Definition, Meaning & Synonyms
gpo
noun
/ˈdʒiːˈpiːˈoʊ/
Definition
GPO stands for Group Purchasing Organization, which is an entity that helps healthcare providers, such as hospitals and nursing homes, to save costs by aggregating their purchasing power and negotiating discounts with suppliers.
Examples
- The hospital joined a GPO to significantly reduce its expenses on medical supplies.
- By collaborating through a GPO, clinics can get access to higher quality products at lower prices.
Meaning
A GPO enables its members to leverage collective buying power for better pricing on medical supplies, equipment, and services.
Synonyms
- Group buying
- Collective purchasing
- Purchasing cooperative
