Reduce Costs through Strategic Collaboration with Suppliers

Publish Date: January 04, 2019 | Content Areas: Value Analysis | Tags: Capital Equipment, Procure to Pay, Suppliers | Formats: On-Demand Recording

Member Price: Free | Non-Member Price: $49
CPE Credit: 1

Overview

Although suppliers and providers may have hesitations and barriers to a partnership approach, it is possible to collaborate on total cost of ownership (TCO) – provided the right mechanisms are put into place at the start.

Learn from the diverse experiences of expert provider and suppliers in the field 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 courtesy of AHRMM CQO sponsor

 Cook Medical Logo

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 and 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, Healthcare Business 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

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