Health Care Trends: What Device Manufacturers Should Know About Value-Based Purchasing
Executive Summary
Medtech Insight interviews Blair Childs, Premier Inc.'s SVP of public affairs, about how current quality initiatives, including Value-Based Purchasing, will affect medical device manufacturers.
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Device Companies and GPOs: Is a Battle Looming?
This February, Medtronic. announced it was canceling five cardiovascular and orthopedic contracts-reported to be worth $2 billion a year-with GPO Novation, which negotiates deals on behalf of more than 1,600 hospitals. The action has the potential to change how product contracts with hospitals are negotiated, but at this point, it is hard to say if it represents a burgeoning trend that others will follow or just another mêlée in the long history of turbulent device manufacturer/GPO relations.
Device Companies and GPOs: Is a Battle Looming?
This February, Medtronic. announced it was canceling five cardiovascular and orthopedic contracts-reported to be worth $2 billion a year-with GPO Novation, which negotiates deals on behalf of more than 1,600 hospitals. The action has the potential to change how product contracts with hospitals are negotiated, but at this point, it is hard to say if it represents a burgeoning trend that others will follow or just another mêlée in the long history of turbulent device manufacturer/GPO relations.
Health Care Reform: The Excise Tax Was Only the Beginning
The excise tax has been the medical device industry's main concern about pending health care reform, but other changes are taking place that will alter the market and potentially have a greater impact on sales and profits than the 2.3% tax. Specifically, device manufacturers' customers are at the beginning of changes that will alter reimbursement from the CMS to reflect adherence to standards of "best medical practices" tied to quality patient outcomes.