We provide access to favorably priced, quality assured medicine and health supplies by bridging the gap between pharmacies and suppliers. From community pharmacies to inpatient and outpatient pharmacy networks, MedSource provides a much-needed business advantage.
We help health care providers navigate an evolving landscape to make smarter decisions about business operations and processes using accurate and current data. MedSource provides a simplified procurement process resulting in savings for clinics, dispensaries, in-house clinics, hospitals, and hospital groups.
We provide manufacturers with increased volumes by connecting them in real time with a large network of distributors, institutional and retail pharmacies, clinics, and hospitals.
A group purchasing organization (GPO) allows independent pharmacies, pharmacy chains, hospitals, and other health care providers to buy goods and services at better prices than are usually available to them. It does this by leveraging the combined buying power of its member pharmacies and negotiating discounts with manufacturers, distributors, and other vendors. Because of the economies of scale, every member reaps benefits similar to the largest volume purchaser.
As a GPO, MedSource’s purpose is to improve accessibility and availability of affordable, quality medication and laboratory and health supplies for health care providers and ultimately the population at large.
MedSource seeks to reduce costs while promoting quality across the entire pharmaceutical supply chain through its membership of hospitals, clinics, pharmacies, distributors, and manufacturers.
MedSource works with suppliers (manufacturers, importers, and distributors) to streamline access and reduce the overall cost of medical supplies.
MedSource aggregates purchases from its members and directs them to a selected group of suppliers, resulting in larger volumes for those distributors and manufacturers.
MedSource does not purchase or stock medications and related health commodities. Instead, it provides its members with a platform through which the member places orders directly with the suppliers at MedSource-negotiated pricing.
MedSource, with input from provider members, will make final determinations on bids and select the distributors for the different products available on the platform.
MedSource will not change how its members operate and conduct business with their own suppliers, particularly regarding ordering, stocking inventory, payment, and other routine logistics.