BUILDING ON TWO DECADES OF FOUNDATIONAL HISTORY & BUSINESS GROWTH
The official acknowledgment of HealthTrust’s 20-year milestone commences this quarter with the publication of our first annual report.
We will continue to commemorate our platinum achievement throughout 2019, including a celebration with member attendees during the HealthTrust University Conference in Nashville.
WELCOME KINDRED HEALTHCARE
As part of our continued growth in the area of total spend management, I am pleased to welcome Kindred Healthcare to the HealthTrust membership. Headquartered in Louisville, Kentucky, Kindred Healthcare is a specialty hospital and rehabilitation company providing services in 45 states. We look forward to a long relationship, supporting their patient care mission by providing access to quality products and supply chain efficiencies, as well as working with the Kindred team to enhance their operational performance.
HealthTrust manages one of the largest purchasing programs for pharmaceuticals in the GPO market, with billions of dollars of pharmacy spend on the IDN side through HealthTrust, as well as billions of dollars of spend in the employer/pharmacy benefits management space through our CoreTrust business. Historically, this has been delivered through two separate teams within HealthTrust. Michael Berryhill, HealthTrust COO, recently announced the reorganization of our pharmacy program into a single function, focused on strategy and execution of pharmacy optimization.
HealthTrust Senior Vice President Joey Dizenhouse now leads the Pharmacy Services Group. With more than 20 years of experience in the health/pharmacy insurance field, he has worked with some of the nation’s largest IDNs and employers and has particular expertise in designing employee benefits/PBM group purchasing programs. Joey officially joined HealthTrust in 2016 after several years of consulting with us.
As part of this redesign strategy, Joey and his team conducted a rigorous RFP process and selected OptumRx as HealthTrust’s exclusive pharmacy care services partner. OptumRx will provide pharmacy benefit solutions intended to support better health outcomes, improved consumer experiences and lower costs. Combined with HealthTrust’s portfolio and pharmacy capabilities, this partnership will enable us to deliver programs that incorporate transparency, flexibility and alignment of incentives between the PBM, employer and patient.
Another area of our business—HealthTrust Workforce Solutions—was recognized in the first quarter with a “Best of Staffing Client Award” by ClearlyRated for endorsements received from its client organizations. Presented in partnership with CareerBuilder and Indeed, “Best of Staffing” recognition is based on Net Promoter Score—a measure of how likely clients are to recommend an agency to a friend or colleague. With a mission of helping hospitals and health systems fill critical labor vacancies, HealthTrust Workforce Solutions received high ratings from nearly two-thirds of its surveyed clients, indicating they would recommend the agency to others. The rating is significantly higher than the staffing industry average of 35 percent for agencies participating in the annual survey in 2018. Congratulations to president and CEO of HealthTrust Workforce Solutions Brendan Courtney and his team on this recognition.
HealthTrust Europe (HTE) is a market-leading total spend management company, delivering the highest quality products and services at market competitive pricing, including double-digit savings across many categories. Since inception as HTE in 2011, its offerings have expanded to also include pharmacy automation, drug contracting, purchased services/outsourced frameworks, and flexible contracting solutions— such as information communication technology and staffing.
Working in partnership with the National Health Service (NHS), HCA Healthcare UK and private equity firms affiliated with our CoreTrust Europe GPO, Dennis Robb and the HealthTrust Europe (HTE) team increased its total spend under management to £1 billion in just 10 months.
The recent HealthTrust Europe and HCA Healthcare UK supply chain initiative achieved more than £5 million in savings and significant operational improvements. The work was a collaboration between HTE operations staff in Birmingham, our U.S. team and the London-based supply chain team. Together, they drove pharmacy automation and inventory control, enhanced clinical engagement, installed new IT platforms, improved data and financial analytics, and provided general data protection compliance and robust contracting.
These and many other areas of our business will continue to position HealthTrust for success over the next 20 years and beyond. Thank you for trusting us with your spend management, and clinical and operational performance improvement needs.