Cardinal Health Statistics is a healthcare products and services company. It provides customized solutions for hospitals, health systems, pharmacies, clinical laboratories, ambulatory surgery centers, and healthcare systems. And also offers medical and pharmaceutical products as well as cost-effective solutions that improve supply chain efficiency. It operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes brand and generic specialty over-the-counter, pharmaceutical, pharmaceutical, and healthcare products and consumer products. The Medical segment manufactures and distributes Cardinal Health-branded surgical, medical, and laboratory products. Cardinal Health was founded in 1971 by Robert D. Walter and has its headquarters in Dublin, OH.
Cardinal Health Inc. is a vital link between the operational and clinical sides of delivering end-to-end solutions, healthcare, and data-driving insights that improve lives every day and advance healthcare. With innovative digital solutions, diverse perspectives, and deep partnerships the company has built connections. Cardinal Health has more than 49 years of experience, they tend to grab the opportunity to address the most complicated challenges regarding healthcare.
Products:
Cardinal Health has industry expertise as well as a wide range of safe and efficient products that can improve quality, control costs, and reduce complexity. The company’s trusted regulatory insight, infrastructure, and trustworthiness help us source and manufacture products that provide comprehensive and value-driven healthcare solutions. Some of the services provided are mentioned below.
- Medical Products and Supplies
Cardinal Health’s medical products connect that gap between the growing demand for quality and increased savings. Cardinal Health’s portfolio is offering cost-efficient products, and clinician preferences, and helps providers improve the bottom line while delivering high-quality care. They are uniquely placed to keep pace and find product efficiencies that help care move forward, as they work from the acute to the home channel.
- Pharmaceutical Products
Cardinal Health offers affordable, and high-quality pharmaceuticals. Even if it is newly launched generics, radiopharmaceuticals, time-sensitive specialty pharmaceuticals, or over-the-counter medicines, the company’s products meet the many diverse needs of providers. Cardinal Health’s vast distribution network allows delivering these products every day to the provider partners across the country.
- Home Healthcare Products
Cardinal Health Inc.’s hospital-quality products are provided at home and also comfort, improve safety, and mobility.
- Personal Care Products
Distinctive incontinence products provided by Cardinal Health make feel confident and comfortable.
Services:
Cardinal Health understands that healthcare is everywhere. They offer a range of healthcare solutions that help healthcare providers and patients across the continuum. The solutions, make it easier for them to work more efficiently, better serve patients, and make it easier for healthcare systems to work smarter. Some of the services provided are mentioned below
- Ambulatory Surgery Centers
A complete strategy for success at a surgery center. The services range from high-quality medical supplies to customized services that maximize savings and efficiency.
- Community Health Centers
Improve care. Expand services. Maximize Resources. Cardinal Health can help build Community Health Center Solutions.
- Hospital and Health System Solutions
Cardinal Health aligns its resources with your capabilities and requirements, helping hospitals or networks to remain resilient and responsive.
- Laboratory Services
Clinical labs are now under greater pressure than ever. Cardinal Health provides solutions and services that ease the pressure on clinical labs, and improve quality, efficiency, and cost savings.
- Manufacturer Overview
Cardinal Health develops sophisticated solutions, to help control costs and improve visibility over all devices, implantables, and pharmaceuticals. They are the industry experts and have more than 4,500 sourcing and manufacturing partners throughout the healthcare supply chains. This allows them to help bring products onto the market.
- Long-Term Care
Cardinal Health has developed customized strategies for long-term care businesses that improve clinical outcomes and drive efficiencies.
- Specialty Physician Practice
Cardinal Health Specialty Solutions enables community-based specialty physician clinics and practices to thrive in a rapidly changing healthcare environment. The user’s practice can be future-proofed by providing high-quality and cost-effective patient care. They will have access to expert advice, personalized service, innovative technology solutions, enhanced purchasing power, and improved purchasing power.
Statistics:
Cardinal Health Inc.’s Annual Revenue
This graph displays Cardinal Health’s annual revenue from fiscal years 2011 through 2021. The company earned a record-breaking 162,470 million U.S. Dollars in FY 2021, compared to 152,920 million in FY 2020.
Cardinal Health Inc.’s Annual Revenue by Segment
Cardinal Health’s largest revenue source is its pharmaceutical segment. Nearly 145,800 million U.S. dollars of revenue were generated by the pharmaceutical division in FY 2021.
Cardinal Health Inc.’s Annual Revenue by Sub-Segment
The pharmaceutical segment generated 145,000 million U.S. dollars in revenue for FY 2021. This includes 145,000 million in the Sub-Segment Specialty Solutions and Pharmaceutical Distribution.
Cardinal Health Inc.’s Number of Employees
Cardinal Health had around 28,000 U.S. workers before July 2017. The Medtronic acquisition of the Patient Rehabilitation Business explains the substantial increase in employees over July 2017.
Cardinal Health Inc.’s Annual Revenue Abroad vs the U.S.
This graph shows Cardinal Health’s annual revenue for fiscal years 2016-2021. It compares revenues from the U.S. and revenues generated overseas. The company’s revenues were 157,760 million U.S. Dollars in the U.S. during FY 2021, as compared to 4,730 million dollars abroad.
Peer Comparison:
The Future Path for HealthCare
Innovative solutions that harness the power and potential of technology are needed to address the extraordinary pressures faced by the health care industry. Innovations can improve visibility into the supply chains, increase efficiency, eliminate manual tasks, and save time for healthcare providers.
