Analysis Finds U.S. Medical-Surgical Manufacturers Using GHX Market Intelligence Grew Revenue Faster Than Non-Users in 2009
7/29/2010 9:33:31 AM
LOUISVILLE, Colo., July 29 /PRNewswire/ -- An analysis of medical-surgical sales through distribution conducted by GHX has found that among the top 100 U.S. medical-surgical manufacturers by dollar spend, those that use GHX Market Intelligence data grew medical-surgical revenue through distribution by an average of 6.42 percent in 2009, while non-users grew similarly classified revenue by an average of only 3.88 percent. Furthermore, GHX's analysis also found that those manufacturers employing more granular-level market data from GHX increased revenue at a faster rate than those using higher-level data.
GHX Market Intelligence tracks and reports on more than $35.5 billion of distributed sales for medical-surgical and clinical laboratory supplies and devices delivered from 27 of the nation's leading distributor members of the Health Industry Distributors Association (HIDA). Manufacturers use GHX Market Intelligence to better understand their market share compared to competitors, as well as growth opportunities by market and product.
GHX analyzed sales through distribution by dollars spent on medical-surgical products from the first quarter through the fourth quarter of 2009 and determined that GHX Market Intelligence users grew medical-surgical revenue through distribution faster than non-users during this time period. Other key findings of the GHX analysis include:
- 90 percent (or 18) of the top 20 U.S. medical-surgical manufacturers by dollar spend use GHX Market Intelligence data to gain greater insights into the medical-surgical marketplace.
- Among all manufacturers that use GHX Market Intelligence data, those that employ data down to the granular, three-digit ZIP code level grew their medical-surgical revenue through distribution by an average of 7.49 percent in 2009, while those that employ national-level data grew their similarly classified revenue by an average of 4.14 percent.
GHX Market Intelligence is a comprehensive source for accurate, detailed and timely data for the acute and alternate site healthcare markets, containing geographically relevant and competitive market share, size and average selling price reporting down to the three-digit ZIP code level. Leveraging GHX Market Intelligence data, medical-surgical manufacturers can better align resources, improve demand planning to meet customer needs, support distributor sales and target opportunities to drive revenue growth in new and existing markets.
"Top-performing medical device manufacturers have found that aligning sales efforts with available market opportunities is critical to success in today's challenging business environment," said Ed McCauley, vice president, E-Sourcing and Business Intelligence, GHX. "In the coming months, as manufacturers conduct sales planning and forecasting for next year, GHX Market Intelligence data will assist them in gaining a clearer understanding of the competitive landscape and help them identify where they can best invest their resources for maximum growth in 2011. We have seen more and more companies make this data an integral part of the planning process, and the results speak for themselves."
As the business hub for healthcare, Global Healthcare Exchange, LLC (GHX) enables healthcare providers and suppliers in North America and Europe to reduce costs and improve margins by automating processes, reducing operating expenses and increasing knowledge-based decision making. Products and services include trading partner connectivity, order and contract management and validation, data synchronization, sales force automation and business intelligence. Equity owners of GHX are Abbott Exchange, Inc.; AmerisourceBergen Corp.; Baxter Healthcare Corp.; B. Braun Medical Inc.; BD; Boston Scientific Corp.; Cardinal Health, Inc.; Covidien; C.R. Bard, Inc.; Thermo Fisher Scientific Inc.; GE Healthcare; HCA; Johnson & Johnson Health Care Systems Inc.; McKesson Corp.; Medtronic USA, Inc.; Owens & Minor; Premier, Inc.; Siemens; University HealthSystem Consortium; and VHA Inc. For more information, visit www.ghx.com.