Amerinet Strengthens Market Position -- Reports Strong Growth and Members Savings for Fiscal-Year 2006.ST. LOUIS -- The Amerinet Board of Directors announced strong fiscal results for 2006, providing members with $330 million in contract portfolio savings on $6.5 billion in purchases resulting in $38 million returned to members. Additionally, Amerinet further strengthened its ability to improve members' efficiencies and operating margins Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: , when the company announced its initiative to optimize optimize - optimisation resources and streamline operations with the implementation of a new business model featuring a single national business platform. As a result, Amerinet realigned its board of directors and selected Victor E. Samolovitch as the new CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Todd Ebert was named the new president/COO, and Bert Zimmerli, senior vice president and CFO See Chief Financial Officer. of Intermountain Healthcare Intermountain Healthcare, formerly known as Intermountain Health Care (IHC), is a not-for-profit healthcare system and is the largest health care provider in the Intermountain West. Intermountain Healthcare provides hospital and other medical services in Utah, and Idaho. , assumed the role of board president. "The current challenges to improve margins in the health care industry require us to continue to create new value for our customers," said Samolovitch. "With a new business model, Amerinet can ensure that all members maximize the value of their membership with tools that match their strategic plans." This new initiative enables Amerinet to deliver standard-setting customer service and innovative margin improvement tools more efficiently and cost-effectively to its members under the umbrella of one strategic plan. Amerinet's new business model creates a unified national sales force, eliminates duplicative administrative functions and reduces redundant overhead costs overhead costs see fixed costs. . "By reducing organizational complexity Organizational Complexity may refer to:
pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. internal processes and information technology and business tools, Amerinet stands ready to create new business opportunities and better serve the marketplace," noted Ebert. With the new streamlined operations in place, Amerinet is now leveraging its unity to invest in research and program development in order to increase revenue growth and reduce cost associated for members to better improve the delivery of health care. To continue to provide additional member services and strengthen relationships with suppliers, Amerinet launched several new initiatives - including Enterprise Solutions, Revenue Cycle Management Solutions, a new Capital Solutions program, Decision Rx and increased Amerinet Choice offering to is members - all designed to improve efficiencies and members' bottom line. In addition, Amerinet further strengthened its relations with suppliers and announced the annual supplier wards. Enterprise Solutions The new Enterprise Solutions team's goal is to create synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. between Diagnostix and Amerinet Clinical Advantage teams as well as provide members with new cost-saving programs. The team includes a host of clinical specialists and the Diagnostix and Amerinet Clinical Advantage programs. Amerinet's clinical consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" help health care providers control costs while maintaining or improving the quality of patient care. With Diagnostix, members can identify and implement supply chain margin improvement initiatives. Through data management and analysis, Amerinet can help improve processes to generate and sustain hard-dollar savings. The Clinical Advantage program serves as Amerinet's keynote clinical consulting tool. It's a proven strategy for reducing high-dollar implant implant /im·plant/ (im-plant´) to insert or to graft (tissue, or inert or radioactive material) into intact tissues or a body cavity. costs. Last year, Clinical Advantage helped health care providers lower costs by providing nearly $14 million in savings on implant items. "In 2007, with the new Enterprise Solutions initiatives, our members will have the ability to achieve even more with the most effective cost-saving programs in the industry through a holistic approach holistic approach A term used in alternative health for a philosophical approach to health care, in which the entire Pt is evaluated and treated. See Alternative medicine, Holistic medicine. to delivering solutions and improving efficiencies," explained Randall Walter, executive vice president, supply chain and Enterprise Solutions. Amerinet Choice[R] The Amerinet Choice product line is one of the highest growth areas for Amerinet since the organization introduced it in 1999, with $95 million in sales last year. Amerinet Choice products are manufactured by leading suppliers with reputations for exceptionally high standards - in many cases the same companies that manufacture the top name brands. The Amerinet Choice exceeded its goal of adding new products to the product line in 2006 by nearly 20 percent. Revenue Cycle Management Solutions Revenue cycle management solutions is a new margin improvement tool for health care providers to increase net revenue, increase net collection percentage, reduce the cost of collections and make cash flow more predictable. Consisting of assessment and implementation services offered in partnership with ACS (Asynchronous Communications Server) See network access server. Healthcare Solutions and software from Craneware, Amerinet revenue cycle solutions enable health care providers to identify and implement margin improvement initiatives in each phase of patient interaction Capital Solutions Amerinet Capital Solutions program was designed to provide comprehensive, end-to-end solutions (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. to Amerinet members with resources to address all of their challenges related to raising and allocating capital funds. The savings offered through the three Amerinet Capital Solutions portfolios - construction and renovation, medical equipment, and information technology (IT) - can help health care providers maximize their capital investments. Amerinet Decision Rx Amerinet Decision Rx provides members with valuable tools to help them make educated pharmacy supply chain decisions. The three components of the program - Amerinet Pharmacy Price Management, Amerinet Pharmacy Price Auditing and Amerinet Pharmacy Optimization optimization Field of applied mathematics whose principles and methods are used to solve quantitative problems in disciplines including physics, biology, engineering, and economics. - were designed to help members utilize contracts and resources more effectively and better manage purchases across the entire pharmacy supply chain from manufacturer to end user. Supplier Performance Awards "Amerinet continually strives to work with our suppliers to enhance savings opportunities and provide supply chain solutions to our members," said Allen Dunehew, Amerinet's chief contracting officer A US military officer or civilian employee who has a valid appointment as a contracting officer under the provisions of the Federal Acquisition Regulation. The individual has the authority to enter into and administer contracts and determinations as well as findings about such contracts. . As a result, Amerinet announced the winners of its annual Supplier Performance awards in 2006 for their excellent performance in building the organization's network of solutions and for partnerships that deliver outstanding customer service and margin improvement tools to Amerinet members. This year's winners were: [TABLE OMITTED] Dunehew added, "These suppliers were recognized for demonstrating significant growth and providing Amerinet members with outstanding services." In the end, Amerinet strengthened its ability to further meet its mission to promote health care delivery and help all types of providers more effectively manage non-labor expenses. In 2007, Amerinet will continue its path of continued improvement by strengthening supplier relationships to better meet members' goals. About Amerinet Amerinet is one of the most innovative and effective health care group purchasing organizations A group purchasing organization is an entity that leverages the purchasing power of a group of businesses to obtain discounts from vendors based on the collective buying power of the GPO members. Many GPOs are funded by administrative fees that are actually paid by the vendors. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , partnering with members to improve their operating margins. More and more hospitals and non-acute care facilities create new revenue and reduce expenses with Amerinet's tools for group purchasing, supply chain management, clinical consulting, revenue cycle management, and information and education. |
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