Latest news with #Vizient
Yahoo
15-05-2025
- Health
- Yahoo
Vizient Hosts Congressional Briefing on the Complexities of Hospital Financing
IRVING, Texas, May 15, 2025--(BUSINESS WIRE)--Yesterday on Capitol Hill, Vizient, Inc. hosted a congressional policy briefing titled, "Hospitals' Financial Health: The Complex Ecosystem of Provider Reimbursement," at the Rayburn House Office Building. The event featured remarks from Rep. Dave Min (D-CA) and drew an engaged audience of congressional staff and industry stakeholders. While unable to attend in person, House Agriculture Committee Chairman Glenn "GT" Thompson (R-PA) and Rep. Lou Correa (D-CA) shared remarks in support of the briefing. The discussion focused on how hospitals are navigating a complex financial environment shaped by shifting reimbursement models, evolving policy changes, and increasing care demands. "Academic medical centers like UCI Health are training future clinicians while delivering essential care," said Rep. Min (D-CA). "However, growing financial pressures, especially around Medicaid reimbursement, threaten their ability to keep their doors open. We need to advance policies that ensure reliable reimbursement and protect access to care for all Californians." "As a former therapist and licensed nursing home administrator, I've seen first-hand the essential need for access to quality care," said Rep. Thompson (R-PA). "Reliable health systems are necessary for the health and economic well-being of rural communities. I look forward to working with all stakeholders to strengthen quality, lower costs, and increase the availability of care." "In neighborhoods across Orange County, hospitals are essential for delivering care, supporting jobs, and keeping our families healthy," said Rep. Correa (D-CA). "When hospitals in our district face financial strain, the ripple effects are real and immediate. We need strong, common-sense public policy that ensures hard-working American taxpayers have access to the care they need when they need it." Moderated by Michael D. Busch, FACHE, senior vice president, member networks at Vizient, the panel featured key healthcare leaders, including: Stephanie Daubert, Chief Financial Officer, Nebraska Medicine Steven M. Fontaine, Chief Executive Officer, Penn Highlands Healthcare Randolph P. Siwabessy, Senior Vice President & Chief Financial Officer, UCI Health & UC Irvine School of Medicine Panelists discussed the growing financial instability facing hospitals, particularly given the uncertainty around governmental funding. As noted during the briefing, hospitals are a unique combination of public utility, clinical enterprise, and academic mission, which makes their financing inherently complex. Adjusting one policy can unintentionally unravel other parts due to the system's interconnectedness. Panelists also highlighted rising operating costs, persistent labor shortages, delayed reimbursements, and the widening gap between payment rates and the actual cost of care, especially for Medicaid and Medicare patients. The panel underscored the need for sustainable policy solutions to protect hospital viability and patient access, highlighting priorities such as stabilizing government reimbursement programs, protecting safety net payments and programs and preserving graduate medical education support. Learn more about Vizient's advocacy and public policy efforts. About Vizient, Inc. Vizient, Inc., the nation's largest provider-driven healthcare performance improvement company, serves more than 65% of the nation's acute care providers, including 97% of the nation's academic medical centers, and more than 35% of the non-acute market. The Vizient contract portfolio represents $140 billion in annual purchasing volume enabling the delivery of cost-effective, high-value care. With its acquisition of Kaufman Hall in 2024, Vizient expanded its advisory services to help providers achieve financial, strategic, clinical and operational excellence. Headquartered in Irving, Texas, Vizient has offices throughout the United States. Learn more at View source version on Contacts Media ContactDonna Ledbetter(972)
Business Wire
15-05-2025
- Health
- Business Wire
Vizient Hosts Congressional Briefing on the Complexities of Hospital Financing
