Blog

Survey says…

Survey says…

Utilization of supplies is a problem in the majority of health organizations, according to a study of 306 clinicians and hospital supply chain decision makers by Cardinal Health. Three out of four supply chain VPs/managers, nurse managers, nurses, and purchasing...

Savings Beyond GPOs

Savings Beyond GPOs

The Healthcare Supply Chain Association (HSCA) commissioned a study on the cost savings and analysis of the group purchasing industry. “GPOs generate savings by reducing costs across sales and supply chains to providers using economies of scale, increased...

Is Blockchain a Cure?

Is Blockchain a Cure?

PYMNTS.com interviewed H-Source CEO John Kupice on how healthcare supply chain could use blockchain to save money and improve efficiencies. Healthcare supply chain wastes about $25B a year, or about $11M per facility. The waste is caused by a variety of factors, like...

Blockchain in Healthcare

Blockchain in Healthcare

Blockchain has the potential to make healthcare supply chain processes more efficient, improve transparency, and streamline experiences. Faced with declining reimbursements and rising costs, hospitals are focusing on healthcare supply chain to make improvements, to...

Blockchain and the ASC Supply Chain

Blockchain and the ASC Supply Chain

Blockchain holds significant potential for ASCs to implement new strategies that reduce costs. The chain of custody tracking of products from production to the patient opens the possibility of direct access to products such as generic drugs. While blockchain in...

Q&A with H-Source CEO

Q&A with H-Source CEO

A Navigant study found that healthcare supply chain wastes around $25 billion a year, or about $11 million per facility. At the same time, profit margins have been steadily trending down and supply chain costs are set to overtake labor costs as the number one overall...

Colorado Hospitals Sell, Trade Legacy Devices

Colorado Hospitals Sell, Trade Legacy Devices

An article in Healthcare IT News highlights an agreement between H-Source Inc. and the Colorado Hospital Association that helps hospitals sell and trade legacy devices. The program has been successful in helping hospitals across Colorado to recoup costs and cut down...

Three Keys to Supply Chain Efficiency

Three Keys to Supply Chain Efficiency

An efficient supply chain drives higher quality of care and lowers costs on a system level. In a recent article from Becker’s Hospital Review, they cite 3 major ways you can improve your supply chain efficiency: logistics solutions, procedural kitting solutions,...

Saving Money Doesn’t Mean Sacrificing Quality

Saving Money Doesn’t Mean Sacrificing Quality

Hospitals often associate saving money on supply chain expenditures with lower quality of care, when in all actuality the opposite is true. According to a report by Navigant in NAVIGANT’S 2018 SUPPLY CHAIN ANALYSIS, “Hospital-acquired condition and value-based...

Supply-chain-tips

Supply-chain-tips

One great way to save money in supply chain is to analyze what products are being used and why. Armed with this data, you can collaborate with physicians to standardize products and reduce the number of alternatives you keep in inventory. Alternate sourcing can also...

What’s Coming in 2019?

What’s Coming in 2019?

With the healthcare environment what it is – small margins, rising costs, and plenty of complexity – what will 2019 bring? The not-so-great news is this probably isn’t going to get any easier. We’ll see more hospital closures due to financial performance. We’ll see...

Collaboration Can Save Billions

Collaboration Can Save Billions

“A 2013 McKinsey report suggested five specific supply chain capabilities that can have a dramatic impact on performance and profitability, with an estimated $130 billion opportunity in cost savings across the value chain. […] More than 70 percent of healthcare supply...

Supply Chain Margins Tighter Due to Tariffs

Supply Chain Margins Tighter Due to Tariffs

Margins in hospitals across America are tight, and it appears that due to recent trade issues those margins are going to get even tighter. According to the American Hospital Associations Executive Vice President Thomas Nickels, “recent tariffs are estimated to...

Juggling Opposing Objectives

Juggling Opposing Objectives

Maintaining contract compliance while allowing access to infrequently used items is a juggling act. Too much structure doesn’t allow for the variables and unpredictable nature of healthcare. Too little standardization leads to waste and less control. Flex and adapt....

