MANAGING HEALTHCARE COSTS Risk-Based Contracting & Process Innovation

ELEVATING CONSIDERATION OF PATIENT OUTCOMES IN PROCUREMENT STRATEGY
Southlake Regional Health Centre, Ontario

Southlake engaged in competitive dialogue to explore innovative procurement — allowing consideration of:

  • The value of a product or service beyond price
  • Patient outcomes, such as faster recovery time or reduced risk of rehospitalization
  • Device longevity
  • The most appropriate product or service for each individual patient

RISK-BASED CONTRACTING
Medtronic Partnership with Lehigh Valley Health Network, United States

A ground-breaking partnership involving 8 hospitals in the Lehigh Valley Health Network (LVHN) is designed to deliver better care for hundreds of thousands of patients while saving the health system tens of millions of dollars. 

The partnership:

  • Uses expert analytics teams to crunch anonymous patient data from health records, claims information, and medical devices
  • Initially focused on 10-15 health conditions and multiple service lines
  • Leverages Medtronic technology