In the news: Group purchasing organizations can save healthcare industry billions
Medical Staff Leader Connection, May 6, 2009
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Group purchasing organizations (GPO) have the potential to save the United States health care industry $36 billion dollars annually, says a study by Health Care Sector Advances, Inc., The Value of Group Purchasing - 2009: Meeting the Need for Strategic Savings.
The study surveyed 28 hospital systems representing 429 hospitals, and the results are clear. GPOs:
- Ensure efficient contracting
- Secure price reductions as a result of consolidating volumes of materials to influence supplier price
- Contribute to a sustained level of high quality suppliers in the marketplace
- Positively influence hospital performance in cost, safety and clinical outcomes
- Reduce human resources expenses by about $2 billion per year
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