Product benchmarking can be based on simple ratios related to volume, price and geography. However, in purchased services, ratio benchmarks provide no insight into the quality of a service provided, according to Chris Gormley, CEO of Connecticut-based Medpricer.
Originally posted on Becker’s Hospital Review, click here for full article.
Download for more information about how precision benchmarking can help healthcare systems get the best prices from their suppliers.
Click here to read what TPC says about how they leveraged Medpricer’s nationwide data to confidently challenge existing suppliers on their pricing, service levels and terms resulting in increased savings and a more efficient process to advance negotiations faster.