Reaping the Benefits of Supplier Diversity

To increase diversity and promote inclusion, hospitals and health care systems are establishing strategic goals for supplier diversity. These health care organizations are making a deliberate effort to establish goals, track data - including spending and costs savings - and reach out to minority- and women-owned businesses to improve access to economic opportunities. .

There is a strong business imperative for focusing on supplier diversity. "An effective supplier diversity process drives economic impact; no supplier diversity process will ensure economic derailment,' says Todd Gray, director, supplier diversity, at Grady Health System in Atlanta. 'An effective supplier diversity process has a direct positive effect on the strength and loyalty of any organization's consumer base.' The University of Chicago Medicine launched its business diversity office in 2002 on the premise that "inclusive sourcing is a good business practice to help us save money,...