The inflation rate is on the rise—and has been for a while. You’ve probably seen your cost-of-living expenses go up, as everything from apples to appliances to automobiles get more expensive. Unfortunately, your cost-of-doing-business expenses as an ENT practice owner aren’t immune to inflation either.
Supply chain disruptions caused by the pandemic are a second cause for the price hikes for medical supplies and equipment. Hopefully, these disruptions will resolve in time. But for now, ensuring you have the high-quality essentials you need to diagnose and treat your patients while also maximizing the profitability of your practice requires a new approach.
Keep Your Costs Lower with US ENT Partners
If you’re like most otolaryngologists, you spend around $300,000–$400,000 annually on clinical and nonclinical supplies and equipment. That means that the current price escalations could have a considerable impact on your bottom line.
In order to provide you with a solution to both higher pricing and supply shortages beyond your Audiology department, Fuel Medical has partnered with US ENT Partners. US ENT is a group purchasing organization (GPO), specializing in providing individual ENT practices with best-in-class prices on medical supplies and equipment. By aggregating the purchases of physicians nationwide, they can offer private practice otolaryngologists substantial discounts on products from a wide variety of market-leading suppliers.
These discounts are nothing to sneeze at—over the years, the US ENT members have saved tens of thousands of dollars or more annually. One of their most effective mechanisms in driving savings are multi-year negotiated contracts with suppliers. With the current economic climate, many suppliers are increasing prices anywhere from 3 – 20% each year. US ENT practices enjoy the advantage of fixed, predictable contract pricing. Currently, practices working with US ENT save an average of 17% on their supplies and equipment annually, with the potential to save closer to 20% as supply chain issues & price escalations continue.
Now more than ever, it’s time to efficiently manage expenses. With best-in-class prices from US ENT, you can help insulate your practice from high price increases, giving you the peace of mind and security of knowing you’re keeping your costs as low as possible.
Less Time on Business, More Time with Patients
Partnering with US ENT keeps the hassle of haggling with suppliers over contracting agreements off your plate and keeps you where you want to be—with your patients. You’ll be able to book more appointments, which increases your profitability, and help care for more people’s health, which is why you got into medicine in the first place.
Maintain Your Practice’s Independence
In the highly competitive health care world, there’s a lot of pressure on private practice ENTs to give up the independence of running their own practice and seek employment through a hospital, the government or a private management group instead.
US ENT’s focus on decreasing supply costs and identifying new ways of increasing your revenue makes it easier for you to stay autonomous and in control of your daily work life. You can continue to practice medicine the way you want to—and enjoy the freedom that comes with being your own boss in a business that’s profitable and patient focused.
Interested in locking in US ENT’s best-in-class prices or learning more about how we can benefit your practice? Ask your Fuel regional manager for more information.