Collaborative efforts using both technology and services results in improvements to contract utilization, spend management, formulary development and inventory reductions
ALISO VIEJO, CALIF. (PRWEB) MARCH 25, 2019
Inventory Optimization Solutions (IOS) today announced that Cornerstone Healthcare Group has received the 2018 Q4 Best Practice Award. Cornerstone has demonstrated exceptional capabilities in contract utilization, formulary development and management, spend management and inventory reduction, using the Envi Supply Chain Solution to drive informed decision-making, improve results, and achieve new savings and efficiencies. IOS continually identifies and shares best practices from customers to help educate the healthcare community on supply chain automation. Each quarter, IOS recognizes an organization demonstrating exceptional capabilities in supply chain excellence.
Cornerstone Healthcare Group was founded in 1990 and is based in Dallas, TX. The mission of Cornerstone is to provide the highest quality, patient-focused healthcare and customer service to every patient, family member, and physician it serves. Cornerstone is comprised of three business segments:
• Long Term Acute Care operates 18 long term acute care hospitals
• Behavioral Health offers a continuum of services focused on older adults and is establishing psychiatric facilities in select regions
• Senior Living owns and operates seven communities in Texas, Arkansas and Tennessee, with plans for growth
In an organization dedicated to quality, patient care and customer service, growth requires a strong infrastructure, both in terms of technology and business processes. As Luis Martinez, Vice President of Supply Chain, assumed responsibilities at Cornerstone, he saw the opportunity to leverage technology and services to improve internal processes and drive greater results from supply chain management.
“A few years ago, we had multiple systems and 18 item masters, one for each acute care location,” said Martinez. “We set goals to streamline purchasing and create a single item master, so we could build visibility and better control our formulary, increase contract compliance and manage spend. We wanted to improve inventory management. Our end users needed a user-friendly system. Previously, we’d been using a system that wasn’t very intuitive, and training new team members was a big task. And finally, we were looking to improve our reporting capabilities. We needed better data on everything we were doing and were looking for tools that could create reporting for key areas.”
Since implementing the Envi® Supply Chain Solution, the team has improved results and processes throughout the organization. “We implemented Envi almost two years ago, beginning with a phased roll-out at a single location and continuing to expand in terms of locations and capabilities using Envi,” said Martinez. “Today, we’ve built a single item master and approved formulary, and are using Envi to help us advance toward greater standardization. Our staff members are saving time through a combination of technology and outsourced services, and are improving supply chain processes. For example, our materials managers are using the scanning capabilities of Envi to automate reordering processes and reduce staff time by about 40 percent. In addition, we’re reducing our spend through greater contract utilization and accuracy, and we have the reporting tools we need at both corporate and local levels. We’ve built confidence in the reporting we deliver, based on data that is accurate and trusted.”
IOS works with more than 5,000 healthcare facilities throughout the United States. As a result of this large footprint and broad range of users, IOS is able to identify, document and share best practices that are designed to help healthcare organizations improve their supply chain processes and overall results.
“Cornerstone Healthcare Group is a great example of how the combination of technology and services can deliver even greater results,” said Steve Britt, managing partner, IOS. “By collaborating with both IOS and their GPO, the supply chain team at Cornerstone has achieved success in a number of areas. Today, they have a standardized formulary and contract management processes that help reduce spend and proactively identify price discrepancies. Their corporate and local teams benefit from the reporting tools and accurate data they need. Supply chain is making a tangible contribution to the success of Cornerstone, and we’re honored to be a foundational part of their efforts.”
About Inventory Optimization Solutions (IOS)
Inventory Optimization Solutions (IOS) provides healthcare organizations with powerful, affordable, uniquely modular, and easy-to-use web-based supply chain solutions that offer the flexibility to support facilities throughout the continuum of care. IOS operates with a commitment to delivering world-class customer service, guiding customers to a better supply chain, providing high-touch support, industry best-practices, deep healthcare expertise and continuously evolving solutions that help them succeed. The goal of IOS is to ensure customers have more time each day for their most important role: caring for patients. For more information, visit https://ioscorp.envi.net.
To download the full award, click here.
Original press release: http://www.prweb.com/releases/inventory_optimization_solutions_ios_announces_cornerstone_healthcare_group_has_received_q4_2018_best_practice_award/prweb16187451.htm
