A cost efficient, transparent and affordable digital procurement marketplace that allows MedTech industry and Hospitals to accelerate everyday processes

Project Information

hystrix

Grant agreement ID: 868755

DOI

10.3030/868755

Project closed

EC signature date 29 April 2019

Start date 1 May 2019

End date 30 September 2019

Funded under

• INDUSTRIAL LEADERSHIP - Innovation In SMEs

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

HYSTRIX MEDICAL AG
Switzerland

Periodic Reporting for period 1 - hystrix (A cost efficient, transparent and affordable digital procurement marketplace that allows MedTech industry and Hospitals to accelerate everyday processes)

Reporting period: 2019-05-01 to 2019-09-30

Summary of the context and overall objectives of the project

Across Europe and the globe, there is unprecedented financial pressure on healthcare players and providers, which, in turn, makes the European MedTech landscape increasingly challenging. The procurement of medical products, equipment and technologies in the health system is complicated by suboptimal, duplicated or repetitive processes which increase costs and delays for all stakeholders. There is need for a B2B sales channel that offers transparent, fair and cost-effective process for MedTech suppliers as well as easier price/product comparisons and significantly lower transaction costs for hospitals.
The hystrix medical marketplace is the first digital marketplace for medical products that extends beyond pure tendering support to provide Healthcare providers (HCPs) and MedTech suppliers alike with an accelerated procurement experience, access to transact at market prices, smart contracting between counterparties, automated approval processing, and the opportunity to significantly redeploy FTE time and cost to more value additive tasks.
The objectives of the hystrix project are focused on defining the technological, commercial and financial tasks to improve the marketplace’s performance from a technical perspective as well as ensuring that the marketplace meets the basic requirements for easy uptake in Europe.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

During the Feasibility Study, initial consultations were made with HCPs and Medtech Suppliers in Netherlands to determine further market needs beyond Switzerland. As well as a detailed description of the next steps to follow to bring the innovation to commercialisation, such as: identification of activities and upgrades required to reach TRL9, work packages and budget preparation, definition of the full supply chain, definition of the business model and commercialisation strategy, risks and market analysis was made.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

eAuction Platforms and supplier online shops are considered state-of-the-art in this category. Whilst these platforms address the more immediate pricing indication question, they do not provide a holistic solution that answers the need for efficiency, convenience and immediate price transparency. hystrix offers an online digital marketplace and hub of market information for the healthcare industry, offering unprecedented time and cost efficiency realisation for HCPs and suppliers alike by adding speed, convenience and transparency. The platform drastically cuts the contracting process from months to minutes as well as reduces combined costs by up to 50%.

Hystrix Medical Marketplace’s process acceleration