Hospitals

Rubicon Global wants to apply technology to $10.5B medical waste disposal industry

It believes that by taking a more sophisticated, data-driven approach to the way hospitals dispose of medical waste, it can reduce costs.

A technology company that uses online auctions to help businesses with garbage hauling needs get a better price through an online bidding process with local garbage haulers and doing more recycling sees an opportunity in the healthcare industry.

In a TechCrunch article, Rubicon Global founder Nate Morris talked about the company’s ambitions with the hire last year of a director of medical sustainability — J Michael Jones. It believes that by taking a more sophisticated, data-driven  approach to the way hospitals dispose of medical waste, it can reduce costs.

The medical waste management industry is expected to rise from its current level of $10.5 billion to $13 billion by 2020, according to a market research report by Markets and Markets. That includes hazardous and non hazardous waste.

Hospitals are under pressure to reduce costs where they can as they face the expenses of shifting from paper-based to digital record systems and penalties for readmission rates deemed higher than average. Supply chain management is one area where hospitals are enlisting the help of technology to keep a tighter hold of supplies and costs.

Photo: Flickr user Shelah

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