This document summarizes the preliminary findings from Phase 1 of McKesson Strategic Supply Sourcing's analysis of Wheaton Franciscan Healthcare's spending data. The analysis identified $3.6 million in potential annual savings opportunities, including $900,000 from price and product variances. Specifically, it found that some items were purchased up to 5 times at different prices due to a large spend on non-contracted items. The analysis also uncovered $5 million in spend where the purchase order did not match the invoice. Additional savings are expected to be identified in the later phases by standardizing products and vendors, reducing distribution fees, and analyzing lab and pharmacy blanket orders.
Clinical Trial Supply and Logistics Market for Pharma 2018-2028 pharmaceutica...Visiongain
For a report overview of this report please contact sara.peerun@visiongain.com
(+44 (0) 20 7336 6100) or refer to our website: https://www.visiongain.com/Report/2112/Clinical-Trial-Supply-and-Logistics-Market-for-Pharma-2018-2028
Clinical Trial Supply and Logistics Market for Pharma 2018-2028 pharmaceutica...Visiongain
For a report overview of this report please contact sara.peerun@visiongain.com
(+44 (0) 20 7336 6100) or refer to our website: https://www.visiongain.com/Report/2112/Clinical-Trial-Supply-and-Logistics-Market-for-Pharma-2018-2028
This powerpoint presentation was made by Jennifer McEntire, Ph.D, with the Institute of Food Technologists to the joint FDA/FSIS meetings held in Washington D.C. on December 9 & 10 regarding traceability for produce.
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Free medicines are available through the pharmaceutical companies’ Patient Assistance Programs (PAPs), which may be accessed for individual prescriptions using The Pharmacy Connection (TPC) software or through a bulk replacement / Institutional PAP. Learn about Rx Partnership, Virginia’s innovative bulk replacement program.
This powerpoint presentation was made by Jennifer McEntire, Ph.D, with the Institute of Food Technologists to the joint FDA/FSIS meetings held in Washington D.C. on December 9 & 10 regarding traceability for produce.
Security Of The Pharmaceutical Supply Chain - Part 4b: The Pharmaceutical Ind...Stuart Silverman
Security Of The Pharmaceutical Supply Chain - Part 4b: The Pharmaceutical Industry Relies Heavily On Sourcing From India & China – India Segment
SPECIAL FOCUS - The environment as a risk to the supply chain.
Healthcare Supply Chain Management in the USLevi Shapiro
Healthcare Supply Chain Management in the US, presentation by Robert Burkholder, SVP Supply Chain, Jefferson Health System. Delivered on May 11, 2021 for mHealth Israel. Includes an overview of Jefferson, organization chart for Supply Chain Management department, overview of financing Healthcare in the US, discussion about M&A in the US healthcare providers sector, description of how Payers, Providers and Supliers are chasing scale, Jefferson's merger timeline, approach toward Integrating Legacy Supply Chain Departments, breakdown of the Fragile Global Supply Chain, efforts toward Supply Chain Resiliency, Value analysis in the healthcare supply chain, Enterprise Value Analysis, Strategic Sourcing and Purchasing, strategic sourcing model, Sourcing Prioritization Pipeline, Proposed prioritization map, Sourcing Prioritization Matrix, Advanced Analytics
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Waste in hospitals - everywhere - is massive. Up to 50% of consumables and devices purchased are never used on a patient. Support activities are highly manual, repetitive and done by professional clinical staff...
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Free medicines are available through the pharmaceutical companies’ Patient Assistance Programs (PAPs), which may be accessed for individual prescriptions using The Pharmacy Connection (TPC) software or through a bulk replacement / Institutional PAP. Learn about Rx Partnership, Virginia’s innovative bulk replacement program.
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Computer assisted cdi your secret weapon to revenue generationezDI
The clinical documentation improvement (CDI) market is set to reach USD 4.5 billion by 2023, at a compound annual growth rate (CAGR) of 7.9%. And for good reason. With 23 states embracing a value-based care model to improve their healthcare systems, the spotlight is firmly on clinical documentation.
