IRVING, Texas--(BUSINESS WIRE)--Vizient, Inc. has recognized 234 member hospitals that have demonstrated excellence in lowering costs through the use of the company’s Impact Standardization Program. Over the course of 2017, the program delivered over $181 million in total cash rebates to participants.
“The Vizient Impact Standardization Program is an effective, time-proven benefit that helps members achieve their goals for product standardization and lowering supply cost,” said Ashur Novick, senior director, program services, for Vizient. “By reducing supply variation across locations, hospitals lower costs across their system and ease inventory management while still providing their clinicians access to high-quality products.”
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 Certificate: participated in 11 non-food Impact programs and utilized a Vizient food and nutrition services agreement
“Often when you come into contact with these types of programs the thought is they will only offer products from no-name brands. That is not the case with this program and participation is a no-brainer for our organization. Our clinicians really appreciate that the products are from recognized manufacturers and are high quality which makes transitions easy. We are able to use it not only as a tool to generate cost savings but also to streamline vendor selection,” said Brian Dolan, system director, supply chain at The University of Kansas Health System.
The complete list of hospitals and health systems recognized for their achievements in 2017 can be viewed here.
Vizient has been an industry leader in helping providers drive down costs through standardization since 1996. Since the program’s inception, Vizient has paid over $1.8 billion in rebate value to the members it serves.
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 approximately $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 2018, 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.