Responsible for Strategic Sourcing which is the practice of supplier selection based on the intersection of cost, quality and outcomes (CQO). CQO extends from conception of need through to disposition and emphasizes on selection not on a first-cost basis, but on costs of the whole experience of the product/service and the impact to departments and patients within the organization.
It calls for establishment of close client relationships to ensure needs, test policies driving demand, and establish open specifications and the understanding of the intersection of cost, quality and outcomes and the importance of such in the operational framework of healthcare. This is done through a Value analysis process. The sourcing leader will prepare all analysis and pertinent information for the Chair of the respective Value Analysis Team and will assist the chair in facilitating the meetings. While savings are the most commonly understood measure of its work, Strategic Sourcing adds significant value to clarity of specifications of need, integrity of the supplier selection process, open evaluations of purchasing alternatives viewed through the CQO evaluation methodology, contract documentation, ease of supplier implementations, supplier performance measurement and reporting, and confidence the organization benefits from decisions made on a CQO basis
Essential Duties and Responsibilities
Demonstrates knowledge of the organization’s Service and Financial Standards and incorporates them into the performance of duties.
Value Analysis and Sourcing Team Management – responsible for leading a team to reach an annual savings goal
Direct, manage, and orient Value Analysis staff.
Educate and orient client Value Analysis Team members regarding processes and their role on teams.
Collaborate with multidisciplinary Value Analysis team Chairs, Champions, and Team members.
Collaborate with Buyers and Analysts in support of the Value Analysis function. Relationship Management – Effectively communicate with all stakeholders; Building relationships with clinical and nonclinical customers throughout the hospital management structure in order to ensure Sourcing involvement in appropriate aspects of needs throughout hospital operations.
Assess Needs and Initiate Sourcing Projects - Initiates new projects based on high spend profile, potential for savings, upcoming contract expirations, supplier impacts and capital projects. Assist internal clients to specify needs and define supplier performance expectations. Analyze and validate policies and practices driving demand.
Defines sourcing strategies that optimize value in light of client needs, market conditions, and healthcare industry statistics.
Assess most beneficial means to access markets and drive the supplier behavior accordingly.
Market Evaluations - Gathers and interprets market and competitive intelligence through formal and informal processes. Advocates competitive decision-making in the most efficient, least resource-intense process. Evaluates supplier capabilities to meet our needs through fair and thorough techniques. Looks forward to products within the FDA premarket approval processes to understand and prepare for emerging technology.
Supplier Selection- Establishes business cases supporting sourcing recommendations based on input from various sources.
Project Management - Possesses the ability to lead projects using the full complement of resources available within the hospital. Must be able to interact with all areas of the project team and direct them to project completion. Applies project management skills that achieve project timing, and service and savings objectives.
Analytical Skills - Must possess the skills to interpret and analyze data both financially and clinically in order to present and interpret outcomes. Must be able to explain and convey data to all end users.
Implementation and Supplier Relationship Management - Partners with internal clients to implement efficient ordering routines that include appropriate controls within healthcare operations. Assists departments to implement sourcing changes, especially if moving to a new supplier and for more significant spends and services.
Authors policies that drive demand and introduce and enforce appropriate behaviors in relation to suppliers.
Contract Background - Must be able to negotiate contracts, terms and conditions, and ramifications of contractual verbiage as it relates to the product, service, supplier in question and those ramifications within the hospital. Develop contracts supporting our business requirements, including clearly defined service expectations/goods specifications, performance measurement practices and shortfall remedies.
Works with Implementations Manager, Finance and departments to quantify the budget impacts of implementing new contracts (i.e., savings). With IT, establish automated processes to enable efficient supplier interfaces in a controlled, integrated and cost-effective manner. With internal clients, periodically review supplier effectiveness; remain abreast of evolving internal client needs and keep clients aware of evolving market capabilities.
Becoming a Business Advisor - Creating valued business partnerships with internal customers; proactively identifying cost savings opportunities for the customer; conveying a firm understanding of the customer’s business and political drivers
Master’s Business Administration or Master’s in Science or Healthcare related field or Other Advanced Degree such as JD, RN, NP
Minimum of 10 years’ experience related to strategic sourcing responsibilities for various commodities—both products and services within healthcare organizations.
Licensing and Certification Requirements (if applicable)
Certified Materials Resource Professional (CMRP) or other recognized certification. Equivalents accepted upon review
The Mount Sinai Health System is an integrated health care system providing exceptional medical care to our local and global communities.
Encompassing the Icahn School of Medicine at Mount Sinai and eight hospital campuses in the New York metropolitan area, as well as a large, regional ambulatory footprint, Mount Sinai is internationally acclaimed for its excellence in research, patient care, and education across a range of specialties. The Mount Sinai Health System was created from the combination of the Mount Sinai Medical Center and Continuum Health Partners, which both agreed unanimously to combine the two entities in July 2013.
The Health System is designed to increase efficiencies and economies of scale; improve quality and outcomes; and expand access to advanced primary, specialty, and ambulatory care services throughout a wide clinical network. The Health System includes more than 7,200 physicians, including general practitioners and specialists, and 13 free-standing joint-venture centers. Mount Sinai also features a robust and continually expanding network of multispecialty services, including more than 400 ambulatory practice locations throughout the five boroughs o...f New York City, Westchester, and Long Island. With an extraordinary array of resources for the provision of compassionate, state-of-the-art care, the Mount Sinai Health System is poised to identify and respond to the health-related needs of the diverse populations we serve.