Here are 6 ways hospital vendors are going to increase their margins:
1. Changing their list price book every year:
Their 2021 list price book will look very different from their 2016 list price book for the same items.
2. Having internal pricing committees:
They are going to use it against your effort to benchmark the price.
3. Complex pricing structures:
They are going to introduce different tiers. So to get the best pricing, you need to get to a specific level and incorporate some other spend.
4. Utilizing the GPO:
They are going to use the GPO to keep the prices high.
5. Using rebates:
Instead of reducing the cost directly, they will give it to you in rebate based on the volume you purchase or how you utilize their other products.
6. Reintroducing the same product:
They will make minor enhancements to the same product and present the newer, shinier version at a 25-30% higher cost.
In the upcoming posts, I’ll be elaborating on these topics.
Let me know if you found this overview helpful!
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