Evolution of Transactional Vendor-customer Relationships into Shared-risk Partnerships
NEW YORK, March 22, 2016 /PRNewswire/ -- Evolution of Transactional Vendor-customer Relationships into Shared-risk Partnerships : Assessing the Changing Business Models Between US Hospital Systems and Medical Imaging Vendors
The relationships between imaging vendors and hopsital systems are evolving. From traditional one-time purchase and service contracts, vendors and hospital systems are currently entering into long-term strategic risk-sharing partnerships that enable care providers to optimize patient scanning experience, improve work flow efficiencies, reduce costs, and improve the overall quality of imaging services. This study assess the evolution of these relationships and their impact on various stakeholders involved.
Current Hospital Radiology Department Landscape at a Glance
Hospitals are currently in the process of refining internal processes and cost structures to cope with reduced reimbursements and declining in-patient volumes. As a consequence, the autonomy of radiology departments has steadily declined over the last few years.
Hospitals do not currently view radiology departments as profit centers and have sought to align radiology investments and processes with overall institutional objectives. As a result, hospitals do not seek to manage risk at the radiology department level specifically but at an overall institutional level.
Radiology contracts have traditionally lacked risk-sharing components, except in cases of servicing costs relative to response time and uptime and damages to high-value components. Radiology departments have preferred high-price short-term contracts for outright acquisition over long-term contracts involving the joint management of technologies with the vendor.
Recent trends indicate that independent hospitals currently seek strategic partnership contracts with vendors that allow standardization of imaging technologies, enhanced support services, and competitive product pricing. Some independent hospitals, however, believe that aggressive negotiations and purchase of extended warranties negate the need for such strategic partnerships.
Multi-year enterprise partnerships between vendors and hospital radiology departments are becoming more common and are seen as ideal for large health systems. The inherent benefits of this partnership type include contingencies for unexpected costs, training of in-house radiology staff by the vendor, and joint management of radiology equipment by both the vendor and the hospital
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