For Prospective Members: Change the economics of negotiation with your suppliers
Learn how Meriter Health Services achieved 21% savings on orthopedic implants
Topics: Medical and Surgical Supplies, Supply Chain, Finance, Orthopedics, Service Lines, Physician Issues
Preparing for bundled payments
In preparation for a bundled payment initiative application, Meriter Health Services leveraged a moment of alignment with their orthopedic surgeons. In partnership with Strategic Sourcing Management, Meriter sourced $4M in orthopedic implants and supplies.
Changing the economics of negotiation
Meriter’s suppliers first responded with tepid discounts—offering approximately 5% savings. But through the process outlined by the Strategic Sourcing Management team, the negotiation changed dramatically. Suppliers were able to express their own economic needs for the first time, while Meriter was able to deploy the full force of its physician partnership and market leverage. This drove the final savings to slightly over 21%, a dramatic improvement.
Find out how they did it
Please join us for a special presentation by Bill Herbert, the Director of Pharmacy and Materials Management at Meriter Health Services, to learn how his team more than quadrupled their total savings impact
About Strategic Sourcing Management
Strategic Sourcing Management is new managed service focused on transforming supply contracting capabilities to maximize value across physicians, the hospital, and suppliers. It merges a world class, out-of-industry bidding technology with deep supply market and sources expertise, for a powerful solution that drives savings far beyond top decile benchmarks. The result is a game changing process that unlocks previously unavailable savings.
More Information
For more information, please contact Jana Petersen at petersej@advisory.com or 202-266-6242. Advisory Board members at non-hospital organizations, please contact abhcic@advisory.com.
Please note, a valid hospital email address is required to process registration.
