Company Profile:
GNYHA Ventures, Inc. (GNYHA Ventures) is a wholly-owned for-profit subsidiary of Greater New York Hospital Association (GNYHA). GNYHA is a Section 501(c)(6) not-for-profit organization that represents the interests of nearly 300 not-for-profit hospitals and continuing care facilities, both voluntary and public, in the New York City metropolitan area, throughout New York State, and in New Jersey, Connecticut, and Rhode Island. Its offices and the offices of all of its subsidiary companies are headquartered in New York City.
GNYHA offers a wide variety of advocacy and support services to members and customers and assists these health care providers in improving access to, as well as the quality and cost of, health care. Among those services are quality improvement and patient safety, emergency preparedness, and managing health care resources. It also offers a number of services that are intended to assist hospitals' operations, including group purchasing services to help members save costs on the purchase of pharmaceutical, medical-surgical supplies, and other supply chain costs, and fee-for-service consulting services.
GNYHA's acute care group purchasing activities are conducted through GNYHA Services, Inc. (GNYHA Services), a wholly-owned for profit subsidiary of GNYHA Ventures, which is ultimately owned by GNYHA. Members of GNYHA and other hospitals participate in the GNYHA Services group purchasing program. Participation is free of charge to participants. Approximately 256 hospitals, primarily located in the New York/New Jersey/Connecticut area participate in GNYHA Services's group purchasing program, and approximately $3.7 billion in purchasing is conducted through the GNYHA Service's purchasing program, including purchases made through the national program offered through Premier and wholesaler volume.
GNYHA Services offers a wide range of group purchasing services to participants, ranging from traditional contract negotiation and administration services to in-depth support services such as an extensive clinical pharmacy program that provides clinical pharmacy support services in the form of educational programs and formulary management toolkits, and assists members in cost effective formulary drug use.
GNYHA Ventures also owns 50% of Innovatix, LLC, a group purchasing organization for alternate site providers in a variety of classes of trade. Premier, Inc. owns the other 50% of the company. Innovatix is a for-profit entity that is headquartered in New York City. Innovatix is also a member of HGPII, and services participants throughout the United States and has over 10,000 participants in various alternate care classes of trade. Participation is free of charge to participants, and participants receive a array of services including contract negotiation and administrative services, intensive customer service, and a wide array of educational programs.
