The following stories regarding group purchasing organizations were compiled from Becker's Hospital Review over the past month, beginning with the most recent.
1. Data from the Physician Payment Sunshine Act, which requires pharmaceutical and medical device manufacturers and group purchasing organizations to register and submit payment and investment data on financial relationships with physicians and teaching hospitals, will soon be made public, according to a report from law firm ReedSmith.
2. Hackensack (N.J.) University Medical Center saved an average of 27 percent on purchased service contracts, approximately $25 million, after partnering with HealthTrust Purchasing Group.
3. If conducting an operational assessment for a hospital, Wilson Weber, executive vice president and COO of Community Hospital Corp., suggests focusing on labor management, the revenue cycle and supply costs. During an analysis of supply costs, hospitals can determine whether a group purchasing organization can help them get the best pricing available.
4. Elizabeth Hilla, executive director of the HIDA Educational Foundation, offers four tips for hospitals to improve pricing accuracy when working with providers, group purchasing organizations and suppliers, such as beginning contract negotiations early and communicating price changes early enough in advance.
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