IRVING, Texas, Aug. 5, 2015 /PRNewswire/ -- Today, aptitude® announced that $23.2 million in transaction volume was executed in the month of July, a record amount for the industry's first direct contracting market. The online platform, which launched in April 2013, accelerates the healthcare contracting process between hospitals and healthcare suppliers through automation and analytics.
Hospitals have a challenging job given the number and complexity of the contracts they manage, not to mention the constant pressure to identify and execute on new cost reduction opportunities. Likewise, healthcare suppliers continue to seek new approaches to win committed business and reduce their selling costs. Both groups are turning to aptitude to achieve organizational objectives and company goals.
"As our customer base expands and the market matures, we are seeing growth beyond commodities into more complex categories like clinical and physician preference," said aptitude General Manager Troy Kirchenbauer. "While these product areas often contain the most opportunity, our model offers the flexibility required to support decision making in the higher spend categories."
Kirchenbauer continued, "Our aim is to enhance the process by which these decisions are made while allowing both parties to increase their speed to value."
Now established as a complementary approach to local and aggregation contracting, aptitude provides value to both hospitals and suppliers, allowing these organizations to execute agreements 60% faster through the online platform versus their standard contracting process.
"The projected path of continued growth is generated from regional hospital groups and large integrated delivery networks and their ability to generate the volume of opportunity that is attractive to the supplier community," said Kirchenbauer.
About aptitude LLC:
As healthcare's direct contracting market, aptitude LLC is meeting the evolving demands of today's healthcare organizations. Hospitals and suppliers are intrigued by how aptitude re-imagines the contracting model and provides the driving force for a more logical market in which both parties can achieve mutually beneficial, committed purchasing relationships for a better value proposition for both. Today, aptitude hospitals and suppliers have a combined $15 billion in purchasing power and are experiencing an average savings of 10 to 15 percent. For more information, visit aptitude.com and follow us on Twitter @aptitudellc and LinkedIn.
SOURCE aptitude LLC