In a year where every little success can feel like a massive accomplishment, Z5 Inventory actually accomplished some massive things.
We were thrilled to announce that Steward Health Care was able to save more than $16 Million in six months by partnering with us to reallocate slow-moving and excess product, which led to a nearly $3 Million donation of medical products to charities.
That project was not only the latest example of the massive cost avoidance opportunity hospitals have at their disposal, but showed Steward Health Care and us how we could improve the process to rescue even more product from expiration in the future.
(Keep your eye on this space for an in-depth discussion of how the process works and could be coming to your hospitals next.)
We're proud of the fact that it not only gives us an opportunity to show off the successes of our clients - like Steward Health Care looking toward the future of supply chain management - and industry leaders - like Onsite-LLC preventing infection by monitoring air quality - but our own unique perspective gained by seeing both the healthcare and supply chain industries at once.
We weren't the only ones who thought what we were doing was worth attention. Outlets like Startup.info profiled our CEO, Carl Natenstedt, and highlighted how - despite all the challenges hospitals have faced this year - Z5 Inventory continues to help hospitals track their on-hand inventory and find savings opportunities in their excess.
And our own Austin American-Statesman talked to us about our 50 For 50 program back in April. (Remember April, when we'd only been on lockdown for a month or so and thought it might end any day? What an innocent time.)
"We got involved in the health care industry in the first place because we want to help others... We have this great opportunity to celebrate the improvements our customers are making by making improvements in the lives of other communities.”
Speaking of that initiative where Z5 gifts $5000 to charities nominated by you, it's still going on! Our first recipient was the wonderful supporter of children in institutional care, Miracle Foundation, and our most recent recipient was the deserving array of family programs provided by Sheppard Pratt.
And the next recipient could be your favorite charity. You don't have to be a Z5 customer to nominate a nonprofit that is important to you. As long as it's a registered 501(c)(3), it can go into our next random drawing for a $5000 donation.
These were just a few of our favorite things from this year. Because there were so many other stories we didn't have room for here, we're hopeful for bigger and better things coming in 2021, and hopefully you are, too.
If not, and you're skeptical of the idea that U.S. healthcare could continue to improve, might we suggest finding a partner dedicated to lowering the cost of healthcare and making the world a better place?