Study: Hospitals Driving Down Prices of Medical Device Implants by 17-34%
From 2007 to 2011, the average inflation-adjusted prices of the most common implantable medical devices paid by hospitals dropped 17 to 34 percent, according to a study from the Advanced Medical Technology Association, a national group representing medical device companies.
According to the study, conducted by a private research firm, researchers looked at the seven largest categories of implantable medical devices for hospitals: cardiac resynchronization therapy defibrillators, implantable cardioverter defibrillators, pacemakers, artificial hips, artificial knees, drug-eluting stents and bare-metal stents. Researchers received average pricing data from 153 hospitals for those devices and found prices have dropped sharply since 2007.
Prices for drug-eluting stents dropped the most at 34 percent. Pacemakers and CRTDs each dropped 26 percent in price on average.
The average prices hospitals paid for artificial hips and knees went down 23 percent and 17 percent, respectively, from 2007 to 2011, according to the study.
More Articles on Hospitals and Supply Costs:
Beat Buyer's Remorse: 18 Wasteful Hospital Purchases to Avoid
4 Ways to Cut Supply Chain Costs
5 Statistics on Sustainable Hospital Supply Savings
© Copyright ASC COMMUNICATIONS 2015. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
New From Becker's Hospital CFO