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medibuy.com Inc.

Division of Ventro Corp.

Latest From medibuy.com Inc.

Reforming Group Purchasing: How Far is Far Enough?

For the past year, hospital purchasing groups have been under a spotlight, as Senate investigators and major media investigate charges that groups have done more harm than good in favoring large product companies. One of two groups at the center of the crisis, Premier, says it is cleaning up its act-and even hired an ethicist to help-but its take on necessary reforms embraces a broad, big-picture view of hospital/GPO relationships. MedAssets is taking more of a back-to-basics approach that stresses flexibility and choice in contracting options while helping members address the escalating costs of physician preferred products. The challenge for GPOs: the pressure to reform comes at a time when competition for hospital customers is fierce, in part because the financial pressure on hospitals has never been greater.
Medical Device Strategy

Medsite: Fighting for Physician's Eyeballs

Medsite has built a steadily growing revenue stream and customer base, primarily through online sales of books and medical supplies. It also leverages those e-commerce offerings to provide pharmaceutical and other product companies with a means of promoting themselves to physicians by using incentives, such as discounted books or supplies. With further growth in mind, the company filed a $100 million IPO earlier this year--only to withdraw it a few months later when the bottom fell out of the e-health public markets. Facing a suddenly hostile financing environment, Medsite's management re-engineered their business plan, with the goal of accelerating the company's drive to profitability by emphasizing the higher-margin end of its business that derives income from promotional deals with product companies. A key element of this effort is an ambitious package of customizable Internet tools for physician practices that is intended to bring in lucrative sponsorship contracts from product companies. In entering this arena, Medsite will find itself up against some major players with significantly greater resources. And to fund their ambitious new initiative, Medsite will have to convince a wary investment community that, in an industry apparently headed for domination by a few billion-dollar companies, they will be one of the survivors. But Medsite's management expresses confidence that its higher-profile competition has yet to make any deep inroads into the physician market, which they argue remains quite open. The task now is to persuade investors, product companies, and physicians that they can succeed---where others have largely failed--in getting doctors to make the Internet an integral part of their practices.
Business Strategies Business Strategies

MDISource.com

MDISource.com is trying to solve the supply/service related challenges medical device firms face through a proprietary software solution that enables device companies to more efficiently manage procurement of critical services and supplies and link that with their core ERP systems. Mir Imran, one of the leading device developers in the San Francisco Bay area, founded the new company.
Medical Device Business Strategies

The Global Exchange States Its Case

Global Exchange was set up last winter by five of the largest med-surg companies to make sure they had a role in shaping the future of e-commerce and hospitals. For several months it was reticent but now its new general manager is explaining its mission to provide a single centralized portal for e-procurement to hospitals and integrated delivery systems that results in greater efficiency and savings for hospitals. A major reason for its formation was the concern that established, private-investor-led dot.coms, such as Medibuy and Neoforma.com, were trying to squeeze manufacturers. But the Global Exchange raised concerns among the very manufacturers it was set up to protect--for example, how it would handle competitors and whether each member get the same terms as the others. The exchange has five founding partners, but it is open to all, and all suppliers pay a subscription fee, based on the volume of business they do through the exchange. So far, 40 hospitals have signed up to use the system, which will go on line this fall and the system offers more than 60% of all med-surg supplies on the market. While dot.coms have taken a beating in the stock market in recent months, the Global Health Exchange says it isn't beholden to Wall Street because it has no plans to go public. It is in this business for the long-term, despite the ups and downs of competitors.
Medical Device Strategy
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