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Cover Story 2008 Materials Management Department of the Year |
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People, Places, Processes & Products that Influence the Supply Chain |
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INSIDE THE CURRENT ISSUE |
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Fast Foreward |
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For whom the bell tolls SHOP TALK. Much ado is being made about MedAssets’ late August initial public offering and its perceived ripple effect on the industry. How will the infusion of Wall Street investment capital, presumably by companies with which it directly or indirectly contracts, affect those contract negotiations – if at all? Are implications of conflict of interest and competing fiduciary responsibilities just a lot of haranguing and hooey? Or will a Securities and Exchange Commission-governed organization contribute positively to calls for financial and operational transparency, quelling Congressional and vendor association critics of the GPO industry? Maybe after the smoke clears the politicians and pundits – and lay media – might finally comprehend how healthcare group purchasing works. The fact that MedAssets filed an IPO may be significant, but it’s not as melodramatically earth-shattering as some prominent industry observers and media outlets are spinning it to be. Sorry. No, a headline grabber would be MedAssets chief John Bardis being asked to join Boston Scientific Corp.’s board of directors – and accepting the post. But the real sizzler question about MedAssets’ IPO is how many key executives and employees from competing GPOs, as well as employees of shareholder or member hospitals, secretly will cough up considerable coin for MedAssets shares? And from which GPOs will emerge the most investors?CAPITALIST TOOL. Supply chain experts at the W.P. Carey School of Business at Arizona State University, in conjunction with AHRMM, may be making noteworthy strides in developing the SCMetrix online performance benchmarking tool. They’re designing the tool to "help move the materials management field beyond results-oriented financial metric benchmarking to a more comprehensive performance measurement and benchmarking industry standard that recognizes the importance of measuring value drivers and implementation of best practices in supply chain operations." It’s a noble – and necessary – mission. But there’s one fundamental challenge that needs to be the capstone. SCMetrix developers must convince the C-suite to recognize, accept and use the data derived from SCMetrix as a valid and reliable benchmark, perhaps garnering endorsements and/or support by ACHE, HFMA and AHRMM’s parent. Until then, it may just be deemed another tool in the box instead of the mechanism that finally vaults supply chain management to the C-suite where it belongs. TREND SETTER. Just wondering: How soon before dashboard-driving, data enthusiasts earn the label "metricsexuals?" I SPY. A recent Spyglass Consulting Group study found that many physicians are reluctant to use mobile devices for managing patient data, preferring the traditional computer terminal and keyboard. Also, it’s much more efficient for them to delegate the task to nurses using high-tech pens and sticky notes. FREEBIE GEEBIES. CMS declared that Medicare no longer will reimburse hospitals for what it terms preventable medical errors, such as infections, falls and objects left in surgical patients. After all, patients already get too many free samples from doctors, hospitals and drug companies. Celebrate success, readers.
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