OpenMarkets is a platform for healthcare equipment, used by hundreds of hospitals and equipment suppliers to improve how they buy and sell equipment. Healthcare providers use OpenMarkets in many ways, one being data-driven negotiation support. This helps providers and suppliers find the right price at the right time.

Two hospitals, Seattle Children’s Hospital and the University of Rochester School of Medicine, just recently proved this through deals with Siemens and Medivators. These two deals, occurring within minutes of each other, saved the hospitals a combined total of $79,000! 

How & Why This Works
OpenMarkets helps to facilitate simpler collaboration - this is how we cut out wasted time, effort and resources. For the Seattle Children’s project, OpenMarkets brought data to assist the supply chain team and equipment sales representative from Siemens Healthineers reach consensus on the right price for Fluoroscopy equipment. This helped Siemens complete the deal on a timeframe they needed, without getting other suppliers involved, and represented savings for Seattle Children’s of $55,000. 

The University of Rochester School of Medicine, part of the OpenMarkets community since 2018, was seeking similar outcomes on a project for scopes from Medivators. 

With assistance from OpenMarkets, the University of Rochester School of Medicine’s sales representative from Medivators gathered a list of items needed by the department and bundled them into a quote on OpenMarkets. Grouping these requests together added efficiency and saved the hospital $24,000. Another win-win!

Each of these organizations was able to come out ahead by working together on OpenMarkets. It’s inspiring what we can do when working together.