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Resource Optimization & Innovation (ROi) and OpenMarkets have agreed to a multi-year partnership to support the capital equipment strategy for ROi member health systems.
With this partnership, ROi’s capital and medical technology team will work with OpenMarkets to create a seamless solution to produce new data and transparency to each ROi member’s capital equipment needs. ROi members will have access to the OpenMarkets platform to work with proprietary data on suppliers, products, contracts, standards and trends.
“We’re thrilled to now have OpenMarkets as a core part of our value proposition to members,” says Joshua Sandler, Vice President, Group Purchasing, ROi. “This partnership provides a solution that helps create transparency for all key parties. Members will have far better information on what their clinical directors are seeking, the ROi team will gain a group-wide perspective, and the supplier community will benefit by our improved ability to use data in our work together. We’ll ultimately be able to guide the right suppliers to the right capital opportunities in a cost-effective way, lower the cost-of-sale and lower the cost-of-acquisition for our members. This is a win for all involved.”
“This is the future of proactive capital planning and equipment sourcing strategy,” says Carrie Bell, Executive Director of Capital and Medical Technology, ROi. “ROi is creating a smart, progressive strategy to work with our members on their equipment needs. OpenMarkets is the right vehicle to bring this transparency from the members to our team. We’ll be armed with rich data and insight into member needs and supplier options. This strategy is going to lower costs for members and make it easier for suppliers to engage with ROi.”
The OpenMarkets platform will be used by the ROi team and members to research equipment suppliers and products, submit quote requests, formulate capital justifications and collaborate. The collaboration features include both internal and external tools, the latter facilitating seamless communication with equipment suppliers. ROi members will be able to push out information to equipment suppliers in an easy way, letting them know when the time is right to discuss upcoming needs.
“We’re humbled and thrilled to work with ROi,” says Michael Fineberg, CEO of OpenMarkets. “We’re excited to create the data to drive ROi’s innovative approach to capital and equipment procurement. We look forward to helping ROi members spend their money smarter. Further, we look forward to helping progressive suppliers understand how they can do work with ROi.”
The nearly 250 hospitals members of ROi join over 600 hospitals using OpenMarkets today. This combined community is supported by over 100 equipment suppliers, each committed to creating a more efficient way to buy and sell products.
Suppliers do not have to be on contract with ROi to be a part of OpenMarkets. However, equipment products not featured on OpenMarkets will be at a disadvantage in future opportunities with ROi members as they won’t be seen as easily in the platform.
“Being in OpenMarkets makes it easier for any hospital to know about a particular supplier’s products,” says Fineberg. “You can find any equipment product in the market in the platform. But only the Active Suppliers have robust product information, pretty pictures and rich content. The hospitals want this information in the platform. This lets them buy quicker and easier.”
ROi members will begin using OpenMarkets immediately.
About Resource Optimization & Innovation (ROi)
Based in St. Louis, Missouri, ROi believes in the power of provider collaboration to transform health care. A recognized leader in supply chain management, ROi serves health care organizations across the United States that share a passion for supply chain excellence. As a provider-owned supply chain organization, ROi delivers a range of cost management and supply chain services, focusing on all aspects of supply chain from planning through fulfillment and consumption to ensure the highest quality of care is delivered in the most cost effective manner. For more information, visit: www.roiscs.com.
Founded in 2011, OpenMarkets is a software-driven marketplace for healthcare equipment. Over 650 hospitals use OpenMarkets to improve how they manage capital spend, research products and collaborate with suppliers to buy equipment. For more information, visit: www.openmarketshealth.com.