Benefits of Aligning Your Practice With a Purchasing Partner

Purchasing supplies for your practice can be both time-consuming and overwhelming. Finding a purchasing partner can help reduce the stress associated with these purchases.  A purchasing partner will help find the best prices available for the items you are purchasing and look for new saving opportunities.  With the rising costs of goods and decreasing reimbursements, it is crucial to maximize every dollar spent by your practice. There are numerous options available in today’s market that your practice can benefit from if utilized properly. Below, we explore several areas where a purchasing partner can be beneficial.

1. Assistance in Selecting the Best Distributor for Your Practice

 A distributor is the company that ultimately gets the supplies to your practice, choosing the right distributor is crucial when purchasing supplies for your medical practice, as there are many available options. You might find that working with more than one distributor is a good business strategy for your supply purchases. Some companies excel in customer service, while others offer more competitive pricing. Considerations such as delivery speed, the frequency of representative visits, and order frequency are important in selecting the best distributor for your practice. A distributor that understands your needs will be a valuable asset. It is important to communicate your specific requirements so they can offer appropriate product options. For example, if cost is a primary concern, consider private label items from your distributor. Alternatively, if regular visits from a representative are unnecessary, an online account might be preferable. A purchasing partner can help tailor your distribution strategy to your needs.

2. Connecting with a Group Purchasing Organization (GPO)

Partnering with the right GPO can significantly reduce your supply costs. GPOs handle the negotiation of contract pricing with manufacturers, easing the burden on your practice. Most likely, your current distributor is authorized to work with various GPOs, and they can facilitate connecting your practice with a suitable GPO. Once connected, you will receive contract pricing (pre-negotiated prices) on the items you already purchased, though not all items may be covered under these contracts. The items that are covered can substantially lower your costs without altering your purchasing patterns. There are several GPOs available, and with the assistance of your purchasing partner, you can select the one that best meets your needs.

3. Price Monitoring Acts as a Watchdog on Your Behalf

A key benefit of having a purchasing partner is their role in monitoring pricing changes. Given the frequent changes in prices and contracts, staying informed is essential but may not seem practical amidst the daily operations of a medical practice. Here, a purchasing partner can act as a watchdog, constantly seeking better pricing and contracts that suit your practice’s needs. They prioritize your best interests and might also have the capacity to negotiate purchases on behalf of your practice. This can free up time, allowing you to focus on other important aspects of your practice.

Ensure Peace of Mind With a Purchasing Partner

Aligning your medical practice with a purchasing partner offers numerous benefits for your supply purchasing. It ensures peace of mind, knowing that someone is consistently seeking the best pricing available for your purchases. Furthermore, working with a purchasing partner can help free up time, allowing you to concentrate on other vital areas of the practice that require your attention.  If you have any questions regarding any of these topics, please contact us.