Newport News, Va. – Riverside Health System has again received the Supply Chain Excellence Award from Premier Inc., a leading healthcare improvement company, for its high-value purchasing practices.
“Riverside is being recognized again not only for its advanced purchasing abilities but also for its continuous work to share best practices and support across the Premier alliance,” said David A. Hargraves, Senior Vice President, Supply Chain, Premier. “We celebrate Riverside’s purchasing practices as it works to provide high-quality care at the best cost.”
Riverside was one of only 14 hospitals and health systems across the U.S. to receive a Supply Chain Excellence Award this year. The health system has received the Supply Chain Excellence Award from Premier numerous times over the past decade. This year, Riverside Tappahannock Hospital was named a finalist for the 2020 QUEST® Award for High-Value Healthcare for providing outstanding patient care.
In May, Riverside announced it was partnering with Premier to acquire a minority stake in Prestige Ameritech, the largest domestic manufacturer of N95 respirators and surgical masks, to expand PPE production.
“The global pandemic has challenged our country's healthcare delivery system like never before, and it has placed even greater emphasis on strategic collaboration and utilization management,” said Bob Hornsby, System Director, Supply Chain Management, Riverside Health System. “We are very proud of our Riverside Health System team members who continue to work extremely hard to ensure that we always have the supplies we need to deliver safe, high-quality patient care as efficiently as possible.”
To be eligible for the Supply Chain Excellence Award, each organization had to submit four quarters of calendar 2019 data through the PremierConnect® comparative database of operational and supply chain cost information for acute care hospitals. Winners were selected using four industry standard case-mix-index-adjusted supply expense ratios and a peer grouping methodology to ensure that organizations of diverse sizes and complexity were considered equally.
With 40 indicators measuring and trending performance in cost and operations, PremierConnect enables hospitals to compare supply expense performance to that of similar facilities and easily identify improvement opportunities.
Published: October 2, 2020