Innovation Lifecycle Management: Procurement Models

Healthcare sector is moving towards a great evolution - moving away from ‘traditional’ lowest price procurement strategies and product buying to value-based procurement models. Healthcare delivery organizations are showing a noticeable shift towards quality, services, and solutions by adopting innovative technologies. This, however, affects sustainability of today’s health care systems forcing them to explore innovative procurement models such as value-based procurement models. The focus of value-based procurement in healthcare is to ensure delivery of high-quality healthcare services and solutions to patients and moving away from the traditional lowest price procurement strategies and product buying. Value-based procurement delivers whole-life cost savings and service improvements across product pathways beyond traditional, narrow price-based measures. Fixed-price procurement arrangements can reduce production costs than cost-plus procurement arrangements by inducing far greater efforts. Adoption of innovative procurement models into hospitals' systems can help achieve defined outcomes like quality, safety, and cost of care delivery.

Know anyone building innovative solutions that belong in this  'Procurement Models'?

Topic Community Insights

Total: 0 Product: 0 Solution: 0 Service: 0 News: 0 Events: 0

Related Topic Community

    Innovation Lifecycle Management: Procurement Models Topic Insights