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)... Oct. 12, 2017 West Pharmaceutical Services, ... solutions for injectable drug administration, today announced that it ... opens on Thursday, October 26, 2017, and will follow ... business expectations at 9:00 a.m. Eastern Time. To participate ... (International). The conference ID is 94093362. ...
(Date:10/10/2017)... 2017  NDS received FDA 510(k) clearance in May 2017 for ... stand specifically designed for endoscopy environments. An innovative secondary monitor solution, ... solution to support the improvement of patient outcomes, procedural efficiency, and ... ... ...
(Date:10/4/2017)... 2017  According to the Centers for Disease Control and Prevention (CDC), ... PhysicianOne Urgent Care is helping communities across Massachusetts , ... by offering no-cost* flu shots through the end of the month. ... insurance regulations. ... get a flu shot is by the end of October, according to ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... ProVest ... the greater Dallas, Miami, and Raleigh regions, is organizing an extended charity drive ... rare and deadly chromosome abnormality. , After struggling since birth with several health ...
(Date:10/13/2017)... IL (PRWEB) , ... October 13, 2017 , ... ... which established the certification process to promote standards of excellence for the field ... Symposium, scheduled for March 22 – 25, 2018 in Orlando, Florida at the ...
(Date:10/13/2017)... ... October 13, 2017 , ... Many families have long-term insurance ... care insurance companies have a waiver for care if the client has a cognitive ... the family pays for care, is often waived, so the benefits from their insurance ...
(Date:10/13/2017)... ... ... Talented host, actor Rob Lowe, is introducing a segment ... of "Success Files," which is an award-winning educational program broadcasted on PBS Member ... with passion and integrity. , Sciatica occurs when the sciatic nerve in the ...
(Date:10/12/2017)... ... October 12, 2017 , ... CitiDent ... sleep apnea using cutting-edge Oventus O2Vent technology. As many as 18 million ... by frequent cessation in breathing. Oral appliances can offer significant relief to about ...
Breaking Medicine News(10 mins):