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The typical annual increase of a library resource is between 7-15%.  There are several products that break that mold and have been known to hike prices higher.  
On average we plan every year on library resources going up between that amount.  We do negotiate multi-year license agreements for certain products to lock in a more favorable annual increase.  We have 2 yr, 3 yr and 5 yr agreements with different companies and different products. Depending on the company, our overall spend with them, number of years in the agreement, and other factors we have been able to lock in products from 0-5% increase each year during the course of the license agreement.  

That is a pretty standard renewal increase for library resources in general, but if you want a better one, you might want to look at negotiating a multi-year agreement that locks in the rate.

Michelle


__________________________________________________________________________
Michelle Kraft, MLS, AHIP
Director, Library Services
Cleveland Clinic Floyd D. Loop Alumni Library
9500 Euclid Ave. NA 30
Cleveland, OH 44195
(216) 445-7338
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orcid.org/0000-0001-8821-4828



-----Original Message-----
From: Medical Libraries Discussion List [mailto:[log in to unmask]] On Behalf Of Oscar Andrade
Sent: Thursday, November 15, 2018 12:12 PM
To: [log in to unmask]
Subject: [EXT] accessmedicine renewal

Good morning, we got a renewal increase of 8%, is that reasonable?

Any logic to this? I think the inflation is 2.2% and then???



Oscar Andrade, MS., MLIS

Librarian, Supervisor of Library Services

Saint James School of Medicine

1-847-375-9130


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