IRVING, Texas--(BUSINESS WIRE)--Yesterday on Capitol Hill, Vizient, Inc. hosted a congressional policy briefing titled, "Hospitals' Financial Health: The Complex Ecosystem of Provider Reimbursement," at the Rayburn House Office Building. The event featured remarks from Rep. Dave Min (D-CA) and drew an engaged audience of congressional staff and industry stakeholders. While unable to attend in person, House Agriculture Committee Chairman Glenn 'GT' Thompson (R-PA) and Rep. Lou Correa (D-CA) shared remarks in support of the briefing. The discussion focused on how hospitals are navigating a complex financial environment shaped by shifting reimbursement models, evolving policy changes, and increasing care demands. 'Academic medical centers like UCI Health are training future clinicians while delivering essential care,' said Rep. Min (D-CA). 'However, growing financial pressures, especially around Medicaid reimbursement, threaten their ability to keep their doors open. We need to advance policies that ensure reliable reimbursement and protect access to care for all Californians.' 'As a former therapist and licensed nursing home administrator, I've seen first-hand the essential need for access to quality care,' said Rep. Thompson (R-PA). 'Reliable health systems are necessary for the health and economic well-being of rural communities. I look forward to working with all stakeholders to strengthen quality, lower costs, and increase the availability of care.' 'In neighborhoods across Orange County, hospitals are essential for delivering care, supporting jobs, and keeping our families healthy,' said Rep. Correa (D-CA). 'When hospitals in our district face financial strain, the ripple effects are real and immediate. We need strong, common-sense public policy that ensures hard-working American taxpayers have access to the care they need when they need it.' Moderated by Michael D. Busch, FACHE, senior vice president, member networks at Vizient, the panel featured key healthcare leaders, including: Stephanie Daubert, Chief Financial Officer, Nebraska Medicine Steven M. Fontaine, Chief Executive Officer, Penn Highlands Healthcare Randolph P. Siwabessy, Senior Vice President & Chief Financial Officer, UCI Health & UC Irvine School of Medicine Panelists discussed the growing financial instability facing hospitals, particularly given the uncertainty around governmental funding. As noted during the briefing, hospitals are a unique combination of public utility, clinical enterprise, and academic mission, which makes their financing inherently complex. Adjusting one policy can unintentionally unravel other parts due to the system's interconnectedness. Panelists also highlighted rising operating costs, persistent labor shortages, delayed reimbursements, and the widening gap between payment rates and the actual cost of care, especially for Medicaid and Medicare patients. The panel underscored the need for sustainable policy solutions to protect hospital viability and patient access, highlighting priorities such as stabilizing government reimbursement programs, protecting safety net payments and programs and preserving graduate medical education support. Learn more about Vizient's advocacy and public policy efforts. About Vizient, Inc. Vizient, Inc., the nation's largest provider-driven healthcare performance improvement company, serves more than 65% of the nation's acute care providers, including 97% of the nation's academic medical centers, and more than 35% of the non-acute market. The Vizient contract portfolio represents $140 billion in annual purchasing volume enabling the delivery of cost-effective, high-value care. With its acquisition of Kaufman Hall in 2024, Vizient expanded its advisory services to help providers achieve financial, strategic, clinical and operational excellence. Headquartered in Irving, Texas, Vizient has offices throughout the United States. Learn more at
Business Wire
13-05-2025
- Business
- Business Wire
Vizient Hosts 2025 Cell, Gene & Specialty Pharmacy Symposium to Advance Patient Care and Health System Readiness
IRVING, Texas--(BUSINESS WIRE)-- Vizient hosted its second annual cell, gene and specialty pharmacy symposium, bringing together thought leaders committed to the advancement of health-system pharmacy in the management, delivery, and optimization of advanced therapeutics. The event was held April 22-24 in Frisco, Texas. 'The growth of cell and gene therapies is accelerating change across healthcare, requiring new approaches to forecasting, resource planning, and patient access to ensure readiness for what's ahead,' said Carina Dolan, PharmD, MS, BCOP, associate vice president, market insights and forecasting, Pharmacy Solutions, Vizient. As this growing class of cell and gene therapeutics reshapes care delivery, site-of-care strategies, and health system economics, industry stakeholders are seeking how to manage these new and promising drugs. Attendees exchanged ideas, operational and financial challenges and hope for the advancement of patient care. 