“This new requirement is an
opportunity for healthcare distributors to engage with local partners to
help them better understand the healthcare supply chain and improve
preparedness, response, and recovery efforts before an event occurs,”
said Mary Beth Spencer, HIDA Senior Manager of Government Affairs.
Contracting
The Supply Chain Must Be Ready When Confronted With M&A.
The supply chain will be a top-five focus area for savings and
efficiency immediately following a takeover or merger, according to an
experienced transaction advisor. To be ready for this transition, all
parties must accept change and agree to do things differently. These new
partners also need to strengthen their analytical capability and be
prepared to make evaluations both on cost and benefit to patients.
Lastly, each party that engages with the supply chain continuum should
show the good work they do and be poised to deliver value on the first
day of integration and beyond.
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Distribution & Logistics
Collaboration Needed As Logistics Costs Rise. US business logistics costs rose 11.4% in 2018 to reach a total of 8% of
GDP, a jump of 50 basis points over 2017, according to a recent
analysis. Supply chain leaders across a range of industries shared tips
for coping with rising costs. The most important steps are working
closely with carriers and other logistics partners and finding ways to
reduce the time trucks spend getting into and out of facilities. Clear
lines of communication and providing visibility into any potential
delays can help all parties accomplish more, analysts comment.
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Supply & Demand
USTR Announces Tariff Increase. The United States Trade
Representative announced that it would increase tariffs by 5% across
all four product lists it has released. These lists total $550 billion
in Chinese imports. The move follows an earlier announcement from China
saying they will further raise tariffs on imported U.S. goods. HIDA
Government Affairs has compiled helpful links to federal announcements
and resources that can help further inform the healthcare supply chain
about this issue.
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Digital Supply Chain
Providers Plan To Invest In Predictive Analytics. Sixty percent of payers and providers plan to commit 15% of their spending to predictive analytics this year, according to a new survey. The majority of those surveyed expect these investments will pay off, saving 15% or more over the next five years. Nearly two-thirds of executives are using predictive analytics within their organization, a 13-point increase from last year. When it comes to predictive analytics, 23% of payer and provider executives believe the future lies within data visualization, while 16% are focused on machine learning.
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Resources:
- Tariff Tracking Tool: New resource for tracking key dates and regulatory information on proposed tariffs.
- 2019 Post-Acute Market Report: New HIDA research that examines the regulatory, market, and demographic factors affecting long-term care providers.
