Healthcare Strategic Insight, LLC (HSI) Announces the Launch of HSI-Auction, a New Web-based Reverse Auction and e-Procurement Strategy

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Healthcare Strategic Insight, LLC (HSI), the leading provider of innovative implementation strategies for emerging technology to the healthcare industry, announced today the launch of HSI-Auction, its web-based reverse auction tool. Intended for healthcare organizations, it uses the power of the Internet to dramatically lower the price of expensive medical equipment.

Healthcare Strategic Insight, LLC(HSI), the leading provider of innovative implementation strategies for emerging technology to the healthcare industry, today announced today the launch of HSI-Auction, its web-based reverse auction tool. Intended for healthcare organizations, it uses the power of the Internet to dramatically lower the price of expensive medical equipment.

Healthcare leaders are under a tremendous pressure to reduce operating costs to improve the bottom line. Several factors are contributing to this, including lower reimbursements from insurers, increased labor costs, and heightened competition due to patient demand for new technology. The proliferation of high-tech equipment is raising the standard of care for patients, but is also taxing hospitals' capital budget. Based on a Clinical Advisory Board poll, 60% of healthcare executives felt that the strain of new technology on their capital budget is a "pressing concern."

HSI-Auction was designed as a solution to that concern. It is a very powerful reverse auction tool for cutting equipment and supply costs, providing an organization with options and new strategies in their purchasing practice. A reverse auction is an e-Sourcing mechanism that focuses on price. Organizations determine product criteria and suppliers bid against a known best price within a predetermined time frame. This leads to a more open, price oriented process with less labor involvement on the hospital side.

“Hospitals, surgery centers, and private practices should have the opportunity to receive true best market price for capital equipment purchases”, states Mr. Polley, President of HSI. “Our expectations are that hospitals receive 10-25% off the best quoted price for capital equipment such as CT scanners, MRI’s. ultrasound scanners, OR lights and tables, as well as commodities like copiers. Organizations will now have the ability of funding additional growth initiatives through the saings received or allocating those savings back to the bottom line."

Hospitals can be confident that they are receiving the lowest market prices from vendors for their capital equipment purchases when they participate in this reverse auction process with HSI-Auction.

About Healthcare Strategic Insight, LLC

Healthcare Strategic Insight, LLC was founded to assist healthcare organizations create and implement successful, innovative strategies surrounding the early adoption of emerging medical technology and multi-disciplinary integration of technology.

For more information contact info@hsinsight.com or HSI at (630) 705-5545.

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