Price is more important than long-term effectiveness when purchasing medical devices, finds research from Aalto University School of Business, Erasmus University Rotterdam and Bath University School of Management. The researchers presented over 1,300 purchasing managers, medical professionals, and general managers in the UK with a hypothetical choice between two pacemakers to bulk-buy: a cheaper basic model and a more expensive model with infection-reducing qualities. In the experiment, participants were given a scenario in which they gained a personal bonus on cost savings if the cheaper device was chosen. In this hypothetical situation, the researchers find purchasing managers choose the cheaper option without the increased effectiveness, while medical professionals do not. The researchers are concerned by this finding, as healthcare procurement … Continue reading Price of medical devices matters more to buyers than long-term effectiveness