MICHAEL BOMSTAD JOINS ESSENTIAL HEALTHCARE MANAGEMENT
NOVEMBER 12, 2012 - Essential Healthcare Management (EHM) has announced that healthcare industry veteran Michael Bomstad has joined the EHM Team. Mike is a highly recognized innovator and leader with 20 years of healthcare industry experience. His areas of expertise include GPO and IDN relationship development, complex contract negotiations, business and sales planning and implementation, innovative partnering and business start-ups. As an industry consultant, Mike initiated and completed a first-of-its-kind partnership between a pharmaceutical company and a large hospital group, saving the hospital group $30 million while helping grow revenues for the pharmaceutical partner. He has also developed an innovative and highly successful business model to introduce generic drugs to the US market.
Mike served as Senior Vice President for the $2B group purchasing program at Child Health Corporation of America (CHCA) where his team increased hospital savings in three years by more than 500%. His team grew revenue by 20% annually for a ten-year period, and he personally negotiated more than $1B of group purchasing agreements during his tenure. His demonstrated expertise includes working with senior level and operational management in the medical device, pharmaceutical, distribution and hospital industries, and he has been a member of the Association of Healthcare Materials and Resource Management (AHRMM), the Health Industry Group Purchasing Association (HIGPA), the Healthcare Industry Group Purchasing Industry Initiative (HGPII) and served on the Strategic Advisory Committee of CHCA’s GPO partner, Premier Purchasing Partners, Inc.
Prior to CHCA, Mike was a professional associate at the Center for Business Innovation, a business incubator, where he was responsible for business plan development, strategic partnering, and equity and debt financing assistance for start-up and early-stage technology companies. Mike also served as a Member of the Kansas City Board of Trade where he traded commodities and stock-index futures for institutional clients.
Mike holds an MBA from the University of Kansas where he was a Graduate Business Scholar, and a BS in Agricultural Economics from the University of Missouri