Supplier Diversity

At Mount Sinai Health System, we understand the importance of having a diverse supplier base that is reflective of our patients and community at large. Working with a group of diverse suppliers allows us to access new ideas that will bring continued value to our organization. 

Mount Sinai Health System’s supplier diversity program focuses on minority, women, veteran, LGBTQ, and disability-owned business enterprises (“Underrepresented Businesses”) and the following guiding principles:

  • Communicate the business case for supplier diversity with all stakeholders
  • Ensure business opportunities for small and diverse businesses in our procurement process
  • Engage small and diverse businesses through networking opportunities and informative events
  • Monitor and track diversity spend within the organization
  • Use our supplier diversity efforts to strengthen our communities

Business Case for Supplier Diversity

To understand how we will fulfill our guiding principles while overcoming the general challenges within health systems of supporting supplier diversity programs, it is essential to understand our supplier diversity business case.  

Clients (Patients)
Mount Sinai desires to support our diverse patient population. One way to accomplish this is by purchasing products and services from local diverse businesses that are led by owners mirroring our diverse patient population.

Mount Sinai seeks to maintain our status as a leader among health systems. Having a successful supplier diversity program will aid in this pursuit.

Since Mount Sinai receives federal grants, bonds, or government contracts, we are mandated to support minority-, women-, and veteran-owned business enterprises. 

Utilizing local diverse businesses creates a diverse ecosystem, as those establishments are the ones employing many of Mount Sinai’s patients. 

Diverse suppliers are often innovative and flexible in providing solutions to health systems. A supplier diversity program will allow Mount Sinai to make use of the innovation spawned by those diverse partners. 

A diverse supplier base creates additional competition that leads to lower pricing, further driving costs down for the Health System.