Abstract:
:As an alternative to a limited vendor/volume discount approach, our hospital employed a physician-driven free market strategy aimed at reducing joint implant costs. Surgeons were provided with vendor pricing and peer profile comparisons of implant cost data and asked to select implants providing the best value based on patient need. Vendors were challenged to reduce prices where appropriate. Total savings based on the 1995-1997 volume-adjusted cost difference were $1,059,159, a 17.5% decrease. These results demonstrate the possibility of reducing joint implant costs using a strategy that does not limit vendors or cap prices.
journal_name
Orthopedicsjournal_title
Orthopedicsauthors
Christo AE,Bargar WL,Morris Esubject
Has Abstractpub_date
2000-05-01 00:00:00pages
439-42issue
5eissn
0147-7447issn
1938-2367journal_volume
23pub_type
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