Reverse Medical Reversing expenses and streamlining the procurement process for the medical community !
Hospitals and medical groups are under constant pressure to reduce costs in order to provide patient-demanded services with the latest equipment and supplies. Professionals in the procurement arena are faced with many challenges. They lack resources, as well as support from suppliers. We help hospitals and GPO’s overcome these challenges through a comprehensive suite of applications that bring real-time competition to hospital purchasing while streamlining the payment process.
Leading hospitals recognize the need for new tools and resources that enhance the speed and effectiveness of their procurement process while cutting costs on physician-preferred equipment and supplies. We provide an e-sourcing and buying platform with real-time bidding, bid analysis, bid ranking , electronic payment, no cost escrow services for GNYHA members, full audit trail, free accounting and automatic invoicing in real time.
Your hospital is given its own web-portal; with one click, you can invite vendors to bid for your business in a real-time environment. We make sure that your sourcing and procurement event runs smoothly and that you realize maximum savings with a minimum of effort.
How the Reverse Auction works: In a web based real time reverse auction , your hospital or private practice is the buyer, and equipment suppliers are the bidders. You initiate a web based reverse auction for a specific budget range of capital for disposable equipment or services through Reverse Medical . We will assist you in making sure that the timing, correct suppliers and contacts result in a satisfactory bid response.
Once the web based reverse auction starts suppliers compete against each other to win your business, driving down the price in the process.
Because suppliers can see the price they are competing against, but not who they are competing with, they are much more aggressive in discounting.
Once the sourcing event is over, the buyer has the information he or she needs to make an informed decision, and is able to award with the click of a mouse.
Because suppliers submit multiple bids in response to pressure, they have more opportunities to earn a buyer’s business then in a closed format.
Effectively driving down prices to new lows is what makes Reverse Medical your one stop procurement specialist.
Additional no cost services included
Web based access allows members access to their account from anywhere in the world via the internet.
Members can fully manage all aspects of their buying and selling activity. The extensive and flexible My CP "My Control Panel" provides members with complete access to modify their marketplace preferences and control their accounting .
Dashboard also provides alerts and a sense of structure for new members informing them of what is going on, and what to do next in situations such as awarding bids, responding to private messages and so on.
Member Marketplace Activity
A fully manageable dashboard within the member control panel allows members to view all their activity status including winning auctions, bids placed, escrow status and so on. From here, there are various options available such as private messaging, feedback and media share tools.
Informative Dashboard Instant notification of auction activity Including bids and detailed accounting history.
Messages Activity Notifies members of any new private messages waiting in the inbox.
Accounting Activity Displays all transaction activity and any unpaid invoices also sends automatic invoices for awarded bids and receipts for paid invoices.
Escrow Activity Displays Escrow activity actions to be performed.
Bid Invitation Activity Displays new invitation listings to recent auction events.
Bids Activity Informs members of any news bids placed on their auction event.
Auction Control Manageable buying activity including full control over your Preferences, Profile, Escrow status and viewed resources.
Real time Interface Members can post auction events in Real time hours, minutes or seconds. Providing our members with a complete competitive bidding environment.
Buying Overview Manage and operate all your auction phases, listings and transaction status using a detailed management interface and review bids placed live via real-time graphing interface.
Escrow Manager Members manage and control their Auction Escrow status using an automated system to forward funds into a secure Escrow account for the auction winner.
Account Control Panel
The extensive Accounting control panel provides members with complete accounting and transaction management. Automatic alerts occur when updates are made within the account system and will automatically notify members in the Messages and Alerts section including a link to review any new changes.
Resources and Interactive tools are available for members to obtain their account balance status and request to Withdraw or Deposit funds from their account.
Allows members to easily deposit funds into their online account using e-checks via registered bank accounts. The entire process is fully automated and simple, members can view their updated balances in the Accounting Summary.
Transaction History Manager
A very convenient way for members to obtain all transaction history from their account, each transaction containing detailed descriptions and payment dates including the option to download all the history in a CVS format from anywhere in the world via web access.
Archived Auctions Keep completed auctions/RFP’s listings archived for purchasing history and review.
Award, Un Award & Decline Members have control to award, un award or decline bids placed on their auction event.
Media Distribution A convenient tool for buyers and Vendors to upload and accept relevant and required auction/RFP content through Shared and Private folders.
Feedback Ratings Members in the marketplace can use the feedback and ratings system to evaluate and leave feedback of the overall experience they had with other members.
Auction Access Members can select the type of event for the auction event to determine whether the auction will be publicly displayed for bidding or by invitation only.
Auction Durations Members can choose to set the auction event time duration in Days, Hours or Minutes.
Bidding Privacy Members can choose to enable bidding privacy by choosing the type of bidding privacy for the auction such as Blind bidding or Sealed bidding .
Invite To Bid Members can invite providers to bid on their auction events through various areas in the marketplace.
Instant Payment Support
Members deposit funds into their online account to make payments through the integrated Billing and Payment system. When members add funds to their online accounts, it grants them access to pay with the click of a mouse. Payment notification alerts to unpaid invoices and upcoming due dates.
We monitor and manage all marketplace escrow activity and status. In the case of unfair business, project disputes, etc. we have full ability to either force the release of funds which will automatically pay the provider from the escrow account while calculating any commission fees due from provider off the amount or refund the escrow funds back to the buyer from the escrow account.
Lowest Unique Bid Auction
Reverse Medical will post auction listings where vendors compete by entering their lowest bid amounts in hopes to be the winner with the lowest unique bid not placed by any other bidder!
Members keep all their marketplace transaction activity organized and managed through the extensive invoice management system. Search by invoice types or transaction ID, or use the management tabs to view paid, unpaid and scheduled transactions for print or download.
Flexible RFP Options Choose from various project budget types from large projects to small.
Auction Manager An organized management system for members displaying all their auction buying activity, bids and transactions.
Members have the choice to enable privacy during the bidding process by choosing the type of bidding privacy for the auction. Sealed bidding is available to determine that the bidder names are shown and the bid amounts are hidden.
Blind bidding indicates that the bid amounts are shown and bidder names are hidden, both these features are optional and are valuable to the buyer for maximum control over private auctions.
Integrated WYSIWYG BBcode Editor
Since members cannot use HTML (due to security reasons), The BBCode editor built into Reverse Energy allows special "HTML emulation" that members can utilize to create a unique and detailed auction description using emphasis and character along with maximum security from HTML exploit injections.
Real Time Live Bidding
A first of its kind live bidding interface that provides members with the option of a visual bidding environment during service and product auction events. Providers can participate at any time during the event while the auction is open.
Members who are posting auctions can choose if the auction will be conducted as a real time event by simply select the option of Real time Event in the Auction Event access section. This feature is a major benefit to buyers posting the auction and sellers viewing the bids that are placed in real time creating a more competitive bidding environment for each provider who is participating!