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Freight charges can account for up to 4% of the average cost for any capital equipment purchase. Across the $30 billion spent by U.S. healthcare providers on medical equipment each year, that expense is significant. The industry spends about $1.44 billion annually to ship things like MRIs, ultrasounds, and stretchers from suppliers to providers.

Is there a better way? Join the latest broadcast in the ongoing OpenMarkets education series for supply chain leaders on Thursday, October 19 at noon EST for a discussion of that very question.

The free broadcast will feature Matt Wood, Manager of Supply Chain Solutions Developed by Mayo Clinic (SCS), talking with OpenMarkets Co-Founder and Senior Vice President Tom Derrick. Wood will share the new and innovative approach he and his team are taking to freight and logistics, while exploring the topic “Negotiating Freight for Capital Equipment Purchases.”“Matt and his team are successfully deploying several key strategies to ensure they’re in a position to minimize shipping costs,” says Derrick. “We’ll hear how they’re working with SCS clients to address the challenge, and learn more about how Mayo Clinic approaches freight costs relating to capital purchases. And, we’ll dive into some eye-opening trends and statistics on equipment shipping.”

Before joining Mayo Clinic in 2012, Matt Wood spent 16 years in transportation, logistics and airline cargo management. Because he began his career outside the healthcare industry, Matt brings a complete picture and perspective of the freight/transportation industry to his work for Mayo Clinic. Since transitioning to a self-managed inbound freight program in 2008, Mayo Clinic has saved millions of dollars by taking control of their freight spend. Wood works with various departments within the enterprise as a subject matter expert on


 and manages the relationships with Mayo Clinic transportation providers. Since late 2012 he also has managed SCS, a very forward-thinking freight management program, leading a freight program team and working with other healthcare organizations across the country to help reduce freight spend and bring needed visibility and analytics to expense challenges. To view a recording of this insightful supply chain broadcast, click here.




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