Medical consumables such as gloves, protective masks and, for example, medical implants can in future be purchased by hospitals and clinics via a new platform from the start-up Xmed iQ, without incurring commissions for handling the purchases in the clinic sector. The start-up can purchase medical products safely, quickly and cheaply on a European level.
The young company’s new platform for hospitals operates across Europe and uses Artificial Intelligence (AI) on one of the largest independent, non-medical industry funded, digital purchasing marketplaces for hospitals; similar to Amazon for individuals, but to enable financial benefits for hospitals. Many public hospital operators will not be able to avoid the platform at all, because 70 to 80 percent work with commercial purchasing associations that organize the purchase of medical products but take a lot of money.
Germany, as the largest European submarket, has an almost paradoxical purchasing situation, because prices are dependent on purchasing volumes. Here, however, the more medical devices a hospital consumes and buys, the higher the costs the hospital produces, because commercial purchasing groups such as Sana, Prospitalia or Clinic Partner receive ever higher commission revenues from the medical industry through percentage-based cost coupling.
Xmed iQ, on the other hand, operates completely independently and offers hospitals financial advantages via the platform because the company does not operate on a national level but on a European level and always offers the lowest price via EU-compliant tenders. Accordingly, the start-up purchases medical devices at very low prices throughout Europe, so that the prices can be passed on to hospitals that order on the platform. All transactions are therefore bundled and fully digitized in the interest of the inpatient facilities, from the tender to the actual trade to the accounting.