- Accelerating digital transformation.
WaveMark(TM), Cardinal Health’s growth engine, supports digital transformation in healthcare. It’s creating solutions that will build the supply chains of the future with two key factors: clinical integration, and digital automation.
Cardinal Health’s OptiFreight Logistics team is also a key part of building the supply chain for the future. They use digital automation technology to manage logistics for health care, giving visibility into shipments going from one point to the next.
Additionally, Cardinal Health has invested in Medically Home. These medical technology companies’ innovations allow patients to receive hospital-level treatment in their own homes. Patients with complex medical conditions or those who have significant and unpredictable care needs will be able to receive high-quality care at home thanks to technology. Hospitals also gain from this technology. They will be able to move patients with intermediate-level chronic conditions into the home and refocus their resources on patients who require more care.
- The automation of labor is needed to ease the problem.
Fierce Healthcare reports that there is a growing demand for health care workers and this trend is likely to continue for many years. However, burnout is also a major reason why more healthcare workers are leaving the workforce.
WaveMark, however, can fully automate many of the manual inventory tracking processes in hospitals and clinical laboratories. The technology informs staff based on past usage data when and what order to place.
- McBride spoke out in favor of centralizing data.
WaveMark, an already-established digital supply chain, has been creating and speeding up a trusted platform to share data from point of manufacture to point of care. “Cardinal Health is investing in a system-wide, centralized management process. The company’s clinically integrated strategy is supported by data and analysis. This gives access to previously unobtainable insights for providers and manufacturers. It is essential to a company’s success.”
Another example is incorporating a consistent, internationally adopted standard, such as GS1, for traceability of products throughout their supply chain journey. GS1 is an organization that issues unique device identification (UDI) to ensure that medical device manufacturers have a global framework that allows them to identify, capture, and share product information.
- Embracing disruption.
McBride (The VP and General manager of WaveMark, a Cardinal Health Business) pointed out Amazon’s new automated technology, which will enable Whole Foods customers to skip the checkout. McBride explained that he believes the same type of technology could be used for health care. “Staff can quickly go into product storage and grab what they need. The inventory would also be kept in one central place. This is precisely what the company is embracing at Cardinal Health.
McBride points out that as they help hospitals and health systems manage their current challenges, McBride suggests that they also prepare for future disruptions. Cardinal Health company is not able to foresee the next health crisis, but we know this. Cardinal Health is more prepared than ever thanks to our innovation focus.
Fact Sheet:
- Cardinal Health Inc. is a distributor of pharmaceuticals and manufacturers, medical and laboratory products. They provide end-to-end solutions and data-driven insights to improve healthcare and people’s lives. With over 50 years of combined experience, they are able to solve the most difficult healthcare problems now and in the future.
- Nearly 90% of U.S. Hospitals are served by Cardinal Health’s team.
- Cardinal Health Inc. has offices in over 35 countries.
- Specialty Solutions Services are available for more than 10,000 specialties physicians’ offices and clinics.
- With more than 46,000 products for home healthcare, we serve over 3.4 million patients.
- The company has over 4,500 manufacturing and sourcing partners in the healthcare supply chains.
- Cardinal Health’s distribution and services allow serving more than 60.000 U.S. pharmacies.
- Cardinal Health’s digital ecosystem for medication adherence supports more than 23 million patients and more than 60 payers.
- The U.S. has more than 130 nuclear pharmacies as well as more than 30 PET sites.
- The company ship’s to more than 140,000 locations around the world.
- Around 44,000 people worldwide.
- Revenue of $162 billion for the fiscal year 2021.
- Our OptiFreight, Logistics company makes 20 million shipments annually, to 22,000 locations. WaveMark, on the other hand, optimizes supply chains for more than 2,400 individual critical areas from more than 250 U.S. hospitals.
Recent Developments:
2022
- Ember Technologies Inc and Cardinal Health have announced a partnership that will offer the Ember Cube, the world’s first self-refrigerated, cloud-based shipping container.
2021
- Cardinal Health has announced TotalVue Analytics, which uses predictive technology and data for logistics optimization and benchmarking.
- Cardinal Health, along with other investors, invested US$7M in BurnAlong in March.
- Cardinal Health entered into an agreement with Hellman & Friedman to sell Cordis to them for US$ 1 billion in March.
- FourKites and Cardinal Health formed a global partnership in March to increase the tracking of medical equipment and pharmaceutical products.
- Cardinal Health made an investment in FourKites in May.
- Outcomes announced that in June it had partnered up with four Ohio Managed Care Organizations, to help Ohio Medicaid patients get vaccinated.
- Cardinal Health launched Cardinal Health NavixRx compliance packaging, and an E-commerce storefront in July to aid pharmacies in expanding services and improving healthcare outcomes.
- Cardinal Health announced that they had reached an agreement with TerraPower in August to develop and manufacture Actinium225 for the treatment of patients with cancer.
- Cardinal Health partnered with Zipline in November to offer autonomous, on-demand delivery of aircraft to pharmacies.
- In July, AmerisourceBergen and McKesson agreed to pay US$1.179 trillion to New York State for opioid-related claims.
- Abbott and Quidel Corporation joined forces in August to offer OTC COVID-19 rapid tests.
- WaveMark, a company, announced that WaveMark has launched an automation solution to supply clinical labs with its supply automation business.
- Cardinal Health has entered into an agreement with Clarity Pharmaceuticals Ltd to target copper theranostics.
