AHRMM On-Demand Spring Summit Session: Strategic Cost Management

Product Code: 314ODSS24C

Member: $35.00
Non-Member: $69.00



STRATEGIC COST MANAGEMENT: Striking a Balance: Mastering Cost Management in the Health Care Supply Chain 
Discover approaches to enhancing cost efficiency by exploring avenues for savings beyond traditional procurement methods. Strategies for recognizing and proactively addressing risks inherent in cost management practices will be presented as well as how to foster resilience and sustainability to uphold operational excellence.
Learning Objectives:
  • Describe ways to optimize indirect spend within the health care supply chain, identifying cost-saving opportunities in areas beyond direct procurement.
  • Identify and mitigate risks associated with cost management in the health care supply chain, ensuring sustainable and resilient operations.
Joseph Jang - Partner, Pathstone Partners
Joseph is currently a Partner at Pathstone, an advisory firm that drives and sustains margin improvement for healthcare organizations. Joseph developed a strong passion to work in healthcare as he witnessed significant health disparities in terms of affordability and access growing up in Manila, Philippines. Joseph has over 15 years of experience partnering with over 40 healthcare organizations to drive over $500M+ margin improvement through total non-labor cost reduction and revenue enhancement initiatives in purchased services, pharmacy, lab, finance, revenue cycle, IT and clinical supplies. Outside of work, you can find Joseph spending quality time with his wife and three kids, cheering for the Michigan Wolverines, serving his church and local community, singing, and writing his own music. Joseph holds an MBA with distinction, from the Kellogg School of Management at Northwestern University. He also earned a BBA from the Ross School of Business at the University of Michigan.

Mark Terranova Associate Vice President of Supply Chain Management, SUNY University Hospital at Downstate
Mark recently joined SUNY University Hospital at Downstate as the Associate Vice President of Supply Chain Management. In a short time he has reestablished the Supply Chain process by selecting a new ERP, implementing a process to manage the item master, contract pricing while creating a closed loop for product requests and many other good management principles. He has moved supply chain initiatives started by consulting firms into operational management procedures to achieve best practices. Formerly and for the previous nine years Mark served as Vice President of Supply Chain for Grady Health System, where he provided innovative solutions and leadership to all aspects of the Grady Health System supply chain including thriving during the pandemic with no stockouts and using creative means, engaging the community to support the patient population. His broad background in all aspects of the supply chain allow him to deliver results that improve operational efficiency and lower operating costs while improving employee engagement. He has successfully implemented supplier diversity processes at Grady Health System to exceed and sustain the annual goal of 20% of total spend committed to diverse suppliers. In addition, his specific expertise includes cost reduction strategies, strategic visioning, integration of value analysis (CQO), high compliance PPI (physician preference item) contracting and implementing a high compliance GPO (Excelerate), benchmarking, capital life cycle cost analysis and using information as an economic tool, retrieving and constructing, managing and leveraging supply chain data as a formal business asset to drive supply chain savings and support the decision making process.