How $163B in inventory is lost annually and 10 more supply chain updates

Here are 11 supply chain updates for ASC leaders to know that Becker's has reported since Nov. 9:

1. Bavarian Nordic earned $1 billion in its third quarter — more than twice its revenue in the same period last year. The Denmark-based pharmaceutical company said the "all-time high revenues" were largely because of sales of Jynneos, the only approved monkeypox vaccine. 

2. Gartner determined what health systems have the strongest supply chains using community opinions and quantitative data. The full list can be found here

3. Here is a list of 13 health systems that have opted to outsource finance jobs or other revenue cycle functions in 2022.

4. A report found that about 8 percent of global stock perishes or is thrown away every year, translating to about $163 billion worth of wasted inventory. More details from the report can be found here.

5. New York City-based Mount Sinai Health System was recognized by the United Nations for its ongoing action to decarbonize the healthcare sector. Since 2005, Mount Sinai has reduced its energy-related carbon footprint by 30 percent.

6. Here are 10 health systems and hospitals that posted job listings seeking supply chain expertise in the last week.

7. Intuitive Surgical CEO Gary Guthart likened the ongoing supply chain issues to "an old Western movie bar fight" at a recent conference. To find out why, read more here.

8. Cash reserves are dropping for hospitals and health systems across the U.S. Both large and small health systems are affected by rising labor and supply costs while reimbursement remains low. Days cash on hand dropped from 336 at the end of the 2021 fiscal year to 259 as of June 30, the end of the fiscal year.

9. From 2001 to 2021, the cost of healthcare increased faster (3.3 percent) than the cost of all goods and services (2.2 percent). With U.S. inflation hitting its highest point in 40 years, consumers are unsure whether they can afford medical care, according to a survey conducted by Deloitte.

10. A severe flu season could not only strain hospitals but also threaten the nation's blood supply this winter. The Red Cross said an increase in seasonal illnesses is typically associated with a decrease in healthy blood donors and urged blood and platelet donors to give now to help prevent potential supply issues.

11. Intermountain Healthcare will expand its Supply Chain Center, which opened in 2012, to include an additional 38,000 square feet of warehouse space and 10,000 square feet of pharmacy space by 2024. The Salt Lake City-based health system said the expansion will further streamline its medical supply and lower costs.


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