aware of the importance of quality and cost, their clinical counterparts may not be as familiar with an organized movement to link these two components with patient outcomes.

As cost control initiatives take on increasing weight at hospitals and health systems, organizations must focus more intently on stemming the costs of medical device procurement.

A recent study paints 340B program participants in a negative light, suggesting that covered entities chase profits and experience windfalls rather than help patients. However, these assumptions are far from true.

There’s a great deal at stake in hospital sourcing and the management of medical supplies. A focus on lowering costs by standardized purchasing of drugs or devices can’t come at the expense of compromising high-quality care.

Variation is a scary concept for providers, whether you're talking about healthcare costs or outcomes of care delivery. It's inevitable, and part of the day-to-day routine for any hospital. But variation can put patients at risk, incur penalties and negatively impact a provider's reputation.

The ideal prescription for hospitals wanting to reduce their pharmaceutical costs could be tighter controls and staying on top of shortages.

The delivery of coronary artery stents is a procedure that affects over 1 million patients each year in the United States. With an aging population, the declining cost of stents and reimbursement tracking with the consumer price index (2-4 percent margins), the market for stenting continues to grow.

More than 80 percent of hospitals in the U.S. expect to be engaging in sustainability purchasing within two years, according to a recent survey. For the hospitals that expect to jump on the green bandwagon, there's a lot to learn.

The most successful hospital supply chain leaders are changing the usual conversations with clinical and administrative leaders into more meaningful collaboration by offering new, actionable insights through the use of business analytics.

The Centers for Medicare & Medicaid Services recent 10-year projection of national health expenditures includes retail spending on prescription drugs, but a more complete picture of pharma spending would include the nonretail segment.