In response to members’ interest for improved cost-effectiveness in IV Therapy, Yankee Alliance brought hospitals together for an in-depth exploration of IV Therapy products through our Rapid Improvement Collaborative (RIC) Program. In partnership with a Yankee Alliance supplier, the RIC Program provides members a structured approach to implement evidence-based product utilization initiatives to reduce costs and improve patient care. In our newest short-term RIC Program, members gained access to analytics and actions plans that will drive substantial utilization savings to their hospital.

In addition to uncovering savings, program objectives include effective vendor management and improved contractual language for members. The value to Yankee Alliance membership includes:

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• Increased role in vendor management, failure to supply, and compliance monitored by Yankee Alliance, continual data analysis to obtain accurate financial metrics, margins and cost awareness, and contract compliance to address member volume commitments.
• Utilizing tools to model individual scenarios to determine and optimize contract decisions.
• Enhancing outcomes and delivering optimal value for patients.
• Evidence-based assessment and implementation of products and devices.
• Maximized value of the contract for members.

The success of the RIC Program relies on collaboration among Yankee Alliance and hospital stakeholders in Supply Chain, Clinical SMEs, Pharmacy, and supplier partners. RIC Program components consist of:

• Utilizing in-depth analytics to gather and showcase member survey results, market share data, member spend by category, and MS breakdown by category.
• Deeper analytics using Premier modelling, total cost of ownership, directional models, and impacts. Also examining pharmacy data and utilization action plans.
• Providing demonstrations and presentations on the products and contracts from suppliers.
• Collaborating with members to put utilization plans into action.
• Executing a final contract with supplier and members.

Our RIC Program is specifically tailored to provide members easy access to analytics and action plans aimed at driving utilization savings. To learn more about the RIC Program and other future RIC cost-savings opportunities, please feel free to reach out to our account management team.

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For more information or questions about the Rapid Improvement Collaborative Program, please reach out to Duane Bragg at DBRAGG@YANKEEALLIANCE.COM.