GHX Reaches Major “5-in-5” Milestone by Surmounting $3 Billion in Healthcare Supply Chain Savings | GHX
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GHX Reaches Major “5-in-5” Milestone by Surmounting $3 Billion in Healthcare Supply Chain Savings

GHX Furthers Mission to Drive Costs Out of Healthcare with Diverse, Educational Sessions at Upcoming Healthcare Supply Chain Summit
Louisville, CO - Tuesday, April 02, 2013 -

GHX and its supplier and provider customers have surpassed $3 billion in supply chain savings for the North American healthcare market. This is a major milestone in the company’s “5-in-5”goal, which aims to take $5 billion out of the cost of healthcare during the five year program, ending December 31, 2014. By running supply chain processes more efficiently and collaboratively, GHX and its customers are leading the charge in transforming the healthcare industry by reducing costs and helping providers deliver cost-effective, high quality patient care.

GHX has long been an advocate for supply chain collaboration and transparency among healthcare trading partners to reduce costs, increase efficiencies and free-up time, money and resources to focus on the patient. As the second largest and fastest growing expense for healthcare organizations, the supply chain is both a challenge and major opportunity for healthcare firms. That is why a large focus of the upcoming Healthcare Supply Chain Summit, May 20-22 in Las Vegas, is devoted to the topic of driving costs out of healthcare. Some sessions include:

  • Cost-to-Serve: Making it Real for Your Organization: Supply chain executives from McLeod Health, Symmetry Surgical and Zimmer will discuss the Cost-to-Serve (CTS) approach to help manage supply chain processes more efficiently and ensure they are contributing value to the business. The panel will also explore how trading partners can work together to reduce costs through collaboration.
  • Supply Chain Levers for Reducing Costs: Medical University Hospital Authority (MUHA) will share how it raised the profile of its supply chain to that of a strategic business initiative to help reduce operational costs while supporting new clinical and revenue-integration initiatives.
  • How Do You Take the Lead? Best Practices for Providers: Hackensack University Medical Center is widely recognized for driving performance at the highest level among GHX customers. The team will explain how it moved from a ranking of 441 among GHX provider accounts to the top 10 by accelerating supply chain performance and reducing operating costs.
  • How Do You Take the Lead? Best Practices for Suppliers: W.L. Gore will walk through how it reduced exceptions on orders its customer service team had to “touch”– saving resource time and reducing costs by leveraging the supply chain to achieve the “touchless order.”

 

Additionally, Mark Laret, CEO of UCSF Medical Center, will present a keynote speech entitled, “Achieving Excellence Across the Organization: A CEO Perspective on Driving Change.”Laret runs one of the most distinguished healthcare institutions in the world, not only recognized for its patient care, but also for its supply chain excellence. Last year, UCSF Medical Center was honored with the GHXcellence Provider of the Year and Most Impactful Provider Awards. In his keynote, Laret will discuss how UCSF reversed a $60 million annual loss and, within five years, produced a $70 million annual gain.

“At GHX we live, eat and breath healthcare supply chain, so hitting the $3 billion mark for savings is an inspiring accomplishment,”said Derek Smith, Chief Commercial Officer, GHX. “The Healthcare Supply Chain Summit is a testimony to how trading partners are thinking differently and working to create deeper, more meaningful relationships to ultimately reduce the cost of healthcare and focus on the patient. That’s the future of healthcare.”

The entire Healthcare Supply Chain Summit agenda can be viewed here. Follow the conference action in real-time by visiting the Healthcare Hub blog or following #GHX13 on Twitter.

About GHX
Global Healthcare Exchange, LLC (GHX) is driving costs out of healthcare by transforming the healthcare supply chain. Working with providers and suppliers, GHX is accelerating change by providing a faster, more efficient and collaborative supply chain that will take billions of dollars out of the cost of healthcare. For more information, visit www.ghx.com and The Healthcare Hub

 

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GHX Reaches Major “5-in-5” Milestone by Surmounting $3 Billion in Healthcare Supply Chain Savings