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Across the past 10,000 healthcare equipment transactions facilitated via OpenMarkets, 5 key capital purchasing trends for December stood out. With these trends impacting both healthcare providers and equipment suppliers, we decided to share globally.
As discussed in the OpenMarkets webinar “Challenges of Selling to a Health System” frustration for equipment suppliers is created by the opaque needs of providers. Kelly Rodriguez, VP, Strategic Business Units at Toshiba Medical says “December is known to be a strong month for sales because providers have a heightened awareness of budgets and needs at year end. If a supplier can anticipate and learn a provider’s timeline, they are able to put together custom solutions and save both the provider both time and money.”
We decided to take a deeper dive in to the topic of monthly sales trends and revealed 5 key trends to help hospital executives work better with their suppliers at year-end. If you’d like to access more detailed information surrounding purchasing trends and supplier promotions, contact us.
5 Key Trends
Data across the OpenMarkets community shows that hospitals budget over 50% less for capital in the month of December than the average month.
Yet, hospitals buy plenty of capital equipment in December.
- Capital purchases may not be planned for December, but spend is 33% higher than the average month. The difference is unplanned and contingent purchases, which are a disproportionately higher percentage of spend in December.
- Hospitals buy a lot more beds and stretchers in December than normal.
- Hospitals in the OpenMarkets community are 3.4x more likely to buy beds in the month of December than any other month. The same applies to stretchers, with hospitals 2.7x more likely to purchase in December.
- Need defibrillators? Buy in December!
- In 2015, providers utilizing OpenMarkets were presented pricing on defibrillators with 5x greater discounts than any other month.
- Ready for an IT upgrade? December is a great month!
- December is the best month of the year for IT equipment discounts, with transactions facilitated via OpenMarkets achieving 3% lower costs than any other month.
By joining the OpenMarkets community, healthcare providers and equipment suppliers can leverage this type of purchase-driven data to create more efficient, value-driven transactions. OpenMarkets is committed to reducing waste and inefficiency in the capital equipment market by delivering better intelligence, and facilitating better coordination between healthcare equipment suppliers and providers. For more information, contact us or schedule a demo.