RevCycle Intelligence April 1, 2020
Group purchasing organizations also helped increase competition, transparency, and even emergency preparedness for events like COVID-19, a new report shows.
Group purchasing organizations (GPOs) are delivering critical cost-savings to providers, as well as increasing competition, transparency, and even emergency preparedness for events like COVID-19, according to a new report from the Healthcare Supply Chain Association (HSCA).
The third annual report from HSCA found that GPO members are projected to save the healthcare system $34.1 billion annually, with $456.6 billion in savings estimated from 2017 to 2026.
Hospitals, nursing homes, and other providers will share in those savings, as GPOs reduce healthcare supply-related purchasing costs by 13.1 percent. Those savings are compared to the supply expenses of providers who do not...
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