IRVING, Texas--(BUSINESS WIRE)--Vizient, Inc. applauds the Senate for passing the FDA Reauthorization Act of 2017 and appreciates the bipartisan work of Congress in reauthorizing legislation that will help ensure our nation’s drug supply is safe and effective while continuing to encourage innovation.
Numerous market dynamics continue to contribute to the challenge of managing hospitals’ and health systems’ pharmacy expenses. One frequently cited cause of price spikes and drug shortages is lack of competition, and this legislation will provide priority review for abbreviated new drug applications where there are three or fewer generic alternatives available.
Vizient has long supported efforts to help increase innovation and competition, and this is an important step in the right direction.
Vizient is the nation’s largest health care performance improvement company serving a diverse membership that includes academic medical centers, pediatric facilities, community hospitals, integrated health care delivery networks and non-acute health care providers.
About Vizient, Inc.
Vizient, Inc., the largest member-driven health care performance improvement company in the country, provides innovative data-driven solutions, expertise and collaborative opportunities that lead to improved patient outcomes and lower costs. Vizient’s diverse membership base includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute health care providers and represents more than $100 billion in annual purchasing volume. The Vizient brand identity represents the integration of VHA Inc., University HealthSystem Consortium and Novation, which combined in 2015, as well as MedAssets’ Spend and Clinical Resource Management (SCM) segment, including Sg2, which was acquired in 2016. In 2017, Vizient again received a World’s Most Ethical Company designation from the Ethisphere Institute. Vizient’s headquarters are in Irving, Texas, with locations in Chicago and other cities across the United States. Please visit www.vizientinc.com as well as our newsroom, blog, Twitter, LinkedIn and YouTube pages for more information about the company.