Can you increase your practice’s profitability without increasing your hours worked? You don’t have to see more patients, perform more surgeries, or add ancillary services to generate more income. You can reduce expenses, such as your costs for practice supplies. Every dollar you save on purchasing supplies and equipment goes directly to your bottom line as profit.
According to the Medical Group Management Association 2012 Cost Survey for Orthopaedic Practices, the average orthopaedic practice spends $45,000 on medical/surgical supplies and pharmaceuticals per year, per physician. Saving 15 percent on your purchase orders generates $6,750 in higher income for you.
A group purchasing organization (GPO) is your key to reducing supply costs. GPOs use high-volume purchasing power to secure significant price discounts. You may recall that the AAOS offered a GPO member benefit some years ago. And now, the AAOS has an entirely new and better program, with more service options than ever before.
The costs associated with running an orthopaedic practice seem to increase every day. But as an AAOS member, you can participate in the AAOS Group Purchasing Program by MedAssets and reduce your expenses for the equipment and services you need and use every day. Here are just some of the benefits:
Savings—Saving money should be a priority for your practice. Joining the AAOS program and combining your practice with hundreds of others across the county enables you to save on the products and services you need every day. And, as a AAOS member, you can qualify for rebates based on specific sales, further increasing the value of your participation in the program.
Buying power—The AAOS Group Purchasing Program by MedAssets aggregates the purchasing volume of thousands of member practices to negotiate large volume discounts that save money for all members regardless of their organization size. According to Thomas J. Grogan, MD, chair of the AAOS Practice Management Committee, “By participating in this program and purchasing the exact same name brands and supply volume, a practice can save thousands of dollars each month. The AAOS Group Purchasing Program by MedAssets is an efficient way to improve the profitability of your practice.”
Simplicity in purchasing—Purchasing medical equipment and services is much more efficient when you take advantage of this member benefit. In many orthopaedic practices, purchasing is decentralized and an additional duty for staff, and invoicing is a manual process. With the AAOS Group Purchasing Program by MedAssets, you can access discounts on medical supplies, equipment, pharmaceuticals, office supplies, computers and software, telecommunications, furniture, document management products and form printing, even magazine subscriptions for the waiting room—all from one website. In most cases, you can even continue to work with your current distributors.
Free membership—Not all GPOs provide free membership, so finding one that does is an advantage. The AAOS Group Purchasing Program by MedAssets has free membership, a broad range of vendors, and the buying power you want.
Lower purchasing risks—The AAOS Group Purchasing Program by MedAssets uses a strict vetting process to ensure the credibility and value of the vendors in its contract portfolio. You won’t have to worry about the quality or reliability of the products you purchase.
Quality purchasing—Because all vendors are prescreened, you and your staff can be confident that you are working with quality vendors. The program does the investigative work—so you and your staff don’t have to.
Networking—Becoming a member of the AAOS Group Purchasing Program by MedAssets allows you access to the organization’s list of product and service providers. Forming relationships with these vendors will give you an opportunity to attend events and other informal networking gatherings they hold, enabling you to find out how others have put them to use.
Start reducing expenses today
Participating in the AAOS Group Purchasing Program by MedAssets is the easiest thing you can do for your practice to achieve significant savings and better deals on the brand-name supplies and materials you need. The AAOS exclusive partnership with MedAssets can help you reduce your supply expenses by up to 15 percent.
The comprehensive MedAssets portfolio includes more than 1,800 manufacturers and distributors so you can continue to order from your regular suppliers and get the best prices available. See how much you can save on a typical order by requesting a free cost-savings analysis. MedAssets can provide a review of your office supplies, telephone expenses, laboratory expenses, transcription services, and almost any vendor-supplied product so your whole practice can enjoy a cost-cutting makeover without sacrificing quality.
For more information, call the customer service team at 1-678-248-8130 or email firstname.lastname@example.org
Jackie Ryan is the manager of the AAOS practice management group. She can be reached at email@example.com
Q &A about participation
- Is there a monthly fee? No—the AAOS Group Purchasing Program by MedAssets is free.
- Can I see a list of participating vendors? Yes—you will find that many of the vendors you currently work with are part of this program.
- Are there programs to reduce supply expenses? Yes—special programs with sourcing strategies that lead to pricing based on a percentage of commitment versus volume are available.
- Are multiple product and service line categories available? Yes—the range of product and service lines is wide and varied, offering significant advantages to your practice or ambulatory surgical center.
- Will pricing fluctuate during the term of the agreement? No—your prices will remain stable for the duration of the agreement.
- How flexible are the contract terms? Very flexible—with continuous portfolio refreshment, monitoring of new technologies, and custom contracting capabilities to supplement the base portfolio.
- What value-added services are available? Many—Take advantage of an electronic contract catalogue, inventory management, and pricing transparency to help you identify additional savings opportunities.
- What’s the bottom line? The most effective way to dramatically decrease the costs associated with supplies and equipment is to join the AAOS Group Purchasing Program by MedAssets.