Over the next 10 years, group purchasing organizations are positioned to generate incredible savings for the healthcare industry. A report released by the Healthcare Supply Chain Association and healthcare economists at Dobson DaVanzo & Associates found GPOs could help reduce overall healthcare spending by up to $864.4 billion by 2022.
The economic analysis found Medicare and Medicaid will experience significant savings over the same time period as well, at $229.3 billion and $169.5 billion, respectively.
In 2012, GPOs generated $55.2 billion in savings to the healthcare system, and researchers believe this trend will continue.
Researchers even suggest these savings estimates fall on the low side. Since GPOs bring down supply costs, "this means that there is some portion of the savings attributable to GPOs which is 'buried' in the baseline and is incalculable," according to the report.
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