Medsource Strategic Pillars
Group Purchasing Organisation
How Does a Group Purchasing Organization Work?
As a group purchasing organization (GPO) MedSource allows independent health facilities to buy goods at better prices than are usually available to them. It does this by leveraging the combined buying power of its members and negotiating discounts with suppliers. Because of the economies of scale, every member reaps benefits similar to the largest volume purchaser.
One of the most chronic challenges that healthcare businesses face is inadequate working capital solutions. To address this gap, MedSource piloted inventory finance to address this gap. Presently, there is proof of concept with over 50 pharmacies and hospitals successfully supported. The utilization of funds (allocated to the member’s E-wallet) is limited to the purchase of inventory from partner suppliers with repayments done within the agreed timelines. Plans are underway to bring on board strategic financial inclusion and payment gateway providers as the MedSource inventory finance is scaled up.
The progressive attainment of SDG 3 on health requires concerted efforts in ensuring that the health under-resourced populations’ needs are met. This is attained through access pricing programmes as well as MedSource advancing its thought leadership strength to shape the policy and legal frameworks to strengthen health supply chains.
MedSource Extended Retail Access
Pharmacies are the primary point of contact in Kenya for patients. To drive affordability in healthcare, The MedSource New ERA aims to support pharmacies through a suite of interventions for scalability and an improved credit scoring.
- Rebates and incentives
- Financial inclusion
- Key value items
- Improved services
- Inventory management