Healthcare Matters

Vendormate, long known as a leader in the healthcare vendor credentialing space has released a new online tool today that connects providers and a wider array of qualified vendors with far greater precision than traditional supply network utilities. The company is calling the new service “Medzo.” For healthcare providers, although Medzo may sound a lot like another searchable supplier network, that “idea” just doesn’t tell the whole story. Likewise, for suppliers seeking more streamlined paths to new business opportunities, Medzo offers them a lot more than a new place to be listed.

Vendormate has built a network that already consists of 70,000 credentialed vendors, 48,000 healthcare users, 600,000 supply chain relationships and 2 million visit events per year. How is the service bigger, better, faster, cheaper, etc., than alternative supplier networks? By already maintaining significant amounts of additional information about buyers and sellers that have been fully credentialed in its other systems and by now keeping track of their promotional interests and investigative activities in a buy/sell context, Medzo can act more proactively to match complementary interests –at the right time.

“Healthcare providers are targeting cost reductions of 20 percent in reaction to the new realities faced by hospitals under the Affordable Care Act. At the same time, medical suppliers report sales and administrative costs of 33 percent on average — significantly higher than other industries. What is needed is a new model that drives relationships across a greater range of products and services, without levying unnecessary transaction charges for merely bringing buyers and sellers together,” said Chris Luoma, Vice President of Business Development at Vendormate. “Medzo is a tool that will improve efficiency and help both healthcare providers and vendors reduce costs and save time, while at the same time improving the quality of the product that reaches patients.”

Medzo is the latest tool from Vendormate that bridges healthcare providers and suppliers, helping both sides know more about who they are doing business with today and who they should do business with tomorrow. The service is designed to bridge the gap between GPOs and standard supplier search utilities.

“Medzo is going to change the healthcare supply chain. We have listened to both buyers and sellers that use Vendormate’s Credential Manager and Contract Manager products. They want something more than what is offered by traditional GPOs. This is a smarter tool that finds the right business partners,” said Andy Monin, Chief Executive Officer at Vendormate. “Medzo is a data-driven tool leveraging the information in the Vendormate credentialing network to create intelligence that connects the right users in the network at the right time. The result is a collaborative sourcing platform that drives smarter purchasing decisions and renders the vendor cold call obsolete.”

By consolidating important business, financial and regulatory information about companies from the Vendormate network and other data sources, Medzo greatly reduces the time required to conduct due diligence. Medzo not only means better results when researching new vendors or potential markets, it will help reduce human resource costs and allow staff to focus more on important core job functions. By eliminating the time wasted from unproductive searches and cold calling, Medzo will reduce purchase cycle length while also delivering better overall solutions for users.

Access to Medzo is free for hospitals, healthcare systems and other medical buyers. All vendor companies participating in the Vendormate Credential Manager credentialing system have a free basic listing in Medzo. An annual subscription to Medzo allows suppliers to unlock the full potential of their Medzo presence by enhancing their profiles with detailed products and services information that will be directly visible to their intended audiences. Vendors can further differentiate themselves by introducing an unlimited number of special promotions and offers exclusively through Medzo to reach more than 48,000 buyers across the United States.

Source: Vendormate

—Tom Finn