1. Unknown 4%
Attire/Linen 1%
Capital Medical 3%
Subscriptions 10%
Supplies/
Other 1%
Other 9%
Printed
Material 0%
Office 2%
Drug Related 12%
Facilities 9%
Food 1%
Gas 0%
Maintenance 0%
Lab 0%
Technology 13%
Med/Surg 31%
TOTAL SPEND AREAS OF POTENTIAL OPPORTUNITY
Attire/Linen $1,104,813Supplies/Other $2,110,902
Drugs
$24,224,211
Facilities
$19,162,339
Lab $8,612,108
Med/Surg
$64,833,950
Phase:123Data Normalization
Wheaton Franciscan Healthcare is one of the largest integrated regional health care
delivery systems serving Iowa, Illinois and Wisconsin and one of the most tightly run.
In fact, the system recently received the ECRI Institute Supply Chain Award—one
of only five recipients out of nearly 2,500 hospitals and health systems using ECRI’s
supply chain services. Yet, Wheaton recognized that it was still missing opportunities
for savings. So it partnered with McKesson to become the first system to utilize
McKesson Strategic Supply Sourcing.
Case
Study
Customer: Wheaton Franciscan Healthcare, Glendale, Wisconsin
Sites: 100 (including 18 hospitals, 70 clinic sites, three long-term care facilities and
more than 3,400 physicians)
Total Spend: $220,803,723
McKesson Supply Chain Suite: McKesson Strategic Supply Sourcing, Horizon Enterprise
Materials Management, IntelliShelf Point of Use
“It’s a paradigm shift in how we’re going to purchase things and
how we look at products…we’ll have complete transparency on
what our spend is and what the universe of product is out there.”
Joe Volpe, VP Supply Chain
Wheaton Franciscan Healthcare
This case study represents the
opportunities identified in Phase 1
of our 3-part strategy for identifying
savings with McKesson Strategic
Supply Sourcing:
Phase 1: Normalize Data
Phase 2: Synchronize GPO
Contracts
Phase 3: Clinician-Defined
Formularies & Procurement
2. PHASE I PRELIMINARY OPPORTUNITIES
AREA
IDENTIFIED
SAVINGS
TO DATE*
PROJECTED
ANNUALIZED
SAVINGS
Price Line / Product Variance $900,000 $1,890,000
Contract Price Variance $45,000 $180,000
Product / Vendor Standardization
(Based on 5% reduction over 20% of Med Surg / Lab Spend)
$1,468,920
Distribution / Service Fee Reduction
(Based on 3% reduction of 10% of Cardinal Distribution fee)
$123,680
Total Annualized Savings Phase I $3,572,600
*It took two months to normalize and analyze this data to achieve this summary.
DIVING DEEPER INTO PRICE AND PRODUCT VARIANCE
So what is making up the $900,000 in price line and product variance? McKesson Strategic Supply Sourcing uncovered a large
spend against non-catalog items, with some items being purchased up to 5 times. This offers opportunity for Wheaton to put
these repeat purchase items on contract, and also flags the need to reduce the number of Blanket Orders for areas such as
Laboratory and Pharmacy.
Additionally, the system uncovered $5 million in spend where the PO did not match the invoice, representing a potential
process issue between Accounts Payable and Purchasing that could translate to over- and under-payments to vendors. The
data supplied by McKesson Strategic Supply Sourcing will give Wheaton better visibility into correcting the problem.
Keep in mind, this is only the preliminary findings in Phase 1. Additional saving opportunities will be uncovered as we complete
Phase 1 and move forward into Phases 2 and 3.
NON-CATALOG SPEND – ALL CATEGORIES
ITEM
NUMBER
OF TIMES
PURCHASED
NUMBER OF
ITEMS DOLLAR SPEND
Non-File Item 1 Time 60,557 $126,699,308.80
Non-File Item 2 Times 383 $1,872,643.72
Non-File Item 3 Times 122 $615,995.74
Non-File Item 4 Times 111 $1,309,615.73
Non-File Item 5 Times 383 $10,533,836.78
Total 61,556 $141,031,400.77
PURCHASE ORDER TO INVOICE VARIANCE ANALYSIS
CRITERIA INVOICE ($) PO LINE COUNT TOTAL PO SPEND TOTAL
Purchase Order Total = Invoice Total 216,599 $169,923,596.69 $169,923,596.69
Purchase Order Total < Invoice Total 5,154 $3,128,532.98 $2,334,440.48
Purchase Order Total > Invoice Total 5,794 $2,353,027.23 $2,699,773.89
Total Unmatched Spend $5,034,214.37
“You have the whole gammet of
information you need to really
make a wise decision.”
Terri Kendrick, Director, Purchasing
Wheaton Franciscan Healthcare
Confidential: For Internal Use Only May, 2012