Schedule 10 minutes with our team to learn how you can join OpenMarkets.

This past week OpenMarkets hosted representatives from several health systems for our annual Advisory Council meeting. This inspiring two-day meeting brought together finance and supply chain customers to better understand how and why they are improving the way healthcare equipment is bought and sold. 

For the OpenMarkets team, this meeting allows us to sit back and do something important: Listen to our Customers. Here’s six key lessons we learned from our Customers:  

1. Supply Chain teams desire more visibility into how clinical teams and suppliers work together.

Department directors play a huge role in deciding what equipment is purchased at a hospital. However, these department directors are trained in clinical and administrative work, not supply chain and negotiation. Members of the OpenMarkets Advisory Council are actively seeking multiple ways to help their department directors save time, save money and make better decisions when buying equipment. 

2. “Too many calls, too many emails.”

The Chief Financial Officer at a Chicago-area health system nailed a common fact for so many of us: “I get too many calls, too many emails (from sales reps). I just don’t have time to read the emails and just swipe right to delete them all.”

Proactive equipment suppliers need a different way to work with healthcare providers. 

3. “We are looking for a better benchmark.” 

Healthcare providers are desperate for great data and lower pricing, and current benchmarking tools aren’t going far enough.  

OpenMarkets CEO Michael Fineberg encouraged members of the Council to think about the financial impact of using OpenMarkets for every equipment purchase. 

“A benchmark simply tells you what other systems were quoted in the past. Getting quotes on OpenMarkets creates live pricing data every time. The true market price is always lower than a benchmark, and likely lower than the price you paid last time. You’ll maximize savings and your time if you come to OpenMarkets for every quote, every time.” 

4. “OpenMarkets is a great portal to introduce our team to suppliers.”

During a session on how to use OpenMarkets to research equipment products and suppliers, a supply chain leader at a Michigan Health System confidently noted how her clinical and administrative teams can use OpenMarkets to find new suppliers. This was a common theme - online research, as opposed trade shows and sales meetings - is the preferred way to learn about new products and suppliers. 

Research medical equipment on OpenMarkets to save time and gain valuable product insight from Tom Derrick on Vimeo.

5. OpenMarkets is a true Community

“I want to learn from other health systems using OpenMarkets. If you’re happy with a supplier, then I’d consider them.”

This quote from the VP of Supply Chain at a Southeastern Health System widely summarized the view point of many members of the OpenMarkets Advisory Council - they trust the referrals and word of each other. This is the foundation of any successful Community. 

6. “OpenMarkets is a one-stop-shop for equipment”

There are several ways for a healthcare provider to use OpenMarkets, including: 

  • Researching products (overview)
  • Capital budgeting & approvals
  • Buying new equipment (video)
  • Buying used equipment
  • Selling existing equipment (video

The notion that OpenMarkets is a “One-stop-shop for equipment” is certainly something we love to hear. It’s inspiring to know healthcare providers increasingly view OpenMarkets as a centerpiece of their supply chain solutions.

To learn more about OpenMarkets or our Advisory Council, reach out to Tom anytime at We’d be happy to put you in touch with any member of the Advisory Council for their perspective on the future of the healthcare supply chain. 

Tom Derrick

Tom leads a range of core functions for OpenMarkets, including strategic partnerships and marketing. Prior to OpenMarkets, Tom served as a senior communications director for... More about Tom Derrick