NORTHFIELD, Ill., Jan. 14, 2019 /PRNewswire/ -- A recent industry report suggests hospitals are leaving roughly $24 billion in untapped supply chain savings on the table each year. For academic healthcare organizations that combine all supply purchasing and contracting for academic institutions and health systems like the University of Missouri (UM) System that serves MU Health Care, identifying deep savings can't be done alone.
In less than a year after UM System Supply Chain selected Medline as its strategic business partner, it is now on pace to save a projected $14.7 million over the course of the seven-year relationship.
"Partnering with one prime vendor across our entire supply chain, particularly where our academic campuses and MU Health Care intersect, helps our entire system collaborate as a single unit," says Tony Hall, assistant vice president and chief procurement officer, UM System Supply Chain. "Medline has identified gaps and opportunities for growth that will help us today and into the future."
Preliminary savings are attributed to improved price accuracy and fill rates, utilizing on-site analysts and sales specialists, and enhanced standardization. Additionally, being a manufacturer and distributor allows Medline to co-create with customers to develop unique solutions that make financial and clinical sense.
"The UM System is expanding beyond the traditional supplier-provider distribution relationship," says Marc Phillips, corporate sales vice president, Medline. "From customized solutions for branded kits in labor and delivery, to reimagining how the supply chain can be leveraged in new ways, forward-thinking organizations must evolve."
Learn more about Medline's distribution capabilities across the continuum of care at www.medline.com/pages/supply-chain.
Medline is a global manufacturer and distributor serving the healthcare industry with medical supplies and clinical solutions that help customers achieve both clinical and financial success. Headquartered in Northfield, Ill., the company strategically supports nearly a third of the largest healthcare systems in the United States as an exclusive prime vendor and has experienced year-over-year distribution growth for more than a decade. Customers across the continuum of care have access to 550,000+ medical devices and support services through more than 1,600 dedicated sales representatives. Learn more about Medline at www.medline.com.
About MU Health Care
MU Health Care is an academic health center that trains future health care professionals to provide advanced, patient-centered care. It is also home of groundbreaking University Hospital, located in Columbia, which officially became an academic health system in 1952. Specialty areas include the area's only Level I Trauma Center, orthopedic surgery, comprehensive cancer care and kidney transplantation. For more information on MU Health Care, go to https://www.muhealth.org/.