The Role of the GPO in Healthcare

Posted Tuesday, November 22, 2022

Did You Know? GPOs help the healthcare industry save up to 34.1 billion dollars annually.

Matrix GPO Members Receive Access to Pricing Benefits

Rising drug prices make it essential to align with a GPO that can negotiate cost-effective contracts

01 | Group Purchasing Organization – What is it? 

A Group Purchasing Organization, or GPO, is an entity that helps healthcare providers realize savings and efficiencies by aggregating purchasing volume and using that leverage to negotiate discounts with manufacturers, distributors and other vendors. GPOs help source and negotiate prices for drugs, medical devices and other products and services on behalf of healthcare providers. According to the Healthcare Supply Chain Association (HSCA), healthcare providers realize cost savings of 10-18% by using GPOs.

02 | Benefits of a GPO

In particular, GPO contract acquisition pricing for branded and generic drugs offers members savings opportunities through the Matrix GPO network of pharmaceutical manufacturer relationships. Note some benefits of utilizing a GPO:

• GPOs procure and bargain on the rates for products and services
• GPOs assist in saving funds for patients and healthcare providers
• GPOs work in an extremely competitive acquisition market

03 | Service Providers

Matrix GPO has engaged with a number of organizations and businesses to offer its members a variety of products and programs. These trade relationships are designed to afford Matrix GPO members with access to a diverse portfolio of services, including:

• Med-Surg Supplies
• Web & Video Conferencing Solutions
• Telemedicine
• Insurance Products & Risk Consulting
• Inventory Management
• Marketing Services
• Regulatory and Educational Services
• HR and Supply Chain Solutions
• Customized Data, Reporting and Analytics
• Distribution
• Two-way Text Messaging

Learn More

Contact us today to learn more about practice management tools and professional services available to Matrix GPO members, as well as new and exciting resources available to the healthcare industry. Click here to visit the Matrix GPO website and fill out an enrollment form.

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References

 

https://matrixgpo.com/Content/gpo-overview

https://procurementpartners.com/gpo-healthcare/

https://supplychainassociation.org/about-us/what-is-gpo/