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

The average hospital spends over $10M a year on equipment. For many of us, we associate this spend with big ticket imaging and surgical products like C-Arms, positioning tables and surgical lights.  

But over half of the dollars spent annually on equipment are for routine patient care and commoditized products. This includes things like beds & stretchers, hospital grade TV’s, cartsfurniture.

Let’s take a look at one area of routine equipment where the OpenMarkets Supplier Community is particularly strong: Refrigeration.

From a broad perspective, hospitals use OpenMarkets for transactions from two types of refrigeration: Lab & Food Service. Here are the suppliers of these types of refrigeration equipment:

The Lab Refrigeration space is crowded, with several niche suppliers making up over 50% of the marketshare. VWR, an Active Supplier in the OpenMarkets Community, is the leading distributor in this area.

Hendrick Health System in Abilene, TX just teamed up with VWR on OpenMarkets this week to buy an ultra-low temp chest freezer. The Lab Director at the hospital simply empowered the supply chain team to find the best value for their needs. Hendrick’s team then turned turned to OpenMarkets in late March and received multiple competitive quotes fitting their needs later that month. 

The result? An efficient win-win transaction for Hendrick & VWRThere’s quite a bit of competition with the world of Food Service equipment too. We have a tremendous amount of data on purchasing Food Service refrigerators and freezers.

All of this data points to one fact: embracing competition will bring your costs down by 11-22%.

The discount spread is relatively geographical, as local dealers and distributors offer different pricing for gelato machines, large commercial refrigeration units and everything in between. So as you and your team think through the best practice strategy to get the right food service equipment, be sure to think outside of the local dealer and distributor. 

Using The Exchange to meet new suppliers will not only establish a BATNA for you, it will make it easy to buy the right equipment at the right price.