Anand Joshi was on track to become a physician. It was what he had aimed for since he was a little boy watching his mom, an anesthesiologist, come home for dinner still in her scrubs.
But along the way, he earned a business degreealong with his medical degree. As a result, the world lost a doc, but gained a gifted procurement specialist who understands how physicians think and can talk their language.
As clinical procurement director at 2,163-bed New York-Presbyterian Hospital, Joshi leads sourcing efforts that shape a $400 million clinical products budget. He has developed physician preference committees that evaluate new products for high-cost areas like electrophysiology, interventional cardiology, interventional radiology, vascular surgery, and endoscopyand says those efforts have saved the hospital about $10 million a year over the past three years.
Almost none of this was my plan, Joshi says. The opportunity to do the MBA came up almost two years into my med school time. I thought Id take a year and see things from a different perspective. Once I was exposed to business elements and introduced to consulting, I migrated away from clinical practice.
But he completed his M.D. degree anyway, and he says those two letters give him credibility with physicians that pure business types cant match.
When youve spent two or three years on the floor, you get a sense of what physicians may be thinking about, he says. His goal in working with physicians isnt so much to get standardized preferences but to ensure that the hospital gets the maximum value from the physicians choices and its own purchasing clout.
From a traditional purchasing standpoint, proliferation is bad, but if the devices are better, we can provide better healthcare, he says.
By systematically building physicians into the product evaluation and selection process, Joshi has established enough trust that they dont often try to bypass him to work directly with vendors. While theres probably still the occasional side dealWere an enormous institution and we dont have the bandwidth to track everything, he saysvirtually all clinical products are on a contract of some kind.
There has to be a way to get the best technology at a price that can still allow us to function as a hospital, he says. New York-Presbyterian is always doing cutting-edge work in every field. My teams role is to get the best patient-care technology at the best contracted price.