Medpricer Reports U.S. Hospitals Collectively Overspend an Estimated $39B Annually on Purchased Services


Medpricer, the leading purchased services cost management solution for the healthcare industry, announced today that American hospitals overspend an estimated $39 billion on purchased services, which encompass all outsourced contracts – both clinical and non-clinical.

 Purchased services account for approximately 20% of a hospital’s total operating costs. According to the American Hospital Association, registered U.S. hospitals spent $991 billion on annual operating expenses in 2017. Taking the 20% equation into consideration, this means approximately $198 billion of that spend can be attributed to purchased services expenses. Medpricer customers regularly see 24% savings on their purchased services, which equates to a total of $39 billion left on the table annually.  

To achieve meaningful savings on purchased services, Medpricer helps its customers benchmark their spend, analyze their supplier contracts, and manage the entire sourcing lifecycle through their proprietary mSource software platform. With end-to-end sourcing systems in place, healthcare providers have collectively saved $700 Million with Medpricer. 

“We are dedicated to elevating the supply chain and enabling hospitals to lead purposeful, efficient sourcing strategies,” said Medpricer CEO Chris Gormley. “With nearly 15 years of experience in gathering marketplace intelligence and with our ever-expanding product line, our growing team is eager to continue healthcare organizations achieve further sourcing independence and improve their financial health in 2019.”

For more information on Medpricer, please visit www.medpricer.com.

 



January 3, 2019


Topic Area: Press Release


Recent Posts

Why Healthcare Facilities Management Is Critical to Patient Safety 

Hospitals and other healthcare facilities rely on much more than doctors and nurses to keep patients safe.


Brookdale Senior Living Announces Acquisition of the Brookdale Galleria Community

The 244-unit independent living and assisted living community is located directly adjacent to The Galleria shopping and entertainment complex.


Erlanger Health System Falls Victim to Data Breach

Erlanger has no evidence of any improper use of the information because of this incident.


Technological Readiness: The Missing Construction Milestone

A new building can be complete by most measures but still not be technologically or operationally ready.


From Cooling Towers to Cost Savings: Hospital Seizes Power-Saving Opportunity

Case study: Arkansas hospital increases energy efficiency by diagnosing cooling tower issues and treating its entire mechanical system.


 
 


FREE Newsletter Signup Form

News & Updates | Webcast Alerts
Building Technologies | & More!

 
 
 


All fields are required. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

 
 
 
 

Healthcare Facilities Today membership includes free email newsletters from our facility-industry brands.

Facebook   Twitter   LinkedIn   Posts

Copyright © 2023 TradePress. All rights reserved.