Alan Wilde, MBA, vice president of system services at University Hospitals, says his organization joined the collaborative with two goals in mind: to create more regionalism in its procurement and to save money. "Not only for us, but for the other members of POWR," he said. "We looked at it as a win-win."
Wilde says that UH is starting to reap the financial benefits of its involvement in POWR.
"We have just begun realizing the savings," he said. "We have aggregated volume and received reduced pricing in several categories. Within the POWR group, we have learned some best practices from the other hospitals and Premier has engaged to drive value and reduce costs."
In Wilde's opinion, working in a collaborative is a good way for health systems to learn from each other and find solutions to improve efficiencies, and he expects more hospitals to become part of a supply chain collaborative.
"We are very happy with the results we have received so far and look forward to greater accomplishments with the POWR Group. We believe these collaboratives are the wave of the future as hospitals and health systems look for ways to reduce cost and improve quality," he said.
Premier's COO Mike Alkire agrees that purchasing collaboratives will gain in popularity as healthcare providers try to figure out how best to prosper in the new era of value-based reimbursement.
"Hospitals and health systems nationwide face a significant change imperative as they transition toward value-based care models. Ensuring efficiency while maintaining high-quality care is key to their success," Alkire said.