Reduce Costs through Strategic Collaboration with Suppliers

Content Areas: Value Analysis | Tags: Capital Equipment, Procure to Pay, Suppliers | Formats: Event
Member Price: Free | Non-Member Price: $49 | CPE Credit: 1

In this panel discussion, provider and supplier leaders discuss how trading partners can engage in conversations involving TCO and shared risk by adopting best practices for the purchase of products and capital equipment. The panel will discuss what it takes to work together on the concept of by using those agreed upon approaches. Hear their diverse experiences as they identify the variables that make a successful partnership, where pitfalls can happen, and steps to overcome challenges.

Open conversations will increase transparency around TCO and help move the conversation from price to a more holistic approach that focuses on efficiency, and can ultimately reduce cost for both parties and have a positive impact on patient care.

Presented by AHRMM CQO sponsor

 Cook Medical

Learning Objectives

  • Identify the critical success factors in implementing TCO with a partner.
  • Use shared practices and tools to successfully collaborate with a partner to identify TCO.
  • Hold productive internal conversations on when it’s appropriate to properly evaluate partnerships and products for TCO.

How this Session Relates to the Cost, Quality, and Outcomes (CQO) Movement:

Collaborating with suppliers to identify the total cost of ownership to share risk can reduce costs by ensuring that all costs are taken into account up front, without receiving any budget surprises later. Accurate value analysis of each product improves quality of care with the identification of the exact needs of patients, and further, improving the likelihood of positive reimbursement outcomes. TCO is the first step in the conversation to achieve CQO.

Presenter: Gloria Graham, Clinical Materials Specialist Contracts & Value Analysis/Supply Chain Management, Cincinnati Children’s Hospital

Presenter: Mike Hughes, Vice President, Supply Chain Solutions , Cook Medical

Presenter: Richard Bagley, Senior Vice President and Chief Supply Chain Officer, Penn State Health Milton S. Hershey Medical Center

Presenter: Robin Lane, Senior Manager Value Analysis, Pensiamo