Vizient Announces Milestone in Fight to End Drug Shortages: 100 Million Additional Units of Essential Medications Through Novaplus Enhanced Supply Program in Under Two Years
IRVING, Texas--(BUSINESS WIRE)--Vizient, Inc. today announced its Novaplus Enhanced Supply Program has brought 100 million additional units of inventory of essential medications to the supply chain, many used to treat life-threatening illnesses. The increase in inventory comes after the program was launched in 2020 and protects against shortages for these essential medications should a supply chain disruption occur.
“The impact of 100 million additional units of onshore inventory cannot be understated, especially considering the current challenges of the nation’s supply chain,” said Dan Kistner, group senior vice president, pharmacy solutions for Vizient. “Patients can’t survive without certain life-saving medicines, and hospitals and pharmaceutical suppliers are coming together under this program to protect them from potential supply chain disruptions. This program is gaining momentum because both sides of the supply chain are finding value in it.”
The Novaplus Enhanced Supply Program provides supply assurance for participating Vizient members through increased inventory commitment from suppliers and members for essential medications. The program proved successful in the spring of 2020 when demand for the sedative propofol, used to treat COVID patients on ventilators, spiked 272%. Through Novaplus Enhanced Supply program, 676,000 additional units of the sedative had already entered the market at the time of the spike.
Medications identified as essential by Vizient include acute treatment drugs with no alternatives, chronic treatment drugs with no alternatives and high impact drugs whose alternatives are less clinically desirable.
The program now includes 79 essential medications and over 300 unique presentations of these drugs. These include antibiotics, blood thinners, certain chemotherapy drugs and medications required in the operating room.
“As market conditions evolve and change, our strategy for supply resilience evolves and changes as well,” said Kistner. “We are continuing efforts to reinforce resiliency in the pharmaceutical supply chain as we further evolve Novaplus Enhanced Supply program, leveraging enhanced member commitment to support dedicated inventory of essential medications, to meet the needs of our member health care organizations.”
Learn more about Novaplus Enhanced Supply Program.
About Vizient, Inc.
Vizient, Inc. provides solutions and services that improve the delivery of high-value care by aligning cost, quality and market performance for more than 50% of the nation’s acute care providers, which includes 97% of the nation’s academic medical centers, and more than 20% of ambulatory care providers. Vizient provides expertise, analytics and advisory services, as well as a contract portfolio that represents more than $110 billion in annual purchasing volume, to improve patient outcomes and lower costs. In 2021, Vizient acquired Intalere, which expanded its footprint with ambulatory and rural acute care providers. Vizient has earned a World’s Most Ethical Company designation from the Ethisphere Institute every year since its inception. Headquartered in Irving, Texas, Vizient has offices throughout the United States. Learn more at www.vizientinc.com.
About Vizient Novaplus and the Novaplus Enhanced Supply Program
Novaplus, a Vizient sourcing program, is the market-leading, private label program that includes a consistent supply of competitively priced medications for both inpatient and outpatient facilities. Novaplus is also a critical strategy in protecting Vizient members from drug shortages and the impact on resources and delivery of patient care.
Novaplus Enhanced Supply Program provides additional inventory of essential products through enhanced supplier partnerships to mitigate supply disruptions and demand surge. This program provides predictability and sustainability to drive continued production and supply resiliency. Production transparency requirements increase visibility to anticipate and further mitigate potential supply disruptions.