Transform from Transactional to Strategic

Transform from Transactional to Strategic

Declining margins fueled by smaller reimbursement rates and increasing supply chain costs are forcing a change in how we view supply chain. “The role of supply chain must shift from a transactional model to a strategic model with an emphasis on increasing C-suite...

Supply Chain Predictions for 2019

Supply Chain Predictions for 2019

Given that margins are tight and getting tighter and healthcare supply chain is set to surpass labor as the number one cost for hospitals by 2020, plenty of changes are brewing for 2019. We’ll start to see a shift from viewing supply chain merely as transactional, to...

2018 Was A Year Of Change

2018 Was A Year Of Change

From policy changes to vertical and horizontal consolidations to the debut of new technologies, our healthcare industry saw many changes in 2018. Cost containment continues to be a top priority for healthcare facilities facing levelling admissions, accelerating...

Healthcare Supply Chain as a Change-Maker

Healthcare Supply Chain as a Change-Maker

The healthcare system is complicated, fragmented, and lacks standardization in areas where technology and collaboration are key.  This is especially true in supply chain, where despite GPOs, joint contracting, electronic systems, and a myriad of other would-be...

A Green Solution x2

A Green Solution x2

Supply chain has the potential to be a multibillion-dollar hero in healthcare. With hospital bankruptcies up and margins down, a study by Navigant shows hospitals are spending $25.4B more a year on supply chain than they need to. Analysis shows “hospitals could safely...

Supply chain…a revenue center?

Supply chain…a revenue center?

As margins continue to trend down for hospitals across the country, supply chain costs are predicted to exceed labor costs by 2020. Dan Pak, Assistant Vice President at Nexera, said, “Given the changes in the market, the role of supply chain must shift from a...

Is your facility at financial risk?

Is your facility at financial risk?

Too many healthcare facilities are closing or are in danger of closing, especially in the rural south and northeastern areas of the United States. According to a study published by the North Carolina Rural Health Research and Policy Analysis Center, 120 rural...

How CVS/Aetna Will Affect Supply Chain Operations

How CVS/Aetna Will Affect Supply Chain Operations

CVS’ acquisition of Aetna for $70B will be transformative to healthcare. A successful integration of these two prominent organizations will usher in a new healthcare model, much-needed innovation intended to lower costs and offer quality healthcare when and where...

New Opportunities for Supply Chain

New Opportunities for Supply Chain

John Kupice, CEO of H-Source, was recently interviewed by Future Tech Podcast on the new opportunities medical facilities have to reduce financial waste in supply chain while providing quality healthcare to their communities. In the U.S., we waste an estimated $10B in...

Leveling The “Paying” Field

Leveling The “Paying” Field

Contract negotiations can make or break a healthcare facility in terms of business viability and profitability. Whether you are for-profit, nonprofit, governmental or private, the general idea is to, at the very least, cover fixed costs and avoid negative margins. But...

Flu Season is in Full Effect

Flu Season is in Full Effect

Flu season is in full effect. Are you ready? The CDC estimates between 9.2 million and 35.6 million flu illnesses each year in the United States. While getting a flu shot is suggested, some people are too late to get it and may eventually get sick. In years past, we...

Cost Control And Collaboration

Cost Control And Collaboration

In an ideal world, a hospital would purchase only the products it needs and use every product it purchases. Unfortunately, we do not live in an ideal world, and every day, hospitals and surgery centers throw away expiring inventory that could have been used by another...

Excess Waste in Healthcare?

Excess Waste in Healthcare?

Is there any other sector or industry where wasting 25% of expenses is even remotely acceptable? I can’t think of one. Yet that’s our healthcare system in the U.S., and at a time when rural hospitals are closing, hospital profit margins are razor thin, and too many...

Win for Consumers: Increase in Generic Pharmaceuticals

Win for Consumers: Increase in Generic Pharmaceuticals

Having troubles finding certain medications? The FDA has implemented the Drug Competition Action Plan. This plan means that certain brand name medications with no listed patents or exclusivities, are now encouraged to develop generic alternatives. The FDA will also...