How Healthcare Institutions Can Use Group Purchasing Organizations to Manage Expenses
How Healthcare Institutions Can Use Group Purchasing Organizations to Manage Expenses
By Federated Media (Inside Edge contributors), January 10, 2012
Although inflation has remained relatively kind across the general economy, costs for pharmaceuticals and medical supplies are climbing For decades, hospitals have battled rising costs for pharmaceuticals and medical supplies by joining group purchasing organizations (GPOs).GPOs leverage their members’ combined purchasing power to secure quantity discounts on goods and services from third-party vendors. Now GPOs are gaining traction among non-acute healthcare providers, including nursing homes, infusion providers, assisted-living facilities, durable medical equipment distributors, continuing care communities and independent medical oncologists.
This report looks at:
- How group purchasing organizations can save healthcare institutions money
- How GPOs work
- How healthcare providers can integrate GPOs into existing procurement practices
- Other benefits GPOs offer
- How to choose the right GPO for your organization
- How one company broadened the scope of its GPO purchases
At a time of rising costs and shrinking reimbursements, saving money on expenses is a priority. Learn more about Group Purchasing Organizations. Download the full report.
