Approximately 5 million Americans are diagnosed with heart valve disease each year. Given the not-inconsequential costs of treating this condition, hospitals can benefit from exploring creative ways to purchase artificial replacement valves at a reduced price.
Heart valve disease can be caused by calcification of the valve leaflets, resulting in stenosis, which is the narrowing of the valve opening, or by the slow degeneration of the leaflets, resulting in leakage through the valve. Heart valve disease can occur in any valve or combination of valves, but is most common in the aortic and mitral valves.
It is estimated that up to 7 percent of the U.S. population over the age of 65 is affected by aortic valve stenosis. If left untreated, 50 percent of patients with symptomatic heart valve disease die within two years, on average. Treatment for diseased valves includes valve repair or replacement. Artificial valves used for replacement can be categorized as either tissue or mechanical.
Lower prices for replacement valves are usually achievable by introducing competitive bids, but achieving additional savings may require some creativity, such as a willingness to contemplate market-share commitments. Such agreements tend to give providers considerable leverage to reduce the prices, but hospitals should make sure physicians are onboard with this approach to avoid the possibility that physician-vendor relationships might compromise the organization’s negotiation leverage.
Kimberly Guilliotti is a clinical analyst with MD Buyline.
Data Source: MD Buyline (Please note, these numbers have been adjusted to exclude special deals, outliers, and unique circumstances)