A Simple and Effective Way to Improve Practice Profits
You already know that a great way to increase profits is to reduce expenses, and you have most likely already done so. But, if you’ve missed this one simple trick, you may be missing an opportunity to impact your practice profits without affecting productivity!
Connecting your practice to a Group Purchasing Organization (GPO) can significantly reduce prices on small and large purchases for your practice. Being connected to a GPO typically does not change the way you purchase products or from whom you purchase them.*
Let’s look at the before and after of PowerBuying…
Your Practice BEFORE PowerBuying
- Purchase medical supplies from familiar vendors
- Purchase office supplies from familiar vendors
- Purchase services from familiar vendors
Your Practice AFTER PowerBuying
- Purchase same supplies from same familiar vendors
- Purchase same office supplies from same familiar vendor
- Purchase same services from same familiar vendors
Many managers and providers believe that connecting with a GPO is a complicated process and only works for large healthcare facilities. Conversely, as they learn about how it works, they think it is too simple to be effective. The fact is that GPO contracts help medical groups regardless of size in all areas of practice.
Here are a few examples of how the PowerBuying team has helped clients:
- A three-physician general practice saved $1,800/month on their medical-surgical supplies.
- A primary care practice saved $15,634 on a 60-month copier lease.
- A dermatology practice saved $1,250/month on sutures (enough to pay their rent!).
If you would like to learn more about saving money for your practice, contact Craig King at 800-635-4040. Craig can give you a free analysis to show you how simple it is to improve your practice’s bottom line with the power of PowerBuying.
* There are a few exceptions when a practice may choose to change vendors on a particular product to receive better pricing.