Group Purchasing Organizations
As the healthcare industry evolves, providers constantly look for ways to improve patient outcomes while managing costs. One strategy that has gained popularity in recent years is using group purchasing organizations (GPOs) to buy vaccines.
GPOs negotiate contracts with suppliers on behalf of their members, including hospitals, clinics, and other healthcare providers. By leveraging the purchasing power of their members, GPOs can secure better pricing and terms for the products and services they offer.
Regarding vaccines, GPOs can be critical in helping healthcare providers access the immunizations they need to protect their patients. Vaccines are a crucial tool in preventing the spread of infectious diseases, and they are an essential part of routine care for patients of all ages.
However, vaccines can also be expensive, and supply shortages or other challenges can make it difficult for providers to access the necessary vaccines. By working with a GPO, healthcare providers can benefit from the collective bargaining power of the group, which can help them secure better pricing and more reliable access to vaccines.
In addition to cost savings, GPOs can provide valuable support and resources to healthcare providers as they navigate the complex world of vaccine procurement and administration. GPOs can offer guidance on vaccine storage and handling, help providers stay up-to-date on the latest vaccine recommendations and guidelines, and provide educational resources to help providers educate their patients about the importance of vaccination.
It is best to choose a physician-led, private GPO, not part of a large health system, and if possible, not-for-profit. That is because Private Equity and Hospital run GPOs need the margins and are focused on the big ticket items like an MRI or CT scan, where they can save $100,000 per unit vs. a $50 vaccine, where they can save $1.
Ultimately, using GPOs to purchase vaccines can help healthcare providers improve patient outcomes, reduce costs, and streamline operations.
Conclusion and Actionable Data :
Vaccines are a considerable expense for pediatric medical practices, yet they are crucial to population health. Take at least the next three steps :
Obtain three quotes from a non-hospital affiliated GPO that focuses on vaccines annually. Some examples are Practice Well and CPP Buying Group.
Use a calculator to see what you are making or losing on vaccines. We use a Tableau calculator without admin fees to know that you have been paid and that your charges are current.
Join any GPO; it's always going to be better than none.