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Key Stakeholder Perceptions of Standard vs. Total Cost of Ownership: A Procurement Analysis for Orthopaedic-Powered
Aazad Abbas1, Olumide Olotu2, Sejla Abdic3
1Is a medical student at the University of Toronto's Temerty Faculty of Medicine in Toronto, ON. He can be reached by e-mail at aazad.abbas@mail.utoronto.ca.
Abstract:
This study compares standard procurement methodology (SPM) with total cost of ownership (TCO) methodology for the procurement of orthopaedic-powered instruments. The authors conducted semi-structured standardized interviews with key hospital procurement stakeholders following consolidated criteria for reporting qualitative research. Of the 33 hospital procurement stakeholders interviewed, all (100%) reported that SPM would be easier to use than TCO. However, only six (18%) preferred SPM over TCO. Barriers to the adoption of TCO emerged as a theme. Creating TCO frameworks can help to simplify the process for procurement agents and facilitate its adoption in the healthcare sector.
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