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Glossary Term
Group Purchasing Organization (GPO)
Definition
A Group Purchasing Organization (GPO) is an entity that helps healthcare providers, such as hospitals, clinics, and long-term care facilities, obtain medical devices, supplies, and services at reduced costs by leveraging collective purchasing power. GPOs negotiate contracts with manufacturers and suppliers, enabling their members to access pre-negotiated pricing and terms.
Relevance to the MedTech Industry
GPOs play a critical role in streamlining procurement processes and driving cost efficiency for healthcare organizations. For MedTech manufacturers, GPOs provide access to a large network of potential buyers, simplifying market entry and increasing sales volume.
Additional Information & Related Terms
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