Healthcare Industry News: joint replacement
News Release - March 20, 2008
Premier Hospitals, Healthcare Providers to Save with New Orthopedic Total Joint Implant ContractsCHARLOTTE, N.C.--(HSMN NewsFeed)--Premier Purchasing Partners, LP, today announced new agreements for orthopedic total joint implants that include the latest technologies, additional pricing models and other features that offer members potential savings.
Contracts have been awarded to Biomet Inc. of Warsaw, Ind.; Stryker Orthopaedics of Mahwah, N.J.; and Zimmer of Warsaw, Ind. as well as Encore Medical of Austin, Texas, a DJO Incorporated company: and Exactech Inc. of Gainesville, Fla.
“The strength of these new contracts is in the wide range of value in addition to competitive pricing,” said Mike Georgulis, Purchasing Partners vice president, sourcing. “Based on member input, we negotiated significant improvements to our terms and conditions. Improvements include improved price protection periods that limit future yearly increases and capitation pricing options to allow members to pay a set price for a total joint procedure type. In certain cases, elimination of loaner fees and standard shipping costs will result in significant savings over the life of the contracts as well.”
As part of the contract launch, Premier’s OrthopedicAdvisor Web site will be updated with new tools and resources, including a price modeling tool to assist members. Planned are a workshop at Premier’s annual Breakthroughs Conference in June and a series of regional orthopedic educational forums to begin in fall 2008 that will feature topics such as disease management, best practices, reimbursement and coding.
“Premier members also have access to analytical tools such as OrthopedicFocus, our comparative tool for total joint replacement supply chain data,” Georgulis said. “We are also modeling the integration of Premier Informatics ClinicalAdvisorTM benchmarking and OperationsAdvisorTM labor management tools to explore savings opportunities for members who subscribe to these tools.”
The 36-month portfolio will be effective April 1, 2008.
About Premier Inc., 2006 Malcolm Baldrige National Quality Award recipient
Serving 1,700 U.S. hospitals and more than 49,000 other healthcare sites, the Premier healthcare alliance and its members are transforming healthcare together. Owned by not-for-profit hospitals, Premier operates one of the leading healthcare purchasing networks and the nation's most comprehensive repository of hospital clinical and financial information. A subsidiary operates one of the nation's largest policy-holder owned, hospital professional liability risk-retention groups. A world leader in helping healthcare providers deliver dramatic improvements in care, Premier is working with the United Kingdom's National Health Service North West and the Centers for Medicare and Medicaid Services to improve hospital performance. Headquartered in San Diego, Premier has offices in Charlotte, N.C., Philadelphia, and Washington. For more information, visit www.premierinc.com.
Source: Premier Purchasing
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