New Novation Capital Group Buys Help Hospitals Achieve Savings of Up to 82 Percent
IRVING, Texas, April 8, 2014 /PRNewswire/ -- Novation, the leading health care supply chain expertise, analytics and contracting company, announced the availability of new National Group Buys for the second quarter that enable health care organizations to save up to 82 percent on capital equipment purchases.
Novation, which serves the more than 100,000 members and affiliates of VHA Inc., UHC, Children's Hospital Association, and Provista, LLC, has helped hospitals save over $720 million on more than 45 major categories of equipment through its Group Buys program, which offers significant savings on key products and services on quarterly basis. In addition, since its inception in 2005, more than 3,500 organizations have purchased $3.3 billion of capital products through the program.
The current Group Buy agreements, effective through June 30, 2014, offer savings to members on a wide variety of products across 29 different categories including blood gas and reagents, C-Arms, chemistry/immunochemistry, coagulation, cold storage, cribs, CT scanners, CV suites, exam room equipment, furniture, hematology, general radiography, hemodynamic and electrophysiology monitors, lasers, mammography, meal delivery systems, micro ID sensitivity, MRI, MRI peripherals, nuclear medicine, O.R. lights and accessories, O.R. tables and accessories, patient beds, patient monitors, PET/CT, radiology fluoroscopy equipment, televisions, ventilators and ultrasound.
In addition, agreements for products were awarded to several suppliers including Philips Healthcare, Cardinal Healthcare, Dinex, Herman Miller, Invivo, Linet America, Lumenis, MDM Commercial Enterprises, Midmark Corp., NK Medical, Siemens Healthcare Diagnostics, and Skytron.
"Our suppliers consistently bring additional value to the broad range of members we serve. This quarter is no exception," said Mike Clemens, Vice President, Sourcing Operations, Capital, Construction and Imaging, Novation. "For example, we are now offering group buys on highly distributed capital. For the first time in the program, this quarter features an offer from Midmark, enabling members to receive a cash rebate after purchase on barrier-free exam tables."
About Quarterly Group Buys
The National Group Buys program aggregates member purchasing volume on a quarterly basis to maximize savings opportunities. The promotions typically provide members with double-digit cost saving opportunities on a wide range of product categories. The program also includes several value-added benefits offered by suppliers to health care organizations including incremental payment terms, reduced or free shipping, extended delivery terms, multimodality discounts, financing options and service discounts.
The quarterly Group Buys are one of several innovative programs from Novation designed to help members achieve even greater savings, including Standardization, NOVAPLUS, Pharmacy and the Committed Portfolio.
About Novation, Winner of the Ethics Inside® Certification
Founded in 1998, Novation is the leading health care supply chain expertise, analytics and contracting company for the more than 100,000 members and affiliates of VHA Inc. and UHC, two national health care alliances, Children's Hospital Association, an alliance of the nation's leading pediatric facilities, and Provista, LLC. Novation provides alliance members with sourcing services, as well as information and data services. Based in Irving, Texas, Novation develops and manages competitive contracts with more than 800 suppliers. Members of VHA, UHC, Children's Hospital Association and Provista used Novation contracts to purchase approximately $49 billion in 2013. Novation has earned the coveted Ethics Inside® Certification from Ethisphere Institute, a leading international think tank dedicated to the research and promotion of best practices in corporate ethics and compliance. Novation was also named on Ethisphere's World's Most Ethical Companies list and is the only company in the health care industry to earn both distinctions for three consecutive years. To learn more about Novation, please visit http://www.novationco.com and follow @NovationNews.