New Flexible Contracting Options Deliver Additional Value to Healthcare Supply Chain
Providers and suppliers leveraging additional resources, including data and technology to amplify self-contracting efforts through aptitude LLC
Apr 26, 2017, 08:30 ET
IRVING, Texas, April 26, 2017 /PRNewswire/ -- The healthcare supply chain continues to be a driver of cost reduction initiatives for both providers and suppliers. And while flexibility has always been an essential element in establishing strategic partnerships, aptitude LLC has introduced capabilities that allow both parties to create and execute custom agreements faster, which helps accelerate speed to value.
Now healthcare organizations can approach their self-contracting strategy by product category, healthcare supplier, or subcategory – resulting in complete customization. This delivers extraordinary value by allowing providers and suppliers the opportunity to streamline the process and tailor options to align value.
"Working closely with so many of the industry's leading healthcare providers and suppliers, we understand that each organization is unique," said Troy Kirchenbauer, GM for aptitude. "We strive to create solutions that leverage data, technology and expert insight to accelerate strategic supply chain partnerships. Adding an element of flexibility is just one more way we are making that happen."
Over the past 4 years, aptitude has delivered value to both providers and suppliers by providing a detailed assessment of current purchasing dynamics and an efficient way to forecast the value of a new or improved relationship. Both parties have seen improvements in the way contracts are created, executed and managed. The online platform is expected to exceed $1B in annual contract volume this year with continued growth of over 100% year over year.
"This industry is dynamic and ever-changing," said Trevor Bober, Director of Supply Chain Operations at Kootenai Health, Coeur d'Alene, Idaho. "We have a relatively small team and rely on different platforms to get access to information and make decisions faster - aptitude has become our go-to resource for clean, actionable data."
The latest release is an example of the commitment the aptitude team shows to partnering with providers and suppliers on how to best meet their needs. Working closely with customers helps the team to refine and evolve aptitude to be an invaluable resource to the supply chain by developing and delivering innovative solutions.
"It's a continuous learning environment, which is an approach we established early on," said Justin Hibbs, Vice President of Business Development and Marketing. "We teach customers how to use what we've built and in turn, we learn from them how they are managing their supply chain. This spawns new ideas and thinking, which we are then able to incorporate into our solution and share with others in the industry."
Other major enhancements that have been launched over the past four years:
- Aggregation functionality
- Seller Initiated Offer (SIO)
- UMCSC Reveal data sharing services
"Since launching in 2013, our team has worked tirelessly to develop industry leading solutions that evolve with the needs of our customers," said Lincoln Fellingham, Senior Director of Technology. "We have delivered hundreds of new features and ongoing enrichment to the existing platform. We are extremely proud of each launch, however flexible contracting is definitely the most highly anticipated feature based on customer feedback."
With each enhancement aptitude drives adoption and builds support in the industry for their market approach. And as they once again find themselves in first-mover territory with their new flexible custom contracting model, aptitude continues to deliver on their mission to reduce the cost of healthcare.
About aptitude:
Launched as a contracting market in 2013, aptitude reduces the cost of healthcare and accelerates strategic supply chain partnerships by allowing providers and suppliers to identify opportunities, streamline execution and improve performance. The company supports self-contracting activity between hospitals and suppliers and is expected to exceed $1B in total contract volume in 2017. Today, hospitals and suppliers are accelerating their speed to value by creating and executing agreements in about 45 days.
Please visit www.aptitude.com as well as our newsroom, Twitter, LinkedIn and YouTube pages for more information about the company.
SOURCE aptitude LLC