Medzo Connects Buyers And Credentialed Suppliers In The Largest Healthcare Network
ATLANTA, Oct. 15, 2012 /PRNewswire/ — A new online tool released today connects users at healthcare organizations with a wider array of qualified vendors. Medzo will improve the healthcare supply chain by saving time and money, enhancing performance and efficiency for both buyers and sellers.
Medzo is a new sophisticated online service created by Vendormate that delivers a deep pool of credentialed suppliers so that healthcare buyers can quickly research and find the best vendors. For companies that sell goods and services to the healthcare industry, Medzo creates an opportunity to open new markets and expand relationships with existing customers.
Vendormate is uniquely positioned in the healthcare supply chain with 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. Now these vendors and healthcare users can connect like never before for everything from janitorial supplies and catering services to emergency room equipment and IT services. Medzo facilitates new relationships that benefit both vendors and healthcare users, while also helping these users to maximize value from existing relationships.
“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 being released by Vendormate, an Atlanta, Ga., company that has built a solid reputation handling the critical task of credentialing vendors that do business with healthcare facilities. 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 typical healthcare group purchasing organization may have 2,000-3,000 suppliers, while standard search engine queries deliver millions of results for companies that may not be qualified to sell products to hospitals, surgical centers and physician practices. Medzo is designed to fill the gap between these two extremes and takes the emphasis off searching and places it on finding the right business partners.
“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. More information is available at www.medzo.com.
Medzo is a sophisticated online resource that is focused on the healthcare industry, allowing buyers and sellers to create successful partnerships. By combining a database of more than 70,000 credentialed vendors and 48,000 healthcare providers with other critical data, Medzo is a powerful tool that creates a new level of collaboration, generates greater efficiency, opens new markets and uncovers better supply chain solutions. www.medzo.com
Founded in 2005, Vendormate bridges healthcare providers and suppliers to ensure both sides know more about who they are doing business with today and who they should do business with tomorrow. Vendormate’s relationship with healthcare facilities and vendors across the U.S. creates a vast vendor information network that integrates with all Vendormate services. Vendormate’s Credential Manager is recognized as the leading credentialing service in the healthcare industry and Vendormate Contract Manager is a software-as-a-service (SaaS) application that gives healthcare buyers increased transparency and control over their essential vendor relationships. www.vendormate.com