How to Save on Medical Supplies
You want to reduce the cost of your medical supplies, but don’t know where to start. You can reduce the cost of your supplies by following a few easy steps.
Everything you need in one place
Ordering everything in one place can help you save money on your medical bills. It can be daunting but you will be able to find the best deals. You can expect to save a lot on over-the-counter products such as incontinence supplies or disposables. You can also get discounts on prescription medication equipment if you are willing to do the legwork.
One way to save money on medical supplies is to use a site that offers free shipping for orders over $100. A reordering automation system is another great way to save money on medical supplies. The most expensive items in your arsenal like anesthesia and pain medication will likely require you to schedule a visit to your physician’s office in the event of an emergency, and automating the order process will ensure that you don’t end up having to purchase the items a second time around.
Another way to save money is to order bulk. A bulk order for medical supplies is a great way of saving money, especially if you have many people or have a family. There are even companies that will deliver your supplies to your door for a small fee.
It’s important that you compare prices from multiple retailers before purchasing. You should also check their return policy and customer reviews. Lastly, the most obvious – but still the most important – thing to do is to ask your doctor for a prescription for any medications or equipment that you intend to buy. Getting a prescription will not only help you avoid the hassles associated with buying over the counter medications, it will also guarantee you get the right dose of medicine for your condition.
Auditing your supply usage
Auditing your medical supply usage will save you money in long-term. Recognizing the most used supplies will help you reduce stock levels. You can also use the data to improve your coding procedures.
There are many different types of audit tools to choose from. It is up to you to decide which one best suits your needs. The most popular are statistical sampling and event monitoring.
Once you determine which type of audit is right for you, you’ll need to select a time frame. Regular audits should be conducted. For example, you could perform a re-audit every three months. This will ensure that you don’t get stuck with the bill for future re-billing.
When you are drafting an internal policy, it is important to include recommendations for future audits. This could include creating a “cheat sheet” and incorporating shadowing sessions into the training process.
Another option is to rely on a supplier monitoring program. These systems can help collect, organize, present, and present data to buyers. It can also help you identify problem suppliers.
You will want to consider their growth potential and their expertise when selecting a supplier. Make sure their terms are clear. If they aren’t willing to meet your audit requirements, it might be best to find a new supplier.
An automated inventory management program can reduce costs. It can automatically order items if inventory drops below a set threshold.
Depending on the size and type of your business, there are options for financing medical supply. However, bootstrapping may not be a viable option if you don’t have startup capital.
If you’re thinking about starting a medical supply business, you might also want to consult with a local accountant. He or she can help you choose the right business structure.
Using reusable items
Using reusable items to save on medical supplies is an idea that many doctors are taking a second look at. These items are less expensive and more friendly to the environment. They can also reduce waste in hospitals.
Canadian doctors are working to make this transition. Recent research has shown that reusing medical supplies can help save money. The circular economy is a positive step forward in protecting the environment by keeping items in circulation.
Reusing can save money and help hospitals reduce the amount of new equipment they purchase. This can help to prevent shortages. Hospitals can also reuse to avoid paying high waste disposal fees.
One doctor, Andrea MacNeill, is looking to move to a more sustainable healthcare system. She is a Vancouver General Hospital surgical oncologist. Since December 2018, the hospital has been recycling disposables. They have not yet reached a breakeven point.
The reprocessing company Stryker Sustainability Solutions has a recycling system that can reprocess devices five to seven times. That translates to a 30% to 40% cost reduction. Instead of buying new devices, the hospital will buy reprocessed models.
Some studies also show that reprocessed medical devices are just as safe as the original. Hospitals can also manage their supply chain with reprocessed devices. This allows them to prevent cross-contamination.
The health centre estimates that it could save approximately $20,000. It can also help to save approximately $4000 on waste hauling.
As the health industry struggles with shortages as well as the coronavirus, it is becoming more urgent to create a more sustainable healthcare system. Reprocessing reusable items is becoming more important than ever as climate change-related disasters are on the horizon.
Group purchasing organizations
GPOs are an integral part the healthcare industry. They act as a middleman and negotiate price discounts with suppliers for group members. It reduces costs by using a more systematic approach in procurement.
A number of hospitals have realized supply chain savings of up to 18%, according to the Health-care Supply Chain Association. The General Accounting Office (GAO), has also studied the size and potential impact of the GPO market in healthcare.
The GAO found that there was no correlation between the amount of purchases made by a hospital and the percentage of savings. Six hospital group-purchasing programs managed to save an average of 12 to 26 percent.
GPOs played an important role in ensuring hospitals had the supplies they required during the global pandemic. Group purchasing organizations sifted through thousands of offerings from known suppliers.
Purchasing through a GPO also saves time. Instead of spending hours looking through vendor offerings, negotiating with a vendor can all be done by one team. This allows the provider and their staff to focus on patient care.
Among other advantages, group purchasing organizations protect providers from sudden price hikes. They can also prevent layoffs by having streamlined procedures and contracting policies.
These organizations can be found in many industries, including agricultural and electronics. Healthcare GPOs can also supply medical equipment, uniforms, IT support, lab equipment, and more.
It is therefore important for medical suppliers that they understand the strategies and tactics used GPOs. While some GPOs have rigid shipping schedules, others can help suppliers streamline order placement. GPOs can also provide compliance services, budget forecasting, or clinical support.
With these advantages, healthcare providers can rest assured that they are getting the best products and prices possible. A good GPO can protect healthcare providers from delivery problems and price increases due to demand.