It may be uncomfortable to talk about health care prices, but it’s increasingly difficult to ignore the peanut shells in the parlor
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"Imagine running into your next-door neighbor in the parking lot of the local electronics store and discovering that you both are there to purchase one of the new motion detection video doorbells. You enter the store together, chatting about the weather. When you reach the doorbell display, your neighbor grabs two identical packages, hands one to you, and you proceed together to the checkout counter. Your neighbor engages in some small talk with the cashier, who rings up the price—$199—slips the doorbell into a small bag and nods to your neighbor who waves to you as he leaves. Handing the cashier your doorbell, you reach into your pocket for your wallet and then stare at the cash register in disbelief. The price of your doorbell: $928.
. . . Worried about spending two weeks in close proximity during a camping trip, two friends in Austin, Texas, decided to get tested for COVID-19. They went to a drive-through testing location together and received identical tests—both with negative results. One of the two friends paid cash while the other thought she should use her health insurance benefits. The facility charged the patient who paid in cash $199. His friend, who paid with insurance, was charged $6,408.
It’s difficult to pin down the origin of the idiom “the elephant in the room.”
It appeared in a 1959 New York Times article in which an issue was compared to an elephant in the living room, which is too big to ignore. Some trace it all the way back to an 1814 story by a Russian poet in which “The Inquisitive Man” goes to a museum and notices all sorts of tiny things but fails to notice the elephant. Whatever its origin, the term has come to conjure the existence of something that is obvious to everyone but is deliberately ignored.
It may be uncomfortable to talk about health care prices, but it’s increasingly difficult to ignore the peanut shells in the parlor.
About the author and the Vizient® Research Institute: As executive director of the Vizient Research Institute, Tom Robertson and his team have conducted strategic research on clinical enterprise challenges for 20 years. The groundbreaking work at the Vizient Research Institute drives exceptional member value using a systematic, integrated approach. The investigations quickly uncover practical, tested results that lead to measurable improvement in clinical and economic performance.
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Vizient to Acquire Intalere, Expanding its Supply Chain Capabilities
IRVING, Texas--(BUSINESS WIRE)--Vizient, Inc. today announces that it has signed an agreement under which it will acquire Intalere from Intermountain Healthcare, enhancing itself as a leader in the health care supply chain. Intermountain Healthcare will now partner with Vizient for supply chain solutions and services, thereby expanding their current relationship with Vizient in clinical and cost analytics.
.@VizientInc announces it has signed an agreement under which it will acquire @Intalere from @Intermountain Healthcare, enhancing its position as a leader in the #healthcare #supplychain. #hospitals
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“This acquisition builds on the strengths of both Vizient and Intalere and furthers our ability to meet the growing needs of the increasingly diverse range of members and customers we serve," said Byron Jobe, Vizient’s president and chief executive officer.
The planned acquisition will support and fuel Vizient’s mission to strengthen members’ delivery of high value care by aligning cost, quality and market performance by:
- Reinforcing our commitment to supply chain as a strategic asset for health care providers;
- Expanding our non-acute footprint to create additional opportunities through our Vizient subsidiary, Provista; and
- Increasing our presence in smaller and/or rural acute facilities, helping support these communities with local health care services.
“Intermountain Healthcare looks forward to continuing to work together with Vizient in our common goal of providing patients access to high-quality care at the most affordable cost,” said Bert Zimmerli, chief financial officer and executive vice president at Intermountain. “This aligns very well with our aspiration of executing a population health strategy by providing value-based care and services to an increased number of patients, families, and communities.”
The transaction is anticipated to close during Q1 2021, pending standard regulatory review. J.P. Morgan is serving as exclusive financial advisor to Intermountain Healthcare and Hall Render Killian Heath & Lyman P.C. is serving as counsel to Intermountain for the transaction. H2C Securities, Inc. is serving as Vizient’s exclusive financial advisor, and Greenberg Traurig, LLP is acting as Vizient’s legal advisor for the transaction.
About Vizient, Inc.
Vizient, Inc. provides solutions and services that improve the delivery of high-value care by aligning cost, quality and market performance for more than 50% of the nation’s acute care providers, which includes 95% of the nation’s academic medical centers, and more than 20% of ambulatory providers. Vizient provides expertise, analytics and advisory services, as well as a contract portfolio that represents more than $100 billion in annual purchasing volume, to improve patient outcomes and lower costs. Vizient has earned a World’s Most Ethical Company designation from the Ethisphere Institute every year since its inception. Headquartered in Irving, Texas, Vizient has offices throughout the United States. Learn more at www.vizientinc.com.
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