Durable Medical Equipment Operations and Management-Video: Supplier Relationships and Contracts

Video: Supplier Relationships and Contracts

Video Transcription

Video Summary

The video discusses strategies for managing supplier contracts and relationships within a Durable Medical Equipment (DME) program. Nick Hopper emphasizes choosing vendors wisely, considering both cost and overhead. He explains the role of Group Purchasing Organizations (GPOs) in negotiating discounts and rebates with vendors, often saving practices up to 18% on costs. Hopper advises understanding shipping terms to minimize expenses and avoid costly expedited shipping. He highlights the importance of regularly reviewing vendor terms, leveraging GPOs, and considering rebates to enhance profitability and operational efficiency in healthcare practices.

Keywords

supplier contracts

Durable Medical Equipment

Group Purchasing Organizations

vendor management

healthcare profitability