Though it may be convenient, it is not cost effective to purchase all of your product categories through a single vendor. The majority of practices consolidate their purchases through one primary supplier because of time constraints and convenience.
The PDx Purchasing Platform solves this problem. We load and direct each item on a site’s formulary to the most competitive vendor. The PDx user can place a single order while the platform seamlessly generates multiple purchase orders and transmits them to the appropriate vendor.
PDx on average divides a practice’s purchases that are serviced through their current primary supplier into 3-4 total suppliers that specialize in a given product category.
Competition between vendors drives savings opportunities.
Most medical practices are continually frustrated with their inability to control costs from their vendors and control purchasing behavior of their staff. Vendors’ prices may lower on one product while increasing on several others. Purchasing staffs struggle to maintain a grip on their costs while keeping up with other responsibilities.
You can take control of both issues with the PDx Process and the PDx Purchasing Platform.
Purchasing staff decisions are predetermined through the PDx formulation process. The products that should be ordered will be ordered through the PDx Purchasing Platform for the best price opportunity. The practice administration can choose to require management approval for staff to purchase outside of the formulary list or to add items to the formulary list.
The PDx Purchasing Platform alerts staff if minimum order requirements per vendor have not been met on a purchase order. Management can restrict staff purchases that are below minimum order requirements to eliminate additional vendor fees.
Annual reviews are supplied that review all off-formulary purchases made per user and the number of orders per user that did not meet minimum requirements to avoid fees.
Staying on top of the convoluted factors that can affect product pricing is an enormous feat that requires an in depth knowledge of all of the elements of the medical and pharmaceutical supply industry.
Often intermittently bidding between primary suppliers provides initial cost savings, but those savings disappear with time. It is no longer necessary to complete an annual bidding process between vendors.
Because your distributed purchases will be placed through the PDx Purchasing Platform, changes in pricing by item can be tracked over time intervals.
The PDx team is behind the scenes continuously monitoring vendors and pricing on behalf of all PDx users while adjusting formulary product mixes, investigating contract changes, and eliminating vendor errors.
…True, Sustainable Savings