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Cardiovascular supply cost negotiations: partnering for the future.
Robert K Keast1, Stephen G Maxwell, Sandy Barkman
1Division of Cardiovascular Medicine, Department of Internal Medicine, University of Michigan Health System, Ann Arbor, MI 48109, USA. rkeast@umich.edu
The Health Care Manager
|February 11, 2010
Summary
Controlling supply costs in cardiovascular procedures is crucial for financial health. A collaborative model between physicians, administration, and suppliers can optimize pricing and ensure access to quality materials.
Area of Science:
- Cardiovascular Medicine
- Healthcare Management
- Supply Chain Logistics
Background:
- Supply costs for electrophysiology and cardiac catheterization are significant financial burdens for cardiovascular programs.
- Effective supply pricing strategies are essential for organizational financial stability and managing escalating technology costs.
Purpose of the Study:
- To develop and implement a model for optimizing supply costs in cardiovascular procedures.
- To foster a collaborative approach among physicians, administration, and suppliers to improve supply chain management.
Main Methods:
- A joint effort involving physicians, administration, and suppliers was undertaken.
- A new model was developed and implemented at the University of Michigan Health System.
Main Results:
- The implemented model demonstrates significant opportunities for cost savings.
- The model aims to buffer against rising costs associated with new cardiovascular technologies.
Conclusions:
- A collaborative, strategic approach to supply pricing can maximize cost-saving opportunities.
- This model preserves clinician access to high-quality cardiovascular supplies while ensuring product availability.
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