IRVING, Texas, Dec. 5, 2022 – Vizient, Inc. has recognized 320 member health care organizations for demonstrating excellence in lowering costs in their supply chain. Through the Impact Standardization Program, these hospitals streamlined their purchasing practices in designated product categories, earning rebates and in many cases attaining lower pricing from manufacturers.
Since the Impact program's inception in 1996, Vizient has delivered over $2.2 billion in rebate value to the hospitals it serves. One hundred percent of these rebates pass directly from the suppliers to participating hospitals. In 2021 alone, participants received $214 million in total cash rebates.
"Vizient member providers delivered outstanding results this year," said Melissa Lyon, senior director, program services, Vizient. "After a difficult two years caused by the pandemic and global supply chain disruptions, healthcare organizations who participated in the Vizient Impact Standardization Program have found relief in the savings the program enables, and they can apply it to where it matters most: patient care."
Vizient recognized the results of Impact Standardization Program participants in three categories:
- Executive savings: earned at least $250,000 in rebates through Impact programs.
- Participation leader: participated in and earned rebates in all 12 Impact programs.
- Participation award: participated in 11 non-food Impact programs and utilized a Vizient food and nutrition services agreement.
"The decision to participate in the Vizient Impact Standardization Program is well worth it," said Sheri Dodson, director, purchasing for North Mississippi Health Services. "The program incentivized my team to reduce variation, which led to improved efficiencies and reduced costs. In addition to those benefits, we were further rewarded with rebates. I'm so proud of my team for their achievements in this worthwhile program."
Vizient has been an industry leader in helping providers drive down costs through standardization since 1996. The complete list of hospitals and health systems recognized for their 2022 achievements can be viewed here.
About Vizient, Inc.
Vizient, Inc., the nation's largest health care performance improvement company, serves more than 60% of the nation's acute care providers, which includes 97% of the nation's academic medical centers, and more than 20% of ambulatory care providers. Vizient provides expertise, analytics and advisory services, as well as a contract portfolio that represents more than $130 billion in annual purchasing volume. Vizient's solutions and services improve the delivery of high-value care by aligning cost, quality and market performance. Headquartered in Irving, Texas, Vizient has offices throughout the United States. Learn more at www.vizientinc.com.