Making Purchased Service Benchmarks Work for You

Today Buyers Meeting Point welcomes James Bouchard as our guest. James is the VP of Operations for MedPricer, a purchased services platform dedicated to the needs of the healthcare industry.

He is responsible for the global delivery and operations of Medpricer’s sourcing services and technical operations and creating Medpricer’s incumbent-focused ISN™ process. One of the key components of better managed purchased services is the benchmarking of current rates – something James and the MedPricer team have invested significant effort in.

James recently authored a multi part blog series titles Why Most Purchased Service Benchmarks Don’t Work & What You Can Do About It. You can read Part I and Part II on the MedPricer blog.

In this conversation we discuss,

• What people typically refer to as benchmarks and how they sometimes fall short of accomplishing their intended purpose
• The factors that need to be addressed by a benchmark for it to be representative?
• When happens when poor benchmarks are used - even with the best of intentions?
• How companies can improve their services benchmarking