Potential savings involved in the purchase of low-cost, high-volume medical commodities as established from a community hospital survey.
Health technology refers to the instruments, equipment, drugs and procedures used in health care delivery, as well as the organizations supporting it. Health technology assessment, which is the process of conducting investigations to establish the criteria for efficacious, effective and efficient patient care, is becoming increasingly important in an era of diminishing resources. This survey of 39 community hospitals in southwestern Ontario found that improved purchasing strategies can result in substantial cost savings which can in turn be used to improve patient care. The study shows that optimizing the price of basic hospital commodities could save an average community hospital as much as $625,000 per year.
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Michael G. DeGroote School of Business, McMaster University, Hamilton, Ontario.
Esmail
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Sibbald
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Doig
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D003363:Cost Control / Q000379:methods; D003365:Costs and Cost Analysis; D003625:Data Collection; D004865:Equipment and Supplies, Hospital / Q000191:economics / Q000706:statistics & numerical data; D005377:Financial Management, Hospital / Q000379:methods; D019538:Health Care Surveys; D006764:Hospitals, Community / Q000191:economics / Q000706:statistics & numerical data*; D009864:Ontario; D011682:Purchasing, Hospital / Q000706:statistics & numerical data*; D013673:Technology Assessment, Biomedical / Q000706:statistics & numerical data*