'Cell and gene therapies are transforming care for patients with complex conditions. To deliver on their promise, we must evolve how we provide care—expanding access, building infrastructure, and preparing teams for a new era of treatment,' said Tami John, MD, Stanford Children's Health, who delivered the keynote address. Rhae Ana Gamber, associate principle, intelligence at Sg2, a Vizient company, presented with colleagues, 'Exploring Today's Market Trends for High Impact Disease,' which projected that with adoption of emerging cell and gene therapies, healthcare organizations could see a decline in utilization across several service lines. For example, cell and gene therapy for benign hematology, including sickle cell, could reduce current annual inpatient discharges by 29% by 2034 from a 2024 baseline of roughly 44,000. Vizient also provided an overview for new therapies currently in the approval process. Amanda Frick, sr. clinical manager, pharmacy market insights and forecasting noted that in addition to 25 FDA-approved gene and cellular immunotherapies on the market today, Vizient is monitoring 265 gene and cellular immunotherapy products in the U.S. pharmacy pipeline. Jenna Stern, vice president, regulatory affairs and public policy highlighted how major policy shifts are reshaping the regulatory landscape. These factors underscore the urgency for healthcare organizations to develop procedures for how to manage these costly therapeutics, which can range up to over $1 million per dose. Across multiple panel discussions, panelists emphasized the critical role of negotiating comprehensive contracts to safeguard against unexpected challenges. Additional key takeaways included insights from the payer perspective, strategies to improve patient access and advocacy, the importance of streamlining interdepartmental approvals, and efforts to bridge the gap between pharmacy and finance. Learn more about how Vizient helps providers find cell and gene therapy solutions. Vizient, Inc., the nation's largest provider-driven healthcare performance improvement company, serves more than 65% of the nation's acute care providers, including 97% of the nation's academic medical centers, and more than 35% of the non-acute market. The Vizient contract portfolio represents $140 billion in annual purchasing volume enabling the delivery of cost-effective, high-value care. With its acquisition of Kaufman Hall in 2024, Vizient expanded its advisory services to help providers achieve financial, strategic, clinical and operational excellence. Headquartered in Irving, Texas, Vizient has offices throughout the United States. Learn more at
National Post
12-05-2025
- Business
- National Post
InventoRR MD Inc. Receives Innovative Technology Contract from Vizient for AbClo, an Open Abdomen Management and Closure System
Article content Article content TORONTO — InventoRR MD Inc. announced its AbClo, an open abdomen management and closure system, has received an Innovative Technology contract from Vizient, Inc. the nation's largest provider-driven healthcare performance improvement company. The contract was awarded based on review of AbClo from hospital experts who serve on one of Vizient's client-led councils, and it signifies to Vizient clients its unique qualities that potentially bring improvement to the healthcare industry. Article content Innovative Technology contracts are recommended after review and interaction with products submitted through Vizient's Innovative Technology Program. Vizient client-led councils identify technologies that have the potential to enhance clinical care, patient safety, healthcare worker safety or improve business operations of healthcare organizations. Article content 'We are excited that AbClo has been accepted to the Vizient Innovative Technology Program and look forward to working with Vizient to continue AbClo's adoption and growth across their provider-client network. The Vizient Innovative Technology contract is a meaningful piece of validation for the potential impact AbClo brings to patients, surgeons and hospitals across North America.' Chris Bass, CEO of InventoRR MD Inc. AbClo represents a paradigm shift in the management and closure of intentionally left open abdomens, being the only non-invasive and preventative closure system on the market. By shifting away from reactive, invasive surgical techniques and devices, AbClo empowers hospitals and physicians to further improve patient outcomes and operational efficiencies. Article content In line with the Quadruple Aim in Healthcare Improvements, AbClo reduces patient length of stay, average surgical procedure volume and overall complication rates; helping improve hospital efficiencies and lightening provider workload. As a benefit of these improvements, AbClo works to save thousands of dollars in spending on materials, ICU stay and re-admission billing. Article content 'After a review of AbClo, Vizient's client council agreed this technology offers a unique benefit over other products available in the market today and recommended it for an Innovative Technology contract. We are pleased to award this new contract to InventoRR MD Inc.' said Kelly