It’s a common balancing act for supply chain managers: Matching the need for capital equipment that keeps up with constantly evolving technologies and clinical practices, while honoring the budgetary constraints on capital budgets imposed by their hospitals.
HealthTrust can ease the frustration of tight budgets by helping you combine your capital equipment purchases with those of other hospitals. By facilitating group buys, HealthTrust can help you optimize your strategy and savings on such significant acquisitions.
HealthTrust’s Capital Equipment Group Buy Program offers an effective process to help hospitals purchase a full range of clinical equipment, including diagnostic imaging, surgery, nursing, cardiology and oncology.
Since group buys require a tremendous amount of effort to coordinate and execute, many IDNs do not have the staff or critical mass to aggregate capital equipment volume to improve pricing. With HealthTrust’s scale, resources and aggregated volumes across multiple IDNs, any size hospital can take advantage of group buys.
How the Program Works
With the Capital Equipment Group Buy Program, the more members who participate in a group buy, the greater the savings over and above the already negotiated HealthTrust on-contract price based on targeted volumes. Since the group’s volume will be processed during a short period of time, production costs of selected manufacturers are lowered.
The most significant categories that drive the majority of members’ capital spend are outlined on HealthTrust’s annual group buy calendar. While the annual schedule is fixed, additional categories may be added to complement hospitals’ changing needs at the direction of the member-based Capital Equipment Advisory Board.
Here are a few of the other benefits of HealthTrust’s Group Buy Program:
> Its member-driven process ensures that top quality and best value decisions are made.
> Strategic planning for capital acquisitions is improved by aligning your plan with “best time to buy” opportunities.
> The program’s annual recurring calendar for capital spend helps your CFO better manage related cash flow.
> Group buys will always be for products already on contract with HealthTrust.
> The process combines volume-leveraged savings with minimal resource investments typically needed to achieve comparable pricing.
> The more members who participate in each group buy, the more value for members and vendors.
“HealthTrust will seek every opportunity to partner with our members and vendors in a well-coordinated effort to bring continued value and solutions to your healthcare facility,” says Don Weller, director of the Capital Equipment Group Buy Program.