Supply Chain
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.
Henry Schein, one of the largest distributors of medical, dental and veterinary supplies, had more than $10.3 billion in revenue in 2014 and $466 million in profit.
Shares of Farmingdale, New York-based Enzo Biochem fell as low as 17 percent on Tuesday after a federal appeals court threw out a patent infringement ruling it won against Applera.
Despite initial concerns that the passing of the Affordable Care Act would inhibit growth of the spinal implant market, the additional 30 million patients receiving coverage have helped the market continue to grow.
In total, 37 people have pleaded guilty to scheme in which bribes were paid to doctors in return for referring patient blood specimens to Biodiagnostic Laboratory Services in New Jersey.
Merck & Co. received $1.4 billion from HHS in 2014, while Pfizer scored $856 million, according to report by analytics firm Govini.
Theranos technology can take a drop of blood from the finger and screen for a spectrum of conditions and diseases at half the price of Medicare.
Beyond incremental financial savings, if hospitals are able to effectively manage data in a way that fits the needs of their value analysis and revenue cycle teams, the operational efficiencies can be even more impactful.
In an era of declining reimbursements, hospital CFOs and CEOs will be forced to attack the second largest cost area for their organizations: supplies and service expense.