Flaharty, senior director of contract services for Vizient. Article content Vizient represents a diverse client base that includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute healthcare providers and has a portfolio that represents more than $140 billion in annual purchasing volume. Through its Innovative Technology Program, Vizient works with client-led councils and task forces to evaluate products for their potential to bring real innovation to healthcare. If it is determined that a product is innovative, Vizient may award a contract outside of the competitive bid cycle. Article content InventoRR MD Inc. is a medical device manufacturer specializing in innovative devices in the trauma and acute care surgery field. Our flagship product, AbClo, is improving outcomes and promoting efficiencies in open abdomen management and recovery. With a strong base in academia and practical surgical experience, InventoRR MD brings innovative products to market with a focus on improving patients and physician experiences in complex surgeries. Article content Article content Article content Article content Article content
Yahoo
12-05-2025
- Business
- Yahoo
InventoRR MD Inc. Receives Innovative Technology Contract from Vizient for AbClo, an Open Abdomen Management and Closure System
Contract awarded for products that bring improvement to healthcare industry TORONTO, May 12, 2025--(BUSINESS WIRE)--InventoRR MD Inc. announced its AbClo, an open abdomen management and closure system, has received an Innovative Technology contract from Vizient, Inc. the nation's largest provider-driven healthcare performance improvement company. The contract was awarded based on review of AbClo from hospital experts who serve on one of Vizient's client-led councils, and it signifies to Vizient clients its unique qualities that potentially bring improvement to the healthcare industry. Innovative Technology contracts are recommended after review and interaction with products submitted through Vizient's Innovative Technology Program. Vizient client-led councils identify technologies that have the potential to enhance clinical care, patient safety, healthcare worker safety or improve business operations of healthcare organizations. "We are excited that AbClo has been accepted to the Vizient Innovative Technology Program and look forward to working with Vizient to continue AbClo's adoption and growth across their provider-client network. The Vizient Innovative Technology contract is a meaningful piece of validation for the potential impact AbClo brings to patients, surgeons and hospitals across North America."Chris Bass, CEO of InventoRR MD Inc. AbClo represents a paradigm shift in the management and closure of intentionally left open abdomens, being the only non-invasive and preventative closure system on the market. By shifting away from reactive, invasive surgical techniques and devices, AbClo empowers hospitals and physicians to further improve patient outcomes and operational efficiencies. In line with the Quadruple Aim in Healthcare Improvements, AbClo reduces patient length of stay, average surgical procedure volume and overall complication rates; helping improve hospital efficiencies and lightening provider workload. As a benefit of these improvements, AbClo works to save thousands of dollars in spending on materials, ICU stay and re-admission billing. "After a review of AbClo, Vizient's client council agreed this technology offers a unique benefit over other products available in the market today and recommended it for an Innovative Technology contract. We are pleased to award this new contract to InventoRR MD Inc." said Kelly Flaharty, senior director of contract services for Vizient. Vizient represents a diverse client base that includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute healthcare providers and has a portfolio that represents more than $140 billion in annual purchasing volume. Through its Innovative Technology Program, Vizient works with client-led councils and task forces to evaluate products for their potential to bring real innovation to healthcare. If it is determined that a product is innovative, Vizient may award a contract outside of the competitive bid cycle. InventoRR MD Inc. is a medical device manufacturer specializing in innovative devices in the trauma and acute care surgery field. Our flagship product, AbClo, is improving outcomes and promoting efficiencies in open abdomen management and recovery. With a strong base in academia and practical surgical experience, InventoRR MD brings innovative products to market with a focus on improving patients and physician experiences in complex surgeries. View source version on Contacts Chris BassChief Executive Officer, InventoRR MD 647-926-4797Email: chrisbass@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
