Novation Recognizes More than 150 Hospitals and Health Networks for Achievements in Standardization

IRVING, Texas, Sept. 26, 2013 /PRNewswire/ -- Novation, the leading health care supply chain expertise, analytics and contracting company for the 65,000 members and affiliates of VHA Inc., UHC, Children's Hospital Association, and Provista LLC, recognized more than 150 hospital organizations across the U.S. who demonstrated excellence in lowering health care costs through the use of standardization programs.

Novation honored organizations in two key categories: 

• Participation Leaders: 97 hospitals that used all 11 of Novation's standardization programs; and
• Executive Savings Leaders: 99 hospitals that saved more than $250,000 in rebates.

Approximately 20 percent of VHA and UHC health care organizations were recognized for successfully implementing all Novation's Standardization Program product offerings or gaining more than $250,000 in rebates and significant cost savings. 

"On top of lower supply costs and cash rebates, participating hospital members also gained the Novation productivity and efficiency bump," said Kathy Harlan, senior director, Standardization Programs, Novation. "Reducing variation and the number of non-clinical preference products used, standardization drives efficiencies in ordering, streamlines inventory management and lowers product training and support costs."

Novation has been helping its members drive down costs through standardization since 1996.  In addition to working with suppliers for products at lower costs, the program also offers cash rebates to members. Since the program's inception, Novation has paid more than $1 billion to members in rebates alone.

Following is a list of the organizations and the awards:

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 65,000 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 600 suppliers. VHA, UHC, and Provista members used Novation contracts to purchase approximately $43 billion in 2012. Novation 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. To learn more about Novation, please visit www.novationco.com and follow @NovationNews.

SOURCE Novation

RELATED LINKS
https://www.novationco.com