Avoid needless rework, approvals, paperwork, and back-and-forth with Formulary
+ What Providers Say About Formulary
Formulary Overview
Ready for a digital front door to your equipment procurement process?
Build your unique OpenMarkets Formulary. Research, quote, and buy based on your organization’s approved equipment catalog. Cut down on requests for standards and rep info from clinicians and save time with targeted product searches. Empower your team with easy access to information, eliminating unnecessary scheduling, approvals, and time-consuming rework. Ensure the right information reaches the right people at the right time with Formulary.
Key Capabilities
Avoid needless researching, scheduling, & approvals
Equipment Catalog
Curate your organization’s formulary, to create a catalog of approved equipment purchasing options
Research & Get Quotes
Research equipment and get quotes
with your organization’s unique formulary
Communicate & Collaborate
Communication, coordination, and access to your trusted and approved suppliers
Efficient, Aligned Teams
Free-up supply chain time by limiting inbounds from clinicians asking for standards and rep info
AI Powered ERP Data Entry
Manual data entry is officially obsolete.
Tired of spending hours typing line items from vendor quotes into your ERP? We thought so. OM QuoteFlow is now part of the OpenMarkets platform. Now you can automatically extract every line item from any quote and send it directly to your ERP with a single click. It’s sourcing, simplified.
1.) Save time
2.) Eliminate costly errors,
3.) Free your team for more strategic work
A Unified Approach
Your team searching across only approved and preferred products
With built-in coordination and access with your trusted and approved suppliers, Formulary centralizes communication and quoting to create transparency to the early stages of selection and procurement. If you find your team using multiple platforms to search and get quotes from multiple suppliers, get unified with Formulary.
Focused Digital Supplier Communications
No more paper trail and tedious supplier approvals
Formulary becomes your online connection point to get quotes, message suppliers, and organize current equipment. Free up supply chain time by limiting inbounds from clinicians asking for standards and rep info. Save clinician, administrator, and supply chain managers time with efficient product and sales rep search tools, tailored to your organizational needs and schedule. Direct interaction with your suppliers, in one portal, eliminates the paper trail and allows for efficient communication.
Formulary for Transparency
Aligned and empowered teams with enterprise access to information and pricing
Revamp your capital requisition process with improved equipment, buying and planning. Empower clinicians to support finance, supply chain, managers, and administration efficiently. Enhance transparency in decision-making for capital allocation and planning. Upgrade to the right tool for better results.
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Amplify with OpenMarkets
OpenMarkets addresses a wide range of needs, unlike other processes and systems that only focus on specific ones.
Integrations
Formulary integrates with your existing systems
Testimonials
What providers say about Formulary
“It’s remarkable how much more transparency and visibility we have. The financial impact is beyond our expectations, and everyone is happy with how much waste we have removed from the process—saving us both time and money.”
Join our growing network
Suppliers
+ Add your suppliers to OpenMarkets
Providers
+ Join OpenMarkets
Platform
Products
Insights & Trends in Healthcare
Nobody plans in a spreadsheet by choice
Last month we found out why. We spent close to three hours in a room with the people who run capital equipment at a large IDN, mapping their process from the first sign of a need to the purchase...
Was that a good price?
A buyer at St. Clair Health had a rented T-pump coming off lease and a buyout quote in hand. Before she signed, she sent the quote out for a market check instead of working it herself. It came back...
We turned our clinicians into part-time buyers
A field note on the administrative work that migrated into clinical hands, and how to find it in your own organization I have asked a lot of nurse managers to walk me through how equipment actually...
We’re Ready To Help
OpenMarkets is designed to be scaled to your organizations need. Unsure if you are a good fit? Speak with a team member to learn how we can optimize your procurement process.
How do we start?
OpenMarkets Formulary is available for all providers looking to improve their procurement process. Register and invite your suppliers onto the platform. Suppliers can register at no cost, but upgraded partnership unlocks features to fully leverage the platform.
Are there transaction fees?
OpenMarkets is not a direct marketplace. There are no transactions that happen on our platform. Zero transactional fees are applied to your business on direct sales generated from using our software.
How do I invite my suppliers?
Once you onboard onto our platform, we’ll walk you through the simple processs of inviting and working with your suppliers on OpenMarkets.