LOUISVILLE, Colo.--(EON: Enhanced Online News)--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.
“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”
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)
- The Med-Surg segment totaled $9.6B in Q4 2016
- Parenteral was again the largest major segment at $771M, 8.1 percent of total Med-Surg
Med-Surg Market Quarterly
- Med-Surg market segments showed a 3.1 percent current quarter over quarter increase, growing from $9.26B in Q3 2016 to $9.55B in Q4 2016
- Hospital segment experienced quarter over quarter percent increase of 2.8 percent growing from $6.1B in Q3 2016 to $6.3B in Q4 2016
- Alternate Site markets experienced quarter over quarter increases of 3.7 percent from Q3 2016 to Q4 2016
- Within Alternate Site, Treatment Centers experienced the largest percent increase of 11.4 percent growing from $371M in Q3 2016 to $413M in Q4 2016
Q4 2016 By the Numbers: Clinical Laboratory Segment
Clin-Lab Leaders (dollar volume by market segment)
- Point-of-Care Testing Reagents/Supplies was the largest major segment with $1.18B or 54.5 percent of total Clin-Lab
- Home Healthcare is the largest contributor at $950.1M, 44.1 percent of the total Clin-Lab volume
- Hospital was the second largest contributor in volume at $612.2M or 28.4 percent of the total
Clin-Lab Market Quarterly:
- Clin-Lab markets showed a 3.9 percent current quarter over quarter increase, growing from $2.07B in Q3 2016 to $2.15B in Q4 2016
- Alternate Site segments also experienced quarter over quarter percent increase of 4.4 percent growing from $1.48B in Q3 2016 to $1.54B in Q4 2016
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.