CLEVELAND--(BUSINESS WIRE)--Excelerate today announced that Valley Health System, located in Ridgewood, N.J., is expanding its relationship with Excelerate to include its complete clinical portfolio of physician preference items, surgical and specialty products and other clinical items to achieve immediate and sustainable savings. The new five-year agreement became effective Jan. 1, 2017.
Excelerate is a joint venture between Cleveland Clinic, Vizient, Inc., and OhioHealth designed to provide enhanced value to members by offering a unique, physician-driven and evidence-based approach to sourcing.
Valley Health System initially joined Excelerate in November 2015 to utilize its heart and vascular clinical portfolio. After realizing more than 20% in savings in that service line, Valley will now begin using all contracts for physician preference and clinical preference items in the portfolio.
According to Leonard R. Guglielmo, Assistant Vice President, Facilities, and Chief Supply Chain Officer, Valley Health System, “Excelerate has added value on a few different levels and we’ve saved over a million dollars a year on the cardiac portfolio. A key part of this initiative is that Excelerate is based on physician to physician communication. In addition, it’s designed so that the physicians are the ones that drive the decisions to use products that are the optimal balance between cost and patient outcomes.”
Excelerate’s provider-led, physician and clinician engaged sourcing model delivers significant savings to its members through:
- Execution of best-in-class contracts driving member value
- Peer-to-peer physician engagement that fosters clinical alignment and enables local change
- Utilization guidelines mapping to decreased clinical variation
“We couldn't be happier or more honored Valley Health has expanded their supply chain portfolio with Excelerate. The incredible impact we have made on standardization and clinical quality alignment further enhances the impressive savings we have realized,” said Sean Lyden, MD, Chief Medical Officer for Excelerate and Department Chair of Vascular Surgery for Cleveland Clinic. “Valley Health represents a progressive organization with strong leadership and the fortitude to continue to grow and enhance our trusted platform of best-in-class contracts while driving supply chain operating and clinical best practices.”
Excelerate is designed to deliver significant and substantial savings to health care organizations through a provider-led, physician-engaged sourcing company. Excelerate achieves this through executing data-driven, market-leading contracts, clinical utilization guidelines designed to decrease clinical variation, and providing peer-to-peer physician engagement that fosters clinical alignment enabling local change. Excelerate started in 2013 as a joint venture between Cleveland Clinic and Vizient, Inc. In 2016, OhioHealth was added as an equity owner and member. Click here to learn more about Excelerate.
About Valley Health
The Valley Hospital, a 451-bed, acute care, not-for-profit hospital located in Ridgewood, NJ, is part of Valley Health System, which also includes Valley Home Care and Valley Medical Group. Valley is the recipient of numerous awards and recognitions. These include Gold Seals of Approval from the Joint Commission in 14 clinical areas, including six for cancer care, more than any other hospital in the nation. Valley has also been recognized by Healthgrades as one of America’s 100 Best Hospitals for Orthopedic Surgery and with excellence awards for cranial neurosurgery and stroke. Valley has also been honored three times with “Magnet” designation – the nursing profession’s highest honor. Valley is a cardiovascular affiliate of the Cleveland Clinic Heart and Vascular Institute, and an academic and clinical affiliate of the Mount Sinai Health System. Key services include cardiology, oncology, women’s and children’s services, emergency care, orthopedics, and neurosciences.
For more information please visit www.ValleyHealth.com