First Online Contracting Market Has $10B in Purchasing Power in First Year

One year after the launch of Irving, Texas-based aptitude's online contracting market, the first of its kind in the healthcare industry, the company is reporting a combined purchasing power of more than $10 billion.

Aptitude saw nothing but growth in its first operating year. The original 10 users of the online market grew to over 600 users. Hospitals are reporting an average of 10 to 15 percent savings on contract pricing agreements, and direct deals with suppliers are finalized in an average of 38 days, according to the company.

"By bringing the process online, hospitals now have a very easy way to control their costs and increase their access to a wider range of products," said Troy Kirchenbauer, general manager of aptitude, in a news release. "And by offering supply companies a fast and easy way to market their products to hospitals, we bring value and innovation to both buyers and sellers in the healthcare supply chain."

More Articles on Supply Chain Contracts:

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To Buy or Not to Buy? Purchasing Decisions in the Clinical Lab

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