Sole Connecticut Healthcare Facility Cited for Maximizing Purchasing Value
(Hartford, Conn. June 11, 2014) – Saint Francis Hospital and Medical Center has received Premier, Inc.’s Supply Chain Excellence Award for superior supply expense performance.
Saint Francis is one of 35 Premier members to receive this national award this year, and the only healthcare facility in Connecticut to be honored. Premier, a leading healthcare improvement company, unites an alliance of approximately 3,000 U.S. hospitals and 110,000 other providers.
“Achieving and sustaining strong supply chain performance is essential to a healthy bottom line to ensure that the health needs of our community are met,” said Christopher M. Dadlez, President and Chief Executive Officer, Saint Francis. “This award recognizes our outstanding efforts in transforming healthcare to optimal levels of performance.”
“Supply costs represent a significant portion of our expenses,” said David Walsh, Administrative Director of Supply Chain, who accepted the award at Premier’s 2014 Breakthroughs Conference and Exhibition in San Antonio, TX. “We are always looking for new ways to manage expenses while continuing to provide exceptional patient care.”
Over the course of the past fiscal year, Saint Francis has realized savings of approximately $7 million by working closely with vendors to reduce costs across the facility. In addition, the Hospital’s Purchasing Department has implemented a Value Analysis Team that looks at different cost-saving initiatives and makes decisions based on patient outcomes and cost effectiveness. The team is comprised of physicians, nurses and representatives from Purchasing and is chaired by a physician.
“Saint Francis has bridged the gap between clinical and supply chain making a synergistic environment that inspires the team to think ‘outside the box’,” said Joey Westphal, Senior Performance Partner at Premier. “This approach has brought a team/patient mentality that has made us take notice of the team’s exceptional work.”
Supply expense performance is measured by SupplyFocus®, the industry’s largest comparative database of operational and supply chain cost information for acute care hospitals. Winners were identified using four industry standard supply expense ratios and a case-mix-index-based peer grouping methodology to ensure that organizations of diverse sizes and complexity were considered equally.
Supply expense ratios include: supply expense as a percent of total operating expense; supply expense as a percent of net patient revenue: supply expense per adjusted patient day; and supply expense per adjusted discharge.
To be eligible, each organization had to submit four quarters of calendar 2013 data to SupplyFocus. With 40 indicators measuring and trending performance in cost and operations, SupplyFocus enables hospitals to compare supply expense performance to that of similar facilities and identify improvement opportunities.
“Saint Francis is continuously advancing their supply purchasing strategies and collaborating to share best practices that support Premier alliance members,” said Durral R. Gilbert, president of supply chain services, Premier. “We are happy to present them with this honor as they work to provide high-quality and cost-effective care in their community.”
About Premier, Inc.
Premier, Inc. is a leading healthcare improvement company, uniting an alliance of approximately 3,000 U.S. hospitals and 110,000 other providers to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and advisory and other services, Premier enables better care and outcomes at a lower cost. Premier, a Malcolm Baldrige National Quality Award recipient, plays a critical role in the rapidly evolving healthcare industry, collaborating with members to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide. Headquartered in Charlotte, N.C., Premier is passionate about transforming American healthcare. Please visit Premier’s news and investor sites on www.premierinc.com; as well as Twitter, Facebook, LinkedIn, YouTube, Instagram, Foursquare and Premier’s blog for more information about the company.
About Saint Francis Care
Saint Francis Care is an integrated healthcare delivery system established by Saint Francis Hospital and Medical Center, an anchor institution in north central Connecticut since 1897. Licensed for 617 beds and 65 bassinets, it is a major teaching hospital and the largest Catholic hospital in New England. Other major entities of Saint Francis Care include The Mount Sinai Rehabilitation Hospital, the Connecticut Joint Replacement Institute, the Hoffman Heart and Vascular Institute of Connecticut, the Saint Francis/Mount Sinai Regional Cancer Center, the Joyce D. and Andrew J. Mandell Center for Comprehensive Multiple Sclerosis Care and Neuroscience Research, and Saint Francis HealthCare Partners. Johnson Memorial Medical Center, parent organization of Johnson Memorial Hospital, Evergreen Health Care Center, and Home and Community Health Services is also a Saint Francis Care Partner. Saint Francis Care’s services are supported by a network of five major Access Centers and eight additional medical office centers sited throughout the region. For more information, visit www.stfranciscare.com.