Medical Devices
In 2011, total revenue from hip implants in the U.S. was approximately $2.8 billion, and it's projected to grow to $3.3 billion by 2016. The growing use of these implants makes the category an important focus for healthcare organizations that are trying to manage their costs.
The sourcing process in healthcare is quite strategic; much more than just buying products. Success depends on the right type of clinician involvement and the right high-caliber talent within the sourcing group.
Supply chain costs are the second largest investment for hospitals behind only labor. While many organizations struggle to keep these costs in check, even modest improvements to supply chain performance and inventory management can significantly reduce operating costs.
Did you know that some facilities use imaging software to perform differential reviews previously done only by trained laboratory professionals? But adding imaging software automation to the hematology lab can tack on $85,000 to $140,000 to the cost of a hematology analyzer.
While chemistry previously ruled hospital clinical laboratories, in today's labs immunoassay is equally important. Indeed, these blended systems represent the lab's largest capital outlay.
Increasing costs, declining reimbursements and narrow profit margins are leading hospitals to reassess their options for long-term financial viability. While continuing to seek ways to improve efficiencies and reduce costs, it is essential to understand the importance of value-added premium services.
The medical directors at the four Durable Medical Equipment Medicare Administrative Contractors have issued a joint open letter to physicians warning about "various marketing schemes" perpetrated by DME suppliers.
Demand for endoscopic video systems is expected to grow as new techniques enable even more procedures to be performed in a minimally invasive manner. This will make the question for today’s hospital not if to purchase a system, but how many to purchase.
The overall market for angiography services should remain stable in the near future. But one long term growth trend to keep watch on is the shift towards improving prevention based on early identification, reducing risk factors, education and early intervention if necessary.
Hernia repair is a fairly common procedure, with over one million surgeries performed in the U.S. each year. But reimbursement for hernia repair surgeries is on the decline, which makes securing the best price for surgical mesh a must.