SOURCE: Yankee Alliance

Yankee Alliance

August 08, 2012 13:05 ET

Yankee Alliance Closes Fiscal Year With Members Achieving $64 Million in Savings

Members Documented Savings Increased by $20 Million Over Last Year

ANDOVER, MA--(Marketwire - August 08, 2012) -  The healthcare industry is in flux. Costs need to be controlled. Every stakeholder group from government to payers to providers to patients is frustrated and looking for answers. Yankee Alliance membership is doing their part to help.

Jim Oliver, President and CEO for Yankee Alliance, announced today that Yankee Alliance members have achieved and exceeded their shared goal of savings for fiscal year 2012. To date members have documented over $64 million in savings. Jim said, "I am so proud of our membership's unwavering commitment to implementing savings for their organizations. Their work really makes a difference."

"There has never been a more important time to focus on supply chain savings while maintaining clinical quality. The more money we save the better treatment we can provide to our local and regional communities. Winchester Hospital has worked with Yankee Alliance for 25 years and they have been a true partner. I really feel like they are an extension of my organization," said Dale Lodge President, Winchester Healthcare Management.

Supply chain costs are one of the highest expenses on an organizations balance sheet. Attacking costs in the supply chain can be very effective in achieving significant savings for an organization but identifying opportunity is only the first step. "Savings are identified in many ways: through contract negotiation, product standardization, price and product utilization benchmarking and through improvement collaboratives. These innovative tools and processes are only the beginning. The real heroes are our members who strive to save money and implement change in their organizations every single day," said Mark Scagliarini, Senior Vice President, Supply Chain Operations for Yankee Alliance.

"Ellis realizes important cost reductions thanks to Yankee Alliance's ability to identify both contract and savings opportunities," said Paul Segovis, Director of Materials Management, Ellis Medicine. "We also find it valuable that Yankee Alliance facilitates, organizes and helps member hospitals to collaborate and share ideas and data that ultimately drive cost saving change in our individual facilities. As a not-for-profit hospital facing the challenges of health care reform in an uncertain economy, it's even more important that we continue to be good stewards of our resources -- and Yankee Alliance supports our doing just that."

For more information or to schedule an interview with anyone quoted above please contact; Jason Bond, Director of Marketing, Yankee Alliance, (978) 470-2000 or at jbond@yankeealliance.com.

About Yankee Alliance
Yankee Alliance, a member of Premier Inc., is a group purchasing organization founded in 1984 on a belief in collaboration. That working together can achieve more than working alone. Our mission is twofold: to work with members to reduce supply and operating expenses through aggregation of data, purchasing, ideas and knowledge and to excel in strategic innovations that continually assist members in reducing their cost while recognizing their individual needs. In 2012 Yankee Alliance remains true to the foundational belief in collaboration and has grown to over 11,600 members in all class of trades across all 50 states. Yankee Alliance has been recognized by Modern Healthcare as one of the Best Places to Work in Healthcare in 2010 and 2011. For more information visit www.yankeealliance.com.

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