New Technology in Physician Preference Items and Controlling Costs

by | Feb 18, 2021 | Conversations With VIE, Healthcare IT, Physician Preference Items, Videos


This video was brought to you by Rich Dormer and Bryan Covert.

New technology in physician preference items are increasing costs while not necessarily increasing the reimbursement. Click To Tweet

Some recent trends we’ve seen at VIE Healthcare Consulting, especially in total joint orthopedics, includes the usage of new materials for the same component. In the case of total knee replacement, we’re seeing the traditional plastic liner being replaced by one treated with vitamin E, which can lead to an extra $1000 cost-per-case just for that new material.

However, these trends aren’t isolated just to total joint applications. We’re seeing similar trends occurring in other areas like total hip and total spine orthopedics.

Ultimately, it’s important when new technology is introduced that it’s done at the same rate as the existing components that are being used. Hospitals should not be taking on the increased costs of the new technology while the vendor reaps all the benefits via increased revenue.

Learn more about new technology costs in this video and how VIE Healthcare Consulting can help your hospital in cost-saving initiatives.

For a complimentary consultation, call our office today at 1-888-484-3332, Ext 500 or email us at [email protected]

Recent Research Reports

Categories

Archive Search

U
Discover 15 Effective Cost Savings Strategies That Most Hospitals Can Apply Right Now

Discover 15 Effective Cost Savings Strategies That Most Hospitals Can Apply Right Now

We are making this report FREE for a LIMITED TIME. In it you will learn how to maximize your hospital's profitability while enhancing patient care. The report includes:

  • A strategy developed from analyzing over 5,000 hospitals
  • A simple step-by-step plan in plain language
  • Proven processes to organize and motivate your team to find savings

Check your inbox and spam folder for your 15 Effective Cost Savings Strategies