Why do we source for Value and what is it?
The HANDLE selection series will delve into why and how HANDLE approaches capital equipment and supply purchasing with value as the first priority, as well as information regarding HANDLE partners and how we can help providers choose what works best for their facility and budget.
In our previous blog post, The Rural Hospital Dilemma, we covered the immense and immediate pressure that rural hospitals face in cutting costs. Rural hospitals are not alone in this pressure, as most community and regional healthcare providers of all sizes are feeling the same pressure on their finances, especially in the current climate of more and more healthcare mergers, resulting in layers of competitive and reimbursement pressure.
Value is a very simple equation. Quality + Price = Value. However, both quality and price have deeper meanings for the sophisticated buyer. Quality is more than cosmetic condition and a brand name. Quality includes the product and the buying experience, such as:
- Ease of search
- Access to items that can’t be found elsewhere
- Availability of accessories and related products
- Ongoing service
Price can also have more depth than the listed price, things like:
- Trade-in value
- Install or De-install
- Service agreements beyond initial warranty
- Finance costs
HANDLE was started with the mission to create value by uniquely protecting sellers and helping buyers discover opportunities that they couldn’t previously see – bending the healthcare cost curve in the process in the $180B United States medical device industry. HANDLE works with providers (hospitals, surgery centers, clinics, etc.), manufacturers, and others to create the trusted value marketplace in healthcare. Patients get needed healthcare products, sellers recoup value, buyers get a significant discount, and items stay out of the waste stream.
HANDLE sources for value to enable our healthcare providers to stretch their capital spend further while maintaining the same or higher levels of care. We search the globe for value – high quality equipment and supplies at fair and sustainable prices.
Next on the HANDLE Selection Series: What does it take to make the cut? How does HANDLE select the refurbishers and manufacturers that sell on our platform?