The Real Value of Membership
Medbuy continues to deliver significant value to its Members through invoice savings, rebates and other strategic initiatives that have a positive impact on Members as well as the healthcare industry at large.
Medbuy's principles of commitment and compliance, combined with transparent financial stewardship, maximize value for Members.
Medbuy's combined contract purchases totalled nearly $757 million in 2009, which represents an increase of 9 per cent over the previous year. This continued growth is an extension of the year-over-year growth our Members have come to expect.
MEDBUY CORPORATION CONTRACT PURCHASES
Each year, Medbuy strives not only to grow the contracted dollar volume, but also to increase the rebates returned to Members. During 2009, Medbuy returned 100% of the more than $46.5 million in rebates it collected from suppliers to its membership.
Value Beyond the Bottom Line
Beyond our ability to drive bottom line results, Medbuy offers unique value added services that grow our Members' knowledge base and positively impact healthcare delivery.
From the bottom line and beyond, the benefits of membership include:
- Significant invoice savings through increased purchasing power and high levels of participant commitment
- Quarterly distribution of rebates, which allow Member hospitals and healthcare organizations to redeploy critical dollars throughout their facility
- Involvement in key contracting decisions
- Access to Medbuy's mSourcing spend management system, a web-based suite of strategic applications from Sourcing to Rebate Management
- Opportunities to access professional development for individuals within Member facilities through Medbuy's Research, Education and Development (R.E.D.) Fund
- Regular networking with peers from other Member facilities
