By gaining control over the prices of your spine and orthopedic implants, your facility can achieve substantial savings that go directly to the bottom line. But achieving this control requires considerable technical and clinical expertise specific to these types of implants. That's where Advantien comes in.
When you partner with Advantien for Implant Price Negotiations, it's our work on the back end that delivers the results you desire on the front end. We start by performing a comprehensive analysis of your historic implant pricing using our deep understanding of pricing and extensive experience with the clinical and technical side of the implants. This knowledge comes from our history of designing, developing, manufacturing and distributing medical devices, providing clinical support for spinal and orthopedic surgeries, and collaborating with surgeons on bringing new devices to market.
We also continue to keep current with new technologies in spine and orthopedics by monitoring FDA clearances and clinical studies of new and existing products. We are intimately aware of the full landscape of prices, products, companies, payors, and reimbursement rates and changes.
Using our understanding of the price points that are attainable — based on comparable pricing in your area, what price points certain vendors have historically agreed to, differentiating premium from commoditized products especially with regards to new technology, and national benchmarking — Advantien will establish target pricing for each of your products with each of your vendors.
We don't just take your prices, compare them to a big spreadsheet of benchmark prices and spit out some pricing targets. Although benchmarking is one strategy we will use for you, our success with achieving substantial savings is directly tied to our understanding that spine and orthopedic implants are more than just numbers in a spreadsheet. We know the development and clinical history of the devices, how they are used in surgery, why surgeons may or may not prefer them, and how devices compare to other similar products. This complete knowledge enables us to be much better negotiators.
Once we analyze your historical data and establish new price targets, we will negotiate directly with your existing vendors, on behalf of your facility, to attain the targeted savings.
Our "insider" medical device experience — having previously sold implants to hundreds of hospitals and surgery centers across the country — allows us to successfully navigate the tactics that medical device sales reps use to inflate prices.
What you can expect when you partner with Advantien for Implant Price Negotiations:
- 10-25%+ savings from current vendors, even with GPO prices.*
- Ongoing implant pricing negotiations with new products and vendors to ensure savings are continually maximized.
- As much or as little involvement from your administration (e.g., materials management) as you want.
To learn what our Implant Price Negotiations service can do for your facility, contact us.
* Actual savings potential depends on your current pricing. These are typical savings achieved for an ambulatory surgery center.