Our concept is simple, by banding together medical practices through social commerce, we can achieve much deeper savings for the collective whole, than any individual can achieve on their own.
San Francisco, CA (PRWEB) July 27, 2011
Groundswell Health, Inc., today announced its web based collective purchasing service aiming to help reduce healthcare costs in the U.S. Currently in beta, http://www.groundswellhealth.com is a social commerce platform that delivers deep discounts on the products that healthcare practices purchase every day and makes cost savings accessible to all healthcare businesses and individuals regardless of size and purchasing volume.
With U.S. healthcare costs rising towards 20% of GDP by 2020, the need for cost reductions is one of the biggest challenges facing the country today. “We all know that there are many exciting new Health 2.0 start-ups trying to solve how best to apply the power of social media to improve the health care system,” noted Brett Finkelstein, Groundswell Health founder and CEO. “We are approaching healthcare solutions from a different angle, by adapting successful social media technologies made popular in the consumer world by companies like Groupon®, to benefit healthcare practices and providers in new ways. Doctors and medical practices are in a daily struggle for fiscal survival. Costs are rising outrageously fast while their income is declining. We know that financially healthier medical practices, are able to concentrate on making physically healthier patients, and we can help,” Finkelstein went on to say.
While the concept of group purchasing is not necessarily new to healthcare, this new approach of using social commerce to deliver volume discounts is very promising, particularly for physician practices. According to the Healthcare Industry Group Purchasing Association (HIGPA), 72% of U.S. hospital purchases occur under the umbrella of a Group Purchasing Organization (GPO) contract. "Hospitals purchase large volumes of supplies and are able to hire the full time, professional buyers that are required to micromanage complex contracts in order to achieve meaningful savings. In reality, most healthcare organizations are small businesses, with over 230,000 physician practices spending upwards of $30 billion each year. And these practices find themselves under-served and often unable to realize meaningful savings using traditional approaches,” continues Mr. Finkelstein. “Our concept is simple, by banding together medical practices through social commerce, we can achieve much deeper savings for the collective whole, than any individual can achieve on their own. We make saving money simple. And as our network grows, the potential for other cost saving innovations is tremendous. This is just the beginning.”
About Groundswell Health
Groundswell Health was founded to help improve the business of providing healthcare using social media to achieve cost reduction. Groundswell Health allows healthcare providers to collectively achieve greater savings on the goods and services that they individually spend money on every day. For more information, or to sign up to receive our deals via email visit our website at http://www.groundswellhealth.com.