Crouse Hospital has been selected as a 2010 “Excellence in Innovation” award honoree by The Advisory Board Company, a leading global provider of comprehensive performance improvement services to the healthcare and education industries. Crouse received the national award for its success in improving performance in the areas of supply utilization and overall supply chain cost reduction and efficiency. The award was presented to Crouse staff members at the Advisory Board’s annual meeting in Washington, DC.
The award, one of two presented to U.S. hospitals and health systems annually, honors innovative purchasing and materials management initiatives that have driven exceptional supply chain strategies and savings across the organization using the Advisory Board’s Spend Compass program. Spend Compass participants utilize best-practice research, performance improvement analysis and Web-based analytical tools to hardwire optimum performance in supply cost controls, contract compliance and vendor negotiations.
At Crouse, more than $855,000 in savings and other cost efficiencies have been achieved in the past five months through a collaborative approach with the hospital’s medical staff, clinicians, multidisciplinary values analysis teams and vendors. This includes a spine implant cost reduction initiative in surgical services and inventory standardization for cardiac catheterization balloons and stents. The Spend Compass program has also allowed the hospital to identify high-volume inventory that can be standardized for optimal pricing. Crouse projects an additional savings of over $1 million in 2010 as a result of these initiatives.
“This award is the result of a number of hospital departments and staff members working together to develop and implement a progressive, results-oriented strategy that’s in line with the hospital’s mission, vision and values,” says Crouse President and CEO Paul Kronenberg, MD. “This initiative reflects our ongoing focus on pursuing excellence through innovation and creativity as well as our commitment to quality and fiscal responsibility.”