Game Theory Delivers Reduced Prices on Trauma Implants
A generalizable recipe for hospital-surgeon collaboration to keep prices down and implant options up
Smart Practice: Try this supply chain–based approach to lowering prices on trauma implants, which netted 7-figure savings and little reduction in surgeon choice.
What’s the Claim?
A thoughtful, structured approach to negotiation on trauma implant prices resulted in >$ 1 million annual savings – a 23% reduction. Under their approach, 11 of 12 vendors approached reduced their prices, with the largest percentage reductions coming from external fixators, drill bits, and k-wires, though plates and screws did well in terms of reducing the overall annual costs.