Live Group Buy

Value for the Best Technology

Rapid advances in technology, complexities in analyzing technology pricing, numerous suppliers, extended contracts, and obscure or non-existent service agreements can make finding the right supplier a time-consuming and complex challenge that can lead many providers to look for quick solutions. However, relying on contracts with a group purchasing organization’s existing relationships or on seasonal promotions by suppliers doesn’t necessarily allow you to find the best medical capital equipment – with the features, benefits and technology you may really need for quality patient care – at the best cost savings. Broadlane’s Live Group Buy program can help providers find the best medical capital equipment to meet the financial needs of purchasing executives, as well as the state-of-the-art technology needs of clinicians.

The Broadlane Live Group Buy process is unique within the industry: Participants determine and weight the criteria used to evaluate the equipment and suppliers. Participants then rate supplier technology, identify key operational support components, participate in live negotiations and ultimately make a contract award.

• Technology – each supplier is evaluated using specific criteria and scoring methods developed by the purchasing customers.
• Service – service is evaluated separately using objective, measurable criteria established by the purchasing customers.
• Total cost of Ownership – Broadlane provides a financial analysis based on equipment, warranty and service costs, based on the depreciable life of the equipment as determined by the participating customers.

A dynamic develops among suppliers during the meetings which accelerates the negotiations and clarifies the providers’ needs. What’s more, the aggregated purchasing power, objective evaluation, contracting expertise and rapid decision environment secure the best possible price given the requirements agreed upon upfront by the providers who participate.

At the conclusion of the meetings, Live Group Buy participants select a vendor, negotiate key terms of the agreement and award vendor contracts. The process allows providers to drive the timing and terms of contracts. Contracts are negotiated for one year on the base configuration and three years on options and service. This gives the flexibility to make appropriate adjustments on an annual basis in light of new technology and pricing trends.