Global Healthcare Exchange, LLC (GHX) released fourth quarter 2016 data and 2016 results for distributed sales in both Medical-Surgical (Med-Surg) and Clinical Laboratory (Clin-Lab) product segments in healthcare. The new GHX Market Intelligence “By the Numbers” quarterly report revealed that the Med-Surg segment grew 5 percent year over year in the fourth quarter 2016 to $9.6B in volume and the Clin-Lab segment grew 12.4 percent year over year to $2.15B in the fourth quarter.
The new report also reported strong overall 2016 results. For Med-Surg, Alternate Sites turned in 5.9 percent growth in 2016, a solid 10.4 percent growth from 2014 to 2016. The largest growth segment was Treatment Centers, growing 12.7 percent in 2016. For Clin-Labs, Alternate Sites grew 14.3 percent in 2016, representing 23.5 percent growth from 2014 to 2016. Home Healthcare was the largest growth segment at 20.9 percent in 2016.
“We believe that growth in Treatment Centers and Home Healthcare provides further evidence that healthcare continues to respond to changing market conditions and financial pressures, resulting in the move to provide care outside the traditional brick and mortar hospital setting,” said Paul Frank, manager, Product Management Business Intelligence, GHX.
The newly released GHX Market Intelligence quarterly report is based on data from the top 20 U.S. healthcare distributors, representing approximately 75 percent of all distributed healthcare sales in the United States. This represents $45B+ invoice dollars and 100M+ invoice lines of distributed sales for Med-Surg and Clin-Lab products and supplies annually.
The complete fourth quarter 2016 Med-Surg and Clin-Lab segment reports are available at GHX Market Intelligence. Highlights from the Q4 reports include:
Q4 2016 By the Numbers: Med-Surg Segment
Med-Surg Leaders (dollar volume by market segment)
Med-Surg Market Quarterly
Q4 2016 By the Numbers: Clinical Laboratory Segment
Clin-Lab Leaders (dollar volume by market segment)
Clin-Lab Market Quarterly:
GHX Market Intelligence methodology and processes have been in existence for nearly 20 years, being refined and optimized to be the most accurate and complete source for market size and market share of distributed sales reporting for Med-Surg and Clin-Lab. Each month, GHX receives data from the top 20 U.S. healthcare distributors. The distributed sales information then goes through a defined process where the data is standardized, normalized and classified, using GHX proprietary algorithms, nomenclature and credentialed professionals.
Global Healthcare Exchange, LLC (GHX) drives costs out of healthcare with cloud-based supply chain management technology and services in order to help enable better patient care and savings by maximizing automation, efficiency, and accuracy of business processes. GHX offers healthcare providers and suppliers an open and neutral electronic trading exchange that delivers procurement and accounts payable automation, contract and inventory management, vendor credentialing and management, business intelligence, payment management, and other supply chain-related tools and services. For more information, visit www.ghx.com and The Healthcare Hub.