Don’t let the name fool you. While medical replacement parts are at the core of their business, the Cleveland, Ohio-based company has reinvented clinical parts procurement with intelligent, innovative technology and workflow solutions.
PartsSource: Proven and Patented Supplier Performance
PartsSource services clinical engineering, facilities management, purchasing and supply chain within acute and post-acute facilities in addition to Independent Service Organizations (ISOs), MedTech Original Equipment Manufacturers (OEMs) and after-market suppliers.
PartsSource is also a market leader in health care product and service eCommerce software through its in-house built and operated online marketplace for medical device maintenance and repair parts – The PartsSource Catalog.
Company Evolution
Founded in 2001, PartsSource is the leading provider of replacement parts solutions for health care. Throughout the past 14 years, the company has over 200 employees and is responsible for several groundbreaking industry firsts. These innovations include a patented suite of technology solutions featuring an algorithm-driven procurement engine and supplier-ranking model, a medical parts marketplace offering one-stop shopping for over 3.5 million replacement parts and a mobile application providing portable access to the marketplace.
PartsSource empowers its customers to drive costs out of the health care delivery system while improving outcomes. In addition to automating the highly complex workflow associated with procurement, the company delivers the industry’s only online, fully integrated parts procurement marketplace. PartsSource facilitates more than 300,000 transactions annually by connecting thousands of suppliers and OEMs to over 3,300 acute care facilities and another 2,400-plus non-acute facilities worldwide.
A New Way to Leverage PartsSource – Fully Managed Service Model
PartsSource takes a customer-first approach by tailoring their offering based on needs. Some customers use PartsSource ‘bundling’- mixing and matching purchases from multiple modalities and services. For providers who would like to realize even greater cost savings, seamless systems interface, the power of PartsSource’s wealth of industry data and more, the company has implemented a fully-managed service model. This comprehensive, managed procurement program incorporates technology and expertise to create a seamless work environment for clinical engineering and facilities management while delivering the best price, advanced data analytics and a customizable catalog.
Technology
The company is a leader in technology serving thousands of customers efficiently in a continually shifting marketplace that is constantly impacted by new innovations which alter the process of acquiring products.
PartsSource’s online marketplace has more than 3.5 million products for users to search, buy and track all purchase activity with an integrated mobile solution compatible with iOS and Android. Customers can use the company’s patented, algorithm-driven procurement engine to optimize product quality and cost savings, ranking each supplier per transaction.
Also, the company offers best-practice enabled software workflows to drive a reliable and reproducible process and assist with efficient hospital operations.
Supplier Performance
PartsSource strives to meet the customer’s expectations each and every time. The company’s proven model for top-quality supplier performance is backed by case studies, including those performed at Cleveland Clinic, Thomas Jefferson University Hospitals and Trinity Health.
“Innovation is an earmark of excellence and a core value for the Cleveland Clinic. Through its longtime relationship with PartsSource – a company known for its continual investment in technology, innovation and progressive solutions – the Cleveland Clinic implemented a parts procurement model that advanced productivity and improved equipment reliability and service,” said Paul Miklovich, CCE, Administrative Director of Clinical Engineering at the Cleveland Clinic.
PartsSource’s development of unique and patented processes and tools allow for customized solutions to provide each customer with exceptional supplier performance. One of the most popular and useful tools is the PartsSource Supplier Ranking Module (SRM). The patented SRM™ is used to measure the quality of each of PartsSource’s suppliers’ performance and parts. In turn, these factors drive the manner in which the company procures each and every part from suppliers on behalf of customers. The PartsSource supply chain team is focused on delivering quality to every single one of the 2,500 daily transactions.
For additional information about PartsSource, call 877-497-6412, email info@partssource.com or visit www.partssource.com