Late last year, 135 health system leaders worked with OpenMarkets and Chicago-based Pathstone Partners, a healthcare consulting group, to document several aspects of their capital process and equipment procurement strategy.
Analysis of this information has led to several key takeaways:
- Too many organizations rely on Excel and paper-based methods for their capital approval process
- GPO contracts don’t play a role in the final price for capital equipment
- Reactive sourcing and uneven contracts result in higher prices for hospitals
With over $80 billion in healthcare capital spend annually, finding solutions to the above challenges is needed. Not doing so will result in continued inefficiency for both providers and suppliers.
Further breakdown of survey results is continued here:
If your organization struggles to proactively manage capital dollars and buy equipment, contact us to hear how CHRISTUS Health, Maury Regional Health System, Norman Regional Health and other systems are using OpenMarkets to work smarter and spend less.