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Group Purchasing Organizations Market Overview-2006
Knowledge Source Inc., June 2006, Pages: 250
A group purchasing organization (GPO) is an entity that helps health care providers-such as hospitals, nursing homes and home health agencies-realize savings and efficiencies by aggregating purchasing volume and using that leverage to negotiate discounts with manufacturers, distributors and other vendors. Hospitals and other health care providers use group purchasing to obtain the right products at the very best price. Hospitals and other health care providers are estimated to annually purchase more than $270 billions of dollars worth of medical devices, office equipment, hospital supplies and pharmaceuticals. Overall, about 72 percent of purchases that hospitals make are done using GPO contracts. GPOs save hospitals and free standing nursing homes between 10 to 15 percent off their purchasing costs. Overall, this means GPOs enable hospitals to save up to $33 billion each year through lower product prices. Additionally, GPOs provide valuable cost-avoidance savings to hospitals and other providers by helping them standardize and streamline their purchasing, as well as reduce the number of non-clinical staff that hospitals must employ to negotiate purchasing contracts. There are more than 600 organizations in the United States that participate in some form of group purchasing. About 30 of the 600 are true-GPOs that negotiate sizeable contracts for their members. The remaining organizations may offer their members access to larger groups' contracts and negotiate agreements with regional vendors for some services. Knowledge Source's Group Purchasing Organizations Market Overview, 250 pages, identifies the market issues and trends, and provides brief profiles on more than 40 of the leading GPOs.
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