NASHVILLE, Tenn.--(BUSINESS WIRE)--Lucro, a digital platform helping healthcare organizations make better purchasing decisions, today announced the general availability of its solution. Lucro was founded to help healthcare organizations quickly and easily find, compare and choose the right vendor partners—ultimately accelerating purchasing decisions that advance their top initiatives.
With many competing priorities, provider organizations need a way to efficiently sort and assess potential vendor partners to find the best fit for their unique situation. Manual processes and fragmented information become ineffective as healthcare organizations consolidate, reimbursements decline, regulatory concerns take up more resources and more suppliers enter the market. Despite this strain, provider innovators need to constantly consider new solutions.
“With 25 percent of health systems’ purchased services spend turning over every year, this amounts to $22 billion in decisions. This large spend showcases the need for a more focused healthcare buying cycle,” said Bruce Brandes, founder and chief executive officer of Lucro. “Over a dozen major health systems across the country are now using Lucro’s new method of engagement with the vendor community, sharing their prioritized projects for which they seek innovative solutions.”
Backed by Martin Ventures, Heritage Group and HCA, Lucro helps healthcare organizations accelerate and make these complex choices. Built by leaders at healthcare organizations and based on the hospital buying cycle–with guidance from prominent healthcare institutions across the country—Lucro gives providers a way to bring together internal stakeholders, identify organizational priorities and make vendor partnership decisions faster via boards promoting engagement between providers and vendors.
“Lucro allows healthcare organizations to coordinate and accelerate decisions on their most pressing initiatives,” said Molly Coye, MD, MPH, social entrepreneur at Residence, Network for Excellence in Healthcare Innovation and former Chief Innovation Officer at UCLA. “The platform helps healthcare leaders partner with the right suppliers to improve care, manage risk and lower cost—three things that are essential to the long-term success of the healthcare system.”
Healthcare organizations can start creating free boards around their key initiatives and vendors can view these boards and submit solution cards relevant to those decisions. To learn more, visit and sign up at www.lucro.com.
Lucro is a digital platform helping healthcare organizations make better purchasing decisions. Created with input from innovators at the nation’s leading health systems and a deep understanding of the healthcare buying cycle, Lucro exists to support providers by giving them the tools to evaluate and choose their best vendor partners. Accelerate your decisions with Lucro. Visit www.lucro.com.