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Controlling Costs and Physician Preference Items
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 firstname.lastname@example.org.