Transparency and Negotiated Prices: The Value of Information in Hospital-Supplier Bargaining
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payment & delivery
hospital
medical technology
devices and diagnostics
Health and Medical Administration
Health Services Administration
hospital
medical technology
devices and diagnostics
Health and Medical Administration
Health Services Administration
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Abstract
Hospitals that join a pricing database are able to reduce the negotiated prices they pay to medical technology companies. Reductions are concentrated among hospitals previously paying high prices relative to other hospitals and for products purchased in relatively large volumes. Transparency may offer significant savings on medical devices.
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2016-03-21