Our implant cost reduction projects are designed to meet the
needs of the hospital and physicians. Often a hospital can
achieve a savings on implant costs without consolidating
vendors or drastically changing their implant utilization.
Our projects are comprised of six steps:
1) Accurately Identify Current Implant Spend
Accurately establishing what you are spending on implants is critical to developing an achievable savings target. We extract implant costs directly from the implant log for total joint, spine, trauma, and CRM related cases.
2) Benchmark Costs
We benchmark your implant prices against other hospitals of similar size and volume to ensure you are paying the most competitive price possible.
3) Develop Savings Targets
A hard dollar savings target is developed by merging the benchmarked price points with your current volumes and implant utilization.
4) Attain Physician Support
Sharing implant data and savings targets with your physicians as well as communicating the intent of preserving physician choice on implants will allow you to attain physician support for the project.
5) Negotiate with Vendors
SHS staff has facilitated many successful implant vendor negotiations. Depending on the comfort level of your organization, we are prepared to play any role you like during the vendor negotiation phase of the project.
6) Track Results
Once new pricing is implemented we monitor your implant purchases to ensure contract compliance and savings targets are achieved.
Other Specialties: Total Joints | Trauma | Spine | Cardiology
needs of the hospital and physicians. Often a hospital can
achieve a savings on implant costs without consolidating
vendors or drastically changing their implant utilization.
Our projects are comprised of six steps:
1) Accurately Identify Current Implant Spend
Accurately establishing what you are spending on implants is critical to developing an achievable savings target. We extract implant costs directly from the implant log for total joint, spine, trauma, and CRM related cases.
2) Benchmark Costs
We benchmark your implant prices against other hospitals of similar size and volume to ensure you are paying the most competitive price possible.
3) Develop Savings Targets
A hard dollar savings target is developed by merging the benchmarked price points with your current volumes and implant utilization.
4) Attain Physician Support
Sharing implant data and savings targets with your physicians as well as communicating the intent of preserving physician choice on implants will allow you to attain physician support for the project.
5) Negotiate with Vendors
SHS staff has facilitated many successful implant vendor negotiations. Depending on the comfort level of your organization, we are prepared to play any role you like during the vendor negotiation phase of the project.
6) Track Results
Once new pricing is implemented we monitor your implant purchases to ensure contract compliance and savings targets are achieved.
Other Specialties: Total Joints | Trauma | Spine | Cardiology