To obtain the most economic advantageous tenders (MEAT), the EU public procurement directive and transposition in national legislation recommend/mandate to apply the best price/cost-quality ratio approach. This requires a good understanding of the cost and expenditure in health care.
While the price of the purchased good is an element, in order to obtain the cost in health care, it is critical to consider other element such as the total cost of ownership (including disposables, cost of waste management, …). It is even more critical to take into consideration health economics cost of care impacted by the product as provided services when used into practice and the economic value (including cost avoidance and societal economic benefit). These will all be determinants to reach the economic most advantageous solution and support the building out of the business case to define the (financial-economic) value of purchased good, service and/or innovative solutions.