One way to do so is by reexamining a hospital or health system’s method of acquiring devices and equipment. More particularly, direct purchasing can help all parties involved in reducing costs, writes Steve Lamb, vice president and lead partner at Memphis, Tenn.-based Implant Partners, in a Healthcare Payer News report.
According to Mr. Lamb, the largest cost surrounding implants is the commission paid to sales representatives. Mr. Lamb suggests that by removing the middleman from the transaction and purchasing directly from manufacturers, hospitals and payers are able to see data and glean insight regarding the cost, quality and effectiveness of the implants, as well as step around device price markups that can be as high as 40 percent, he writes.
What’s more, such transparency allows patients to make more informed treatment decision as they are gaining access to comparative pricing data, Mr. Lamb writes.
Additionally, the collaborative effort between hospitals, payers and patients can help align clinical and financial goals, Mr. Lamb suggests. For example, providers can make clinical decisions based on evidence-based outcomes and best treatments without the influence of a sales rep, and all involved parties are able to agree on implant costs in advance.
“Partnering with hospitals that buy medical implants directly from manufacturers can help lead the way to data-driven solutions that decrease costs and enhance transparency around implant use and surgical treatment decisions,” writes Mr. Lamb. “A collaborative and comprehensive approach to implant purchases can bring about the clinical and financial alignment needed to motivate all players in the medical value chain.”
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