3 Foundational Pillars of Supply Chain Risk Sharing
By Medline Newsroom Staff | October 22, 2019
How two organizations built a revolutionary risk-based partnership.
True healthcare innovation requires looking beyond the status quo. What all would be it possible if a hospital system and the business that “sells” to it sat on the same side of the table?
That’s the question Geisinger and Medline asked when they formed a first-of-its-kind outcomes –based partnership in 2018. Together, the companies created a new type of economic model, one that mimics the value-based reimbursement structure under which many hospitals are now being paid. The organizations identified 3 foundational pillars that would support this new type of partnership:
- Supply chain – Complete redesign to drive down costs and improve service
- Formulary- Standardized core medical-surgical products supporting updated policies
- Quality – Processes, protocols and education to improve outcomes and reduce “never events”
“In a week it will be a year to the day that we set the challenge to disrupt our business as we know it,” Deb Templeton, chief of system support services at Geisinger, said. “This program will cause alignment to move from supplier and provider to a partnership forged in the name of improved care for patients… This is what it feels like to make history.”
Interested in learning more about this risk-based partnership? Read the full white-paper here.