IRVING, Texas and DENVER–(BUSINESS WIRE)–Vizient Inc. and RISCS, Inc. today announced a joint pilot program to improve pharmaceutical supply assurance. Once implemented, the program would use a scoring system to enable the assessment of critical aspects of a resilient supply chain and provide increased transparency.
During the pilot, pharmacy vendors will be asked to provide key information about their supply chains through the RFP process. The information provided will allow visibility into aspects of the supply chain such as redundancy in raw material supply, available production capacity and production flexibility, inventory practices, location differentiation and geopolitical risks.
“Our mission at RISCS is to help ensure a sustainable supply of essential medicines and Vizient has been a core member of our RISCS Advisory Group, which developed our RISC Rating System™ framework,” said Stephen Colvill, Executive Director of RISCS. . “We welcome Vizient’s partnership in piloting the integration of the RISC Rating System™ into their contractual decisions.”
Vizient is the largest member-driven healthcare performance improvement company in the United States. Vizient’s diverse customer and member base includes academic medical centers, pediatric facilities, community hospitals, integrated healthcare delivery networks, and non-acute healthcare providers.
“Transparency throughout the healthcare supply chain is key to mitigating disruption. From raw material sourcing to finished product delivery, suppliers need this visibility to mitigate potential supply disruptions that impact their ability to care for patients,” said Mittal Sutaria, vice- Vizient Senior President, Pharmacy Contract and Program Solutions. “Troubleshooting drug shortages is within reach, and improving transparency is the first step toward the solution.”
Learn more about the Vizient-RISCS Pharmaceutical Supply Chain Resilience Rating Program and the RISC Rating System™ at www.RISCratings.com.
About Vizient Inc.
Vizient, Inc., the nation’s largest healthcare performance improvement company, serves more than 50% of the nation’s acute care providers, which includes 97% of the nation’s academic medical centers and more than 20% outpatient care providers. Vizient provides expertise, analysis and consulting services, as well as a contract portfolio that represents more than $130 billion in annual purchase volume. Vizient’s solutions and services improve the delivery of high-value care by aligning cost, quality, and market performance. Based in Irving, Texas, Vizient has offices across the United States. Learn more at www.vizientinc.com.
About RISCS, Inc.
RISCS, Inc. is a not-for-profit rating and certification organization that assesses the resilience of the pharmaceutical supply chain. RISCS’ mission is to prevent drug shortages by promoting resilient pharmaceutical supply chain practices using the RISC Rating System™. By assessing raw materials, fill-finish and inventory practices for critical essential medicines, RISCS helps medicine buyers make more effective procurement and purchasing decisions. RISCS is proud to help help patients access the medicines they need.