Margins in hospitals across America are tight, and it appears that due to recent trade issues those margins are going to get even tighter. According to the American Hospital Associations Executive Vice President Thomas Nickels, “recent tariffs are estimated to increase the cost of medical equipment and supplies typically purchased by hospitals and health systems by at least $160,000,000 per year.”
When tariffs are imposed, often the consumers of the products carry the brunt of the fiscal load. This means that American consumers, in this case hospitals, are going to be paying more for products that are being imported from China to the tune of an estimated $160M increase, making the task of going from red to black harder than ever. In these hard times, it is more important than ever to turn to alternative procurement methods, using tools like the H-Source Marketplace™. H-Source provides a network marketplace for healthcare facilities to buy and sell idle stock with one another at significant cost savings for the buying facility while simultaneously allowing the seller to recoup the cost of those items. Request a demo and start saving today!
Read the letter from American Hospital Associations Executive Vice President Thomas Nickels regarding the impact of tariffs on healthcare supply chain.