Global medical supplier expected to deliver $1 million in cost savings in the first year
Mundelein, Ill., July 25, 2016
Growing pressure for hospitals to be more operationally efficient while also growing their top line revenue has led to strategic partnerships with suppliers. Because of Medline’s decades of supply chain expertise and ability to drive efficiencies, the global medical supplier has been awarded a five-year, $112 million prime vendor deal with UMass Memorial Health Care, the largest healthcare system in central Massachusetts.
Through this new distribution agreement, Medline provides six hospitals with an extensive portfolio of essential medical supplies and solutions to help standardize clinical products and enhance operational efficiencies. Additionally, through Medline’s online tool, INSIGHT, UMass Memorial has access to interactive dashboards to gain general and specific information about purchases, including total spend per month, item usage, pricing/contracting and price assurance. In the first year of the agreement, UMass Memorial is expected to realize a cost savings of $1 million.
While the prime vendor partnership is new, Medline has been a trusted supply chain partner to UMass Memorial providing essential self-manufactured products, such as custom procedure trays and exam gloves, for nearly five years.
“Medline is dedicated to providing customized solutions consisting of price assurance, inventory buy-back and lean methodology to drive hard dollar savings and develop a best-in-class supply chain model at UMass Memorial Health Care,” said Brian Mousseau, divisional vice president of sales at Medline.
Additionally, to help streamline perioperative supply management, Medline recently finished a comprehensive supply management program that included a Complete Delivery System (CDS) project at three UMass Memorial facilities. The four-part approach assessed supply management challenges and uncovered new opportunities to increase efficiency, reduce waste and deliver financial savings. As a result, over 200,000 annual supply items were compressed into 51 procedure supply modules and annual inventory touch points were reduced by 90 percent.
Learn more about Medline’s supply chain services.
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 Mundelein, Ill., the company offers 350,000+ medical devices and support services through more than 1,200 direct sales representatives who are dedicated points of contact for customers across the continuum of care. For more information on Medline, go to www.medline.com or http://www.medline.com/social-media to connect with Medline on its social media channels.
UMass Memorial Health Care
UMass Memorial Health Care is the largest not-for-profit health care system in Central Massachusetts with more than 12,900 employees and 1,670 physicians, many of whom are members of UMass Memorial Medical Group. Our member hospitals and entities include UMass Memorial – Clinton Hospital, UMass Memorial – HealthAlliance Hospital, UMass Memorial – Marlborough Hospital, UMass Memorial Medical Center and UMass Memorial – Community Healthlink, our behavioral health agency. With our teaching and research partner, the University of Massachusetts Medical School, our extensive primary care network and our cancer, diabetes, heart and vascular, orthopedic and surgery programs, UMass Memorial delivers safe, high-quality and compassionate care. Visit www.umassmemorialhealthcare.org.