Novation Applauds the IMS Institute for Healthcare Informatics for Calling Attention to the Drug Shortage Crisis Facing American Hospitals
IRVING, Texas, Nov. 14, 2011 /PRNewswire/ -- Novation commends the IMS Institute for Healthcare Informatics for highlighting the importance and raising awareness of the drug shortage crisis facing America's hospitals in its report titled, "Drug Shortages: A Closer Look at Products, Suppliers and Volume Volatility."
The paper, along with the President's October 31, 2011 Executive Order, is helping bring much-needed attention to the problem of drug shortages. In conjunction with the bipartisan legislation (S. 296 and H.R. 2245) currently pending in Congress, the increased focus and commitment will hopefully begin to establish a framework by which the quality and resiliency of the pharmaceutical supply chain can be improved.
Notably, the IMS report further demonstrates the dramatic impact the current crisis has had on the generic injectable market, particularly for critical oncology, anti-infective, cardiovascular, central nervous system, and pain management drugs. It also highlights how fluctuations in the supplier landscape can greatly impact the availability of medications. In addition, the report appears to have identified a new issue, an apparent variation in drug shortages by state, which should receive further consideration.
Novation has devoted multiple resources to help VHA and UHC providers manage drug shortages, which have become more severe in recent years. In addition to participating in national summits with other industry leaders, Novation provides financial support for the development of the drug shortage information alerts provided by the University of Utah Drug Information Center that are made available through the American Society of Health-System Pharmacists web site.
Novation also continues to work closely with the FDA, drug manufacturers, and other GPOs to help hospitals access necessary pharmaceuticals.
About Novation, Winner of the Ethics Inside® Certification
Founded in 1998, Novation is the leading health care supply contracting company for the more than 65,000 members of VHA Inc. and UHC, two national health care alliances, and Provista, LLC. Novation provides alliance members sourcing services, as well as information and data services. Based in Irving, Texas, Novation develops and manages competitive contracts with more than 600 suppliers. VHA, UHC and Provista members used Novation contracts to purchase nearly $40 billion in 2010. Novation recently earned the coveted Ethics Inside® Certification from the Ethisphere Institute, a leading international think tank dedicated to the research and promotion of best practices in corporate ethics and compliance, and is the only health care GPO to earn this distinction.
VHA Inc., based in Irving, Texas, is a national network of not-for-profit health care organizations that work together to drive maximum savings in the supply chain arena, set new levels of clinical performance and identify and implement best practices to improve operational efficiency and clinical outcomes. In 2010, VHA delivered record savings and value of $1.7 billion to members. Formed in 1977, VHA serves nearly 1,350 not-for-profit hospitals and more than 30,000 non-acute care providers nationwide, coordinating delivery of its programs and services through its 16 regional offices. VHA has been listed as one of the best places to work in health care by Modern Healthcare since 2008 and one of the best places to work in IT by Computer World since 2007.
UHC is an alliance of the nation's leading nonprofit academic medical centers, which are focused on delivering world-class patient care. Based in Chicago, Ill, UHC fosters collaboration with and among its 114 academic medical center and 255 affiliated hospital members through its renowned programs and services in the areas of comparative data and analytics, performance improvement, supply chain management, strategic research, and public policy. UHC helps its members achieve excellence in quality, safety, and cost-effectiveness. Formed in 1984, UHC's membership includes more than 90% of the nonprofit academic medical centers in the United States. For more information, visit uhc.edu.