Chicago, IL — OpenMarkets of Chicago, IL has been named one of the winners of the 23rd annual Chicago Innovation Awards.
The winners were announced at this year’s event held on Thursday, November 14th at the UIC Forum. The annual Chicago Innovation Awards is the Chicago region’s foremost recognition of the most innovative new products or services brought to market each year. OpenMarkets was selected for this award for solving the challenges associated with healthcare equipment procurement.
OpenMarkets is a digital platform designed to streamline healthcare equipment and services procurement by providing a centralized, user-friendly workspace. It’s latest solution on the platform, Formulary, allows healthcare organizations to create and manage their custom formulary, based on their approved products and suppliers, ensuring compliance and consistency across purchasing decisions. This offers an efficient way to research, quote, and purchase equipment, while facilitating collaboration across clinical, finance, and supply chain teams. By consolidating supplier communication and eliminating paper-based processes, OpenMarkets Formulary saves time, reduces administrative overhead, and enhances procurement transparency.
“The Chicago region continues to be a global leader in innovation” said Tom Kuczmarski, co-founder with Chicago journalist Dan Miller of the awards. “The 2024 winners are solving unmet needs and making a difference in healthcare, finance, the environment, artificial intelligence, education, consumer products, energy, manufacturing, social services, economic development, food, and government.
“We're excited and honored by the recognition of OpenMarkets, and we're proud of its strong market traction and growth trajectory. It's solving critical labor challenges, streamlining procurement inefficiencies, and delivering new digital access. Innovation is at the heart of everything we do at OpenMarkets, and our new Formulary is a testament to our ongoing commitment to driving transformation in healthcare procurement”, said Trevor Wood, CEO of OpenMarkets.
Leading health systems such as UPMC, Banner Health, and Yale New Haven Health are already using Formulary to get the right information to the right people at the right time.
“350 organizations nominated for this year’s awards,” said Luke Tanen, President and CEO of Chicago Innovation. “As a group, these nominees are responsible for generating over $4.2 billion in new revenues and creating nearly 6,000 jobs. The winners represent the best from this very impressive group.”
Contact: OpenMarkets, info@openmarketshealth.com, 866-447-3270
Chicago Innovation: Luke Tanen, luke@chicagoinnovation.com, 312-988-1516
