July 17 - 18, 2019
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Supplier Management Optimization: Pioneering with Purpose
Siemens Medical Solutions has a simple motto for the way they do business: “Engineering Success. Pioneering Healthcare. Together.”
As a leader in global healthcare, Siemens is dedicated to implementing innovative approaches to medical imaging, laboratory diagnostics, and consulting, and it is already carving a path to new technologies within therapeutic and molecular diagnostics.
When it comes to optimizing supplier management, Siemens has the process down to a science. By building robust industry partnerships, Siemens has taken a bold strategic approach to implementing greater cost-efficiency and problem-solving within the complex landscape of healthcare.
But how does Siemens succeed in developing innovations where so many others fail?
Thomas Posauner, Global Vice President of Supplier Strategy and Supplier Management of Procurement, has witnessed Siemens' transformation into a globalized enterprise boasting 19 integrated programs worldwide. This metamorphosis was catalyzed by rapid shifts in the healthcare market, resulting in increases in imaging and diagnostics, and a gradual decrease in funding for them.
Simultaneously, the emphasis placed on quality of care has grown significantly, and healthcare providers must meet the challenge of both improving outcomes and efficiency, and reducing costs along the way.
Healthcare providers are in uncharted waters, and the pressures of continual efficiencies across clinical, operational, and financial channels are threatening to sink them.
Supplier Management Findings
- While the number of imaging and radio-diagnostic examinations in the UK has increased by 43% from 2000 until 2003, the growth of real-term funding has stalled over the same period and is expected to go down by 2% by 2020.
- In the US, 90% of payments are expected to correlate to quality or outcomes (such as a reduced hospital readmission rate) by 2018.
- Some partners with Siemens saw 83% improvement in resolution times, 90% reduction in equipment damage costs, and 25% lower administrative costs.
Siemens' has adapted to these changes by leveraging the full power of its procurement capabilities.
From providing standard service reports to optimizing lifecycle, Siemens is dedicated to serving as a reliable partner in deploying medical equipment and services in a comprehensive and risk averse manner. The company is committed to maximizing value for its clients, minimizing risks, and delivering against Siemen’s strategic goals.
Siemens' pioneering spirit, emblemized by its motto, is balanced with a firm adherence to compliance measures, control and standardization of processes, and alignment with its business objectives.
Supplier management insight, straight from Siemens
There are a multitude of lessons to be learned from Siemens' success story – that’s why we’ve invited Thomas Posauner, a procurement expert, to join us at ProcureCon Direct and share the nuts and bolts of supplier management.
For more information about the conference, please click here.
Katie Koppel is a freelance writer based in Boston. She specializes in business and health-related content, and can be reached here.