In 2018, TPC continued to drive industry-leading results by delivering more than $50 million in total tangible value back to its Members. Through the TPC platform, Members collaborated in targeted areas to achieve exponentially more together than they could alone within supply chain, purchased services and revenue cycle. And by utilizing the processes and programs that have been proven to lower costs, Members not only improved their bottom lines, but also the patient care they deliver to their communities.
New Partnership: TPC and Vizient
TPC began 2018 by announcing a new strategic partnership with Vizient for comprehensive sourcing and cost management services. By combining Vizient’s investments in innovation and infrastructure with TPC’s committed coalition model, this powerful alliance delivered immediate cost reductions and performance improvement, producing market-leading quantifiable financial results to Member hospitals in four states. And the results speak for themselves; through GPO implementation alone, Members achieved more than $8 million in savings.
Parkview Medical Center Joins TPC
In July, TPC welcomed Parkview Medical Center as its first Member in Colorado. Serving Pueblo, Colorado, and the surrounding areas, Parkview’s community-focused mission aligned seamlessly with existing TPC Members. Through TPC, Parkview is now collaborating with like-minded healthcare leaders in three other states to evaluate strategic opportunities to better serve the unique needs of their patients while remaining a strong and independent health system.
TPC Members Focus on Key Initiatives
While GPO implementation was the primary focus for the first part of 2018, Members also completed numerous important initiatives and achieved significant savings in key categories. Among them, the Lab Clinical Value Analysis Team targeted the phlebotomy category, producing more than $500,000 in savings. TPC’s Cardiovascular Clinical Value Analysis Team was active with two large initiatives, interventional cardiology and peripheral vascular, which together yielded $2 million in combined savings. The Perioperative Clinical Value Analysis Team evaluated total joints, generating $700,000 in savings. TPC’s Revenue Cycle Council members collaborated to realize over $2 million in performance improvement through the DNFB program and over $3 million in performance improvement through the vendor management program. And through TPC’s capital program, Members saved over $1 million on their 2018 capital purchases.
Promoting Member Engagement
TPC not only delivered substantial tangible financial value back to the membership, but also significant intangible benefit through scores of peer-to-peer Member meetings across multiple levels and departments within each hospital. From value analysis teams to supply chain, support service and revenue cycle councils, and from the c-suite and administration to clinicians and departmental leaders, Members engaged in meaningful collaboration throughout the entire year. In September, TPC hosted its largest annual Member event, the Value Analysis Team Summit (aka the Fall Classic), where teams from each Member collaborated on targeted initiatives, shared best practices, and fostered system relationships and networks to propel future gains. Through the dedication of its Members, TPC brought 2018 to a strong finish and has built a robust strategy and work plan for 2019.
TPC Welcomes a New Chairman
Since 2012, TPC has been honored to have Tim Lancaster, President and CEO of Hendrick Health System, serve at the helm of the TPC board as Chairman. As Tim retires from his roles at both Hendrick and TPC, all Members owe him a debt of gratitude for his vision, leadership and dedication to improving healthcare. Beginning in January 2019, Chris Glenney, CEO of CHRISTUS Health’s Northeast Texas Region, will assume the role of TPC Board Chairman. We look forward to the vision that Chris brings to the organization as we set the future course of TPC.
TPC Will Continue to Deliver for Its Members in 2019
TPC serves ten community-based health systems that include more than 20 hospitals and over 250 individual sites. We are truly Stronger Together and drive Superior Results. While the past year was both productive and successful for TPC, with new partners and Members, key initiatives, and substantial savings, we turn enthusiastically toward our 2019 goals – new initiatives, new programs and new opportunities.