Navigation Links
Healthcare's First Direct Contracting Market Launches Today; Will Offer Mutually Beneficial Approach for Hospitals and Suppliers
Date:4/22/2013

IRVING, Texas, April 22, 2013 /PRNewswire/ -- Today aptitude announced the launch of the healthcare industry's first online direct contracting market, a one-stop destination designed to complement a hospital's existing contracting model or provide an alternative for those looking to modernize the business of healthcare. Offering a balanced value proposition, this unique approach is open to any hospital or healthcare supplier in the country.

(Logo:  http://photos.prnewswire.com/prnh/20130422/NY98454LOGO)  

"This is a day we've been anticipating for some time now," said Troy Kirchenbauer , general manager of aptitude. "We're excited and proud to introduce an online direct contracting market designed to drive innovation in the healthcare supply chain."

The concept of an online market for hospitals and suppliers was created and proven successful in a pilot program entailing detailed research, prototype reviews, and close collaboration with a select group of hospitals and suppliers. Pilot program participants considered aptitude to be a true innovation, functioning in the real world just as it had been envisioned.  In market testing, direct contracts awarded through aptitude were executed with market-leading savings in an average of 33 days.

"Our desire is to challenge the status quo by creating a more logical and empowered contracting market," Kirchenbauer continued. "By doing so, we feel that both hospitals and suppliers will benefit from this new streamlined approach." 

While self/local contracting is more prevalent in certain product categories than in others, approximately one third of the supply chain business is directly negotiated between hospitals and suppliers. While this activity is estimated to represent approximately $55 billion in spending, recent market analysis suggests this trend increasing. However, the self/local contracting model itself remains imperfect.  Hospitals and suppliers experience inefficiencies and redundancies, and may not have adequate access to data or to the tools necessary to make the best decisions. 

Despite efforts to change, including the increased use of technology, the industry has not made significant progress in improving the self/local contracting process.  The founders of aptitude believed that there had to be an innovative approach that combines the flexibility of direct contracting with the advantages of the time-tested national model. 

"Today, aptitude is being introduced as a contracting alternative; one that complements existing models," Mr. Kirchenbauer said. "Our early adopters --both on the supplier and the hospital side -- have been pleased with initial results. And while these organizations stand to benefit from this new approach, we feel that aptitude has the potential to lower the overall cost of providing care in our industry."

The aptitude philosophy is not a one-sided approach, nor is it an RFP generator or a reverse auction tool.  As the industry's first online contracting market, it facilitates the entire contracting process and life cycle while providing insight and value to both hospitals and suppliers. By January, 2014, aptitude expects participation from over 75 healthcare organizations and 80 product categories available for direct contracting. 

About aptitude:
As the healthcare's industry's first online direct contracting market, aptitude LLC was developed to meet the evolving demands of today's healthcare organizations. Hospitals and suppliers are intrigued by how aptitude re-imagines the local contracting model and provides the driving force for a more logical market in which hospitals and suppliers can achieve mutually beneficial, committed purchasing relationships for a better value proposition for both.  

Connect with aptitude:

LinkedIn 
Twitter or @aptitudeLLC
YouTube or aptitudeLLC


'/>"/>
SOURCE aptitude
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Cell Therapeutics, Inc. (CTI) to Report First Quarter Financial Results on April 20
2. Thoratec Schedules First Quarter Conference Call, Webcast
3. Watson to Host Conference Call and Webcast to Discuss First Quarter 2012 Earnings
4. CVS Caremark Corporation to Hold First Quarter 2012 Conference Call
5. Savient Pharmaceuticals to Hold First Quarter 2012 Financial Results Conference Call on Wednesday, May 9, 2012
6. Alexza to Announce 2012 First Quarter Financial Results on Thursday, May 10, 2012
7. 3SBio Inc. Schedules Unaudited First Quarter 2012 Results
8. Insmed to Host 2012 First Quarter Earnings Conference Call
9. Simcere Pharmaceutical Group to Announce First Quarter 2012 Financial Results on Wednesday, May 9, 2012
10. Henry Schein to Webcast First Quarter 2012 Conference Call Tuesday, May 8, at 10:00 a.m. EDT
11. Novelos Therapeutics Announces Successful Completion of First Cohort In Lung Cancer Trial With I-124-CLR1404 (LIGHT) Cancer-Targeted PET Imaging Agent at UW Carbone Cancer Center
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/12/2017)... 2017   Divoti USA will engrave and ... standard of the latest FDA requirements, which stipulates new criteria regarding ... in need of Medical ID jewelry such as Medical ID Bracelets, ... engraved in terms of the new FDA requirements . ... Divoti offers this dark mark fiber ...
(Date:10/11/2017)... Oct. 11, 2017  Hill-Rom Holdings, Inc. ("Hill-Rom") (NYSE: ... facility in Las Piedras, Puerto Rico ... blades. Following ... facility sustained minor structural damage, temporary loss of power ... have been completed, manufacturing operations have resumed, and the ...
(Date:10/4/2017)... South Korea , Oct. 4, 2017  South ... its next-generation CPR training aide "cprCUBE" on Kickstarter. The ... chest compression during cardiac arrests with better efficiency compared ... It also offers real-time feedback on efficacy of the ... The crowdfunding campaign has a goal to raise $5,000. ...
Breaking Medicine Technology:
(Date:10/12/2017)... ... October 12, 2017 , ... IsoComforter, Inc. ( https://isocomforter.com ... the introduction of an innovative new design of the shoulder pad. The shoulder ... maximum comfort while controlling your pain while using cold therapy. By utilizing ice and ...
(Date:10/12/2017)... Maryland (PRWEB) , ... October 12, 2017 , ... ... magnetic drug delivery system that we intend to develop to enable prevention of ... can lead to severe hearing loss, especially in pediatric patients. For cisplatin, hearing ...
(Date:10/12/2017)... ... ... Leading pediatric oncology experts at Children’s National Health System will join ... International Society of Paediatric Oncology (SIOP) Oct. 12-15. Chaired by Jeffrey Dome, ... at Children’s National, and Stephen P. Hunger, M.D., Chief of the Division of ...
(Date:10/12/2017)... ... October 12, 2017 , ... Health Literacy Innovations (HLI), ... software tool, and the Cancer Patient Education Network (CPEN), an independent professional organization ... a new strategic alliance. , As CPEN’s strategic partner, HLI will help ...
(Date:10/12/2017)... ... October 12, 2017 , ... Farm Forward ... Berkeley, and other leading institutions in announcing the launch of the Leadership ... the way animals are raised for food. , Founding members of the Leadership ...
Breaking Medicine News(10 mins):