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HealthTrust and Ardent Health Services Renew Long-Standing GPO Agreement
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Rhea-AI Summary
HealthTrust Performance Group and Ardent Health Services have renewed their long-term partnership for supply chain management and group purchasing. This new ten-year agreement ensures Ardent providers have access to favorable pricing and contracting across a wide range of healthcare supplies. Ardent operates 30 hospitals and nearly 200 non-acute care sites, handling over 2.7 million patient encounters annually. Both organizations emphasized the importance of sustainability in supply services amid recent supply chain disruptions.
Positive
Renewed a ten-year partnership improving supply chain and group purchasing.
Ensured pricing advantages and better contract terms for Ardent providers.
Strong operational history with over 2.7 million annual patient encounters.
Negative
None.
NASHVILLE, Tenn.--(BUSINESS WIRE)--
HealthTrust Performance Group, a comprehensive healthcare improvement organization, and Ardent Health Services, one of the largest private integrated health systems in the U.S., today announced the renewal of their exclusive, decades-long relationship for supply chain resiliency and group purchasing. Under a new ten-year agreement, Ardent providers are assured of advantages in pricing and contracting across a broad portfolio of healthcare supplies and services.
Ardent Health Services’ network encompasses 30 hospitals and nearly 200 non-acute sites of care across six states. Each year, Ardent providers deliver over 2.7 million patient encounters. HealthTrust helps health systems across the U.S. and the United Kingdom improve performance by aggregating purchasing power and executing operational improvements leveraging clinical integration best-practices.
“We are pleased to extend our strategic, long-term relationship with HealthTrust,” said Marty Bonick, president and CEO of Ardent Health Services. “Given many disruptions in the supply chain environment over the last two years, HealthTrust and its approach to contracting has clearly demonstrated the ability to maintain supply/service levels and contain costs by defending against mid-term increases from vendors. Renewing this relationship instills confidence and will help ensure continuity of care for our patients, staff and communities.”
“Ardent and HealthTrust have evolved together and cemented a remarkable relationship over many years,” stated Ed Jones, HealthTrust president and chief executive officer. “I’m appreciative of the mutual growth we have experienced and today’s announcement affirms our commitment to the future. Helping Ardent and all members battle today’s inflationary pressures is vitally important to our mission. We will continue to do everything possible to navigate together through these uncertain and highly disruptive times.”
About HealthTrust
HealthTrust (HealthTrust Purchasing Group, L.P.) is committed to strengthening provider performance and clinical excellence through an aligned membership model and the delivery of total spend management advisory solutions that leverage operator experience, scale and innovation. Headquartered in Nashville, Tennessee, HealthTrust serves over 1,800 hospitals and health systems, and more than 57,000 non-acute locations including ambulatory surgery centers, physician practices, long-term care and alternate care sites in the U.S. and the United Kingdom. HealthTrust has earned designation as a Top Workplace in Middle Tennessee.
About Ardent Health Services
Ardent Health Services invests in people, technology and communities. Through its subsidiaries, Ardent owns and operates 30 hospitals and nearly 200 sites of care in six states with more than 24,000 employees, including 1,200+ employed providers. With a focus on evidence-based practices to improve quality care and patient outcomes, 95% of eligible Ardent hospitals received a Leapfrog Hospital Safety Grade of A or B for Fall 2022, compared with 57% of all ranked U.S. hospitals. In 2022, Modern Healthcare recognized six Ardent entities as “Best Places to Work,” marking the 14th consecutive year an Ardent facility was recognized. Based in Nashville, Tennessee, Ardent is owned by current and former members of Ardent’s management team; Equity Group Investments (EGI), a Chicago-based private investment firm; and Ventas, Inc. (NYSE: VTR), a publicly traded real estate investment trust.
What is the significance of the HealthTrust and Ardent partnership renewal for VTR investors?
The renewal secures favorable pricing and contracting for Ardent Health Services, potentially stabilizing operational costs and improving efficiency, which is beneficial for VTR investors.
How does the new agreement impact Ardent's operations?
The ten-year agreement enhances supply chain resilience, ensuring consistent supply levels and cost containment amid ongoing inflationary pressures.
What kind of services does HealthTrust provide under the new agreement with Ardent?
HealthTrust provides aggregate purchasing power and operational improvements, focusing on supply chain efficiencies and price stability for healthcare supplies.
What are the key benefits of the partnership for healthcare delivery?
The partnership aims to enhance supply chain resilience, ensuring continuity of care and improved service levels for patients and healthcare providers.
