Accelerated Performance to Deliver Cost-Effective Healthcare

Accelerated Performance to Deliver Cost-Effective Healthcare

By Gov CIO Outlook | Friday, February 22, 2019

Vizient is the largest healthcare improvement company in the country that is driven by its members. Vizient offers its members excellent and cost-effective treatment at every turn, supported by networking insights into the critical areas of clinical, operational, and supply chain performance. Vizient's diverse base of membership includes academic medical centers, pediatric facilities, community hospitals, integrated health networks, and non-acute health care providers. It fuels new business models and new approaches to care with its members–all through the power of brilliant connectivity.

The board of directors of Vizient represents the needs of its partners and offers valuable leadership guidance on the strategic efforts of the company. The integrity of their business has long served as their cornerstone, and as a private company, they are committed to many of the same governance and regulatory standards for publicly traded companies. Vizient received a designation from the Ethisphere Institute in 2018 as World's Most Ethical Company.

Vizient, Inc. is extremely pleased with the recent ruling from the District Court Judge when it cut Medicare payments by almost 30 percent to hospitals in the 340B Drug Pricing Program. The court did not decide on the way to address the reduction in payments that had already taken effect, even though the applicant’s motion for a permanent injunction had been granted. Judge Contreras decided to postpone a resolution and ordered the two parties to provide an additional brief within 30 days on the appropriate course of action. In CMS policies to drug reimbursement for medicament 340B drugs dramatically reduced, which will have a significant and negative effect on health and safety net hospitals and patients they serve, Vizient is constantly deceptive. Moreover, reducing reimbursement of hospital 340B will not help to tackle the increased cost of prescription drugs, threatening access to care alone. In addition, CMS recognizes, depending on a number of factors such as size, patient volume, the labor market area, and case mix that acquisition costs for medicines may vary between hospitals. Therefore, the agency wants to explore ways of aligning the actual costs of acquisition incurred by hospitals instead of using an average minimum reduced rate that will be consistent across all 340B hospitals over the longer term.

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