2021: China's first national VBP for artificial joints reduced average prices and saved 32.89 billion yuan over 2 years.

China's first national centralized volume-based procurement (VBP) for artificial joints in 2021 lowered average prices, dropping hip joints from 35,000 to 7,000 yuan and knee joints from 32,000 to 5,000 yuan. Over two years, 1.1 million sets were procured at negotiated prices, saving over 32.89 billion yuan. VBP optimized competition among manufacturers, improved medical institution structures, and increased R&D investment in China's medical industry.

May 23, 2024
3 Articles

Further Reading