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May 20, 2022

Salinas Valley Memorial earns cost-savings award

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SALINAS — Salinas Valley Memorial Healthcare System (SVMHS) is getting national recognition after receiving the 2017 Cost Management and Savings Leadership Award from Vizient, Inc.

The award recognizes Salinas Valley Memorial for achieving the highest performance in cost management leading to exceptional financial savings and value.

The savings was achieved through a combination of efforts, including identifying opportunities in the pharmacy and other contracts that could be renegotiated in a way that benefited the Healthcare District.

“As a public district hospital, we have the responsibility to maintain high standards of accountability for costs and expenses,” says Pete Delgado, president/CEO of Salinas Valley Memorial Healthcare System. “This award is further evidence the Healthcare System takes that responsibility seriously and is working aggressively to manage expenses while providing exceptional quality and compassionate care to our community.”

“We congratulate Salinas Valley Memorial Healthcare System for their achievements in realized savings in 2016, which were nearly 10 percent for the organization as a whole,” said Rand Ballard, Chief Customer Officer for Vizient, Inc. “The savings were achieved through the efforts of dedicated supply chain staff identifying cost reduction opportunities and then engaging other stakeholders to get new contracts implemented in multiple areas including pharmacy.”

Vizient, Inc. is a healthcare performance improvement company that works with hospitals throughout the country in finding solutions to lowering costs while improving patient outcomes.

The company also focus on helping hospitals accelerate performance improvement and operational efficiency.

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