Save More Money on Business Supplies and Services
If you’re considering signing up for a Group Purchasing Organization (GPO) or are already a member, then you’re aware the benefits of a GPO are many.
In fact, it’s estimated that close to all of the hospitals in the U.S., between—96% to 98%—are GPO members. While the very nature of joining a GPO will have helped you save money, many businesses may not realize that there are other ways you can elevate the value of your membership even more.
Interested in becoming a Pandion GPO member? Click here to sign up for our no cost membership today!
Looking for more return on investment? Here are four ways you can squeeze more value from your GPO and save more money when purchasing your organization's supplies and services.
- Allow your GPO to educate you. Taking the time to utilize the training tools that GPOs provide will help you navigate complicated policies while ultimately helping you potentially find new ways to save. Whether it’s a webinar, white paper, live event—make sure to take advantage of these tools.
- Establish a relationship with your GPO for best possible supply savings. This means you should check in regularly with your GPO rep to make sure everything is in order, and so that you know the details of your account and any possible new savings you can take advantage of. This relationship will also be helpful when fostering a relationship between your rep from your GPO and your distributor, especially because your vendor isn’t always going to remember which GPO you’re a member of. If you don’t remind them, when it comes time for your vendor to load the price into your account for a new product you ordered, you might get stuck with the market price.
- Evaluate your healthcare supply and service suppliers. If you’re organization is using multiple suppliers within the same service, then it’s a good idea to standardize your supplier. This may help you save more with your GPO. Similarly, you should make sure to keep up on any purchases that you make outside of your GPO. You might be able to switch out a product with another that’s included in your contracts, which can ultimately save you money.
- Stay on top of your supplier contracts. Supplier changes can happen (including possible discounts and new potential contracts), so if you don’t keep track of what’s going on you can miss out on the chance to find new savings or new opportunities. Likewise, you’ll want to make sure a contract doesn’t expire on you that you weren’t ready to end. Renewing contracts can take time, so staying engaged with your GPO will ensure that you won’t miss out on something that will potentially help you increase your savings.
Since 1910, when the first GPO was established to help health care facilities purchase medical supplies at lower prices, GPOs have been dedicated to saving organizations money - in the health industry and beyond. By navigating your GPO relationship with commitment and engagement, you can make the most of your contracts and continue to save money for your organization or facility.
Interested in becoming a Pandion member? Click here to sign up for our no cost membership today!