IRVING, Texas--(BUSINESS WIRE)--Vizient, Inc. announces the recognitions of 294 member health care organizations for demonstrating excellence in lowering supply chain costs. 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. The list of recognized members may be viewed here.
Since the Impact program’s inception in 1996, Vizient has delivered over $2.36 billion in rebate value to the hospitals it serves. One hundred percent of these rebates pass directly from the suppliers to participating hospitals. In 2020 alone, participants received $187 million in total cash rebates.
"Vizient members who participate in our Impact Standardization Program achieve even greater savings through improved procurement processes that the program facilitates," said Ashur Novick, senior director, program services. "The rewards are significant—ongoing cash rebates, reduction in product variation and optimal category pricing. There is no reason not to participate."
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 13 Impact programs
- Participation Recognition: participated in 12 non-food Impact programs and utilized a Vizient food and nutrition services agreement
“The Impact Standardization program incentivizes smart supply chain purchasing and contracting,” said Melanie Stone, executive director, clinical quality value analysis for Wellstar Health System. “With a diverse portfolio of products and suppliers that offers plenty of options, the program has helped us save money and increase efficiencies in our inventory management over multiple years. Working with Vizient through this program has made standardization more manageable.”
“Aspirus has participated in the Impact Standardization program for several years because we see results in supply chain efficiencies each year,” said Gary Rakes, vice president and chief supply chain officer at Aspirus. “In addition to saving money, we’re managing fewer vendors and product codes, and we’re rewarded with additional rebates. I’m proud of my team and happy once again to be recognized for Aspirus’ supply chain savings.”
About Vizient, Inc.
Vizient, Inc. provides solutions and services that improve the delivery of high-value care by aligning cost, quality and market performance for more than 50% 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 $110 billion in annual purchasing volume, to improve patient outcomes and lower costs. In 2021, Vizient acquired Intalere, which expanded its footprint with ambulatory and rural acute care providers. Vizient has earned a World’s Most Ethical Company designation from the Ethisphere Institute every year since its inception. Headquartered in Irving, Texas, Vizient has offices throughout the United States. Learn more at www.vizientinc.com.