May 4, 2022 – Vizient Inc. and RISCS, Inc. announced a joint pilot program aimed at enhancing assurance of pharmaceutical supply. Once implemented, the program would use a rating system to enable the evaluation of critical aspects of a resilient supply chain and provide increased transparency.
During the pilot, pharmacy suppliers will be asked to provide key information on their supply chains through the request-for-proposal process. The information provided will enable visibility into supply chain aspects such as redundancy in raw material supply, available production capacity and production flexibility, inventory practices, location differentiation and geopolitical risks.
“Our mission at RISCS is to help ensure a sustainable supply of essential medicines and Vizient has been a critical member of our RISCS Advisory Panel, which has developed our RISC Rating System™ framework,” said Stephen Colvill, Executive Director of RISCS. “We welcome Vizient’s partnership in piloting the incorporation of the RISC Rating System™ into their contracting decisions.”
Vizient is the largest member-driven health care performance improvement company in the U.S. Vizient’s diverse membership and customer base includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute health care providers
“Transparency throughout the health care supply chain is key to mitigating disruptions. From the sourcing of raw materials to the delivery of the finished product, providers need that visibility to mitigate potential supply disruptions that impact their ability to care for patients,” said Mittal Sutaria, Vizient Senior Vice President, Pharmacy Contract and Program Solutions. “Solving drug shortages is within reach, and improving transparency is the first step toward the solution.”