Even though hospitals typically use some kind of group purchasing model to save money on their supplies, the startup aptitude thinks there’s still untapped opportunity to eliminate inefficiencies in hospital supply chains.
The Irving, Texas-based technology startup was actually spun out of the GPO Novation and is meant to complement a hospital’s existing contracting model. It does that with an online marketplace that facilitates direct contracting between suppliers and hospitals.
Aptitude says about one-third of the supply chain business is negotiated directly between hospitals and suppliers. The company’s platform takes that entire process online, facilitating the buying and selling of products, negotiating of prices and tracking of purchasing commitments for everything from gloves to surgical equipment.
In pilot tests of the platform, direct contracts were executed in an average of 33 days and with additional savings, the company says. It’s now launched and is used by about 30 hospitals and 20 suppliers.
The CONVERGE camera crew caught up with senior director of marketing and research Justin Hibbs at the startup showcase in Philadelphia this week. See the interview above.