Supply Chain

Group purchasing saves Kansas Hospital Association members up to 50 percent on natural gas contracts, 11 percent on air gas renewal, over 50 percent in radiology procedure supplies and realized a 5 to 12 percent reduction in the cost of facilities and construction.

Declines in inpatient volume, reimbursement and changes in the boundary between payers and providers are compelling CFOs across the country to develop new, innovative ways to cut costs.

Harvard Drug Group mainly distributes generic pharmaceuticals and pulled in more than $450 million in revenue in fiscal 2014.

According to tax and advisory firm KPMG, 74 percent of healthcare providers say they are either in the beginning stages or have not even begun to invest is systems for analytics and financial reporting.

Major cancer centers topped the list with tens of millions in payments and services from pharmaceutical giants.

Several teaching hospitals raked millions in payments from device and drug manufacturers in 2014, according to new data from the Centers for Medicare and Medicaid Services released Tuesday that showed drug and medical device makers made close to $6.5 billion in payments to healthcare providers in 2014.

Nearly three in four Americans say the costs of prescription drugs are "unreasonable," with most putting the blame on drugmakers, a survey by the Kaiser Family Foundation found.

The privately held company is in the $9 billion global market for products designed for the treatment of vertebral compression fractures, degenerative disc disease.

Hospital chief financial officers have indispensable business intelligence towards managing costs surrounding supply chain purchases.

Actavis said the newly combined company, which will take on the Allergan name, is expected to net $23 billion in sales in 2015.