Healthcare Materials Management Society of NJ
is proud to present
Hospitals Overspend $39 Billion Annually on
Purchased Services - What Are You Going To Do About It?
November 13, 2019 5pm - 8pm
At the Holiday Inn, Clark, NJ
Thank you to the provider of today's speaker:
About This Program
According to the American Hospital Association, U.S. hospitals spend $991 billion on operating expenses. Purchased services make up for 20% of operating costs, meaning that approximately $198 billion of that overspend can be attributed to purchased services expenses. An often-overlooked sector of the supply chain, purchased services is an untapped opportunity for savings that goes directly back to a facility's bottom line. Cost management strategies, with the help of AI-backed analytics and industry benchmarks can help hospitals save an average of 24% on purchased services. What does that mean for US hospitals? Collectively, they can save $39 billion each year.
From this session you will learn:
- The importance of streamlining purchased services spend
- Common misconceptions and challenges of purchased services
- How to implement a lifecycle approach to purchased services management
- The impact on supplier-stakeholder relations
Who Should Attend: EVERYONE! Directors of Materials Management, Supply Chain/Resource Managers, Patient Experience Professionals, Infection Control Practitioners, O.R. Managers/Staff, Support Services Management, Environmental Services, and Corporate VP of Supply Chain Management.
Chris Gormley, Chief Executive Officer, Medpricer
Chris joined Medpricer in 2015. He serves as the Chief Executive Officer and is a member of the Board of Directors. His prior experience is a unique blend of leadership roles in the Cloud Technology, eSourcing, and Healthcare industries.
Prior to joining Medpricer, Chris was CEO of Social Media Information (SMI), an early stage tech company that provides a cloud platform for investigating social open-source intelligence (SOSINT) and was an early employee of FreeMarkets (now SAP), the pioneer in electronic sourcing markets. Chris's healthcare experience comes from a global commercial leadership role at Omnyx, a $125 million GE Healthcare / UPMC joint venture focused on digital anatomic imaging.
Chris is a member of the Advisory Team for Othot, a company specializing in predictive analytics. In addition to sharing his leadership experience, Chris helped Othot integrate social media analytics into its predictive analytics platform.
Chris holds an MBA in Finance & Strategy from the Wharton School and a BS degree with high distinction in Chemical Engineering from Worcester Polytechnic Institute.
Agenda & Location
- Registration & Appetizers 5:00-5:50pm
- Steve Faup, President HMMS-NJ
- Education Session 6:00-7:00pm
- Dinner and Adjournment 7:00-8:00pm
The Holiday Inn
36 Valley Rd, Clark, NJ 07066
There will be no charge for HMMS-NJ members who attend: however, you still must register for this program.
Non-Members Fee is $40.00 and payable at the door
Please include names, titles, and e-mail addresses of those registering as well as the facility name, your direct phone number, and how many in your party will stay for dinner.
Continuing Education Units (CEUs): Credits will be applied for by HMMS-NJ and be sent to all attendees requesting them.
Thank you for joining