Hospital and health system leaders have a new resource for initiating the multidisciplinary collaboration and organization-wide acceptance that is needed to meet their value-based goals. The Healthcare Supply Chain: Best Practices for Operating at the Intersection of Cost, Quality, and Outcomes provides guidance for how supply chain professionals can offer more meaningful value to their organizations by expanding their focus beyond product costs to examine all healthcare delivery costs and their correlation to care quality and financial outcomes—known as operating at the intersection of CQO.
The book reflects the collective expertise of Acurity, Inc. and Nexera, Inc., a healthcare group purchasing organization and healthcare consulting company, respectively.
The book expands on the information in the 2015 first edition, Healthcare Supply Chain at the Intersection of Cost, Quality, and Outcomes, through easy-to-follow diagrams, best practices, key performance indicators, and case studies. It is accompanied by the Hospital Supply Chain Performance Self-Assessment™, a free online tool created by Nexera’s subject matter experts. The assessment has been updated with the release of the new book to incorporate the latest standards that supply chain professionals are being held to (such as an increased focus on quality and high reliability) so that professionals can more accurately benchmark their performance based on today’s clinical and economic environment.
“In a value-based environment, hospitals must evaluate the clinical effectiveness of a device compared to its functional equivalent by examining the outcomes of the procedures in which each has been used. Providers might see a greater financial return by using a device that is more expensive at the outset if there is evidence that it is connected to better patient outcomes,” said Christopher O’Connor, Acurity and Nexera President and the book’s Consulting Editor. “Supply chain executives sit at the center of purchasing decisions and work across disciplines. This makes them particularly well-suited to lead multidisciplinary initiatives that are focused on making more informed purchasing decisions that lower providers’ operating costs while improving patient care.”
The book is a first step toward improving performance by better understanding what constitutes best practice for supply chain operations in a patient-centered healthcare environment. The next step in the pursuit of CQO is for hospital leaders and supply chain executives to consider where their department stands by identifying areas of strong performance and potential improvement. The Hospital Supply Chain Performance Self-Assessment was developed for this purpose.
O’Connor added, “A new year is an excellent time to reflect on our current state and future ambitions. A hospital’s ability to take a more strategic approach to product selection, looking for the best value rather than simply the lowest price, begins with the supply chain. I firmly believe that supply chain professionals have never been more important or in a better position to make a positive impact on healthcare and patients’ lives. Acurity and Nexera have created this book to provide the industry with guidance on how the supply chain can achieve optimal performance in all of its functions in order to lead the successful and sustainable advancement of CQO-based decision-making across a healthcare organization.”
About Acurity, Inc.
Acurity is an organization of healthcare professionals committed to helping providers deliver better care and reduce operating expenses through enhanced supply chain performance. Acurity has combined a regional contracting program with the power of national aggregation through its affiliation with Premier to deliver a best-in-class purchasing portfolio. Acurity’s leading industry experts identify data-driven methods that optimize hospital and health system resources to improve both quality and the bottom line.
About Nexera, Inc.
Nexera delivers solutions tailored to improve hospital and health system performance. Using a value-driven approach that ties total costs and patient outcomes with financial reimbursements, Nexera designs engagements around each client’s resources and business culture, ensuring that services generate sustainable results and foster system transformation.