Cohealo, the first sharing economy company in healthcare, today announced a group purchasing agreement with Premier. The contract will enable Premier members, at their discretion, to access Cohealo’s sharing platform to reduce equipment needs this capital planning season and unlock savings opportunities. Premier is a leading healthcare improvement company, uniting an alliance of approximately 4,100 U.S. hospitals and 200,000 other providers to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, advisory and other services, Premier enables better care and outcomes at a lower cost.
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“Cohealo saves health systems money by sharing medical equipment between their owned and affiliated facilities, enabling hospitals to fulfill capital requests that might otherwise be unaffordable due to COVID-19 financial challenges,” said Todd Rothenhaus, M.D., Cohealo’s chief executive officer. “The Premier team has a long history of collaborating with member health systems to deliver the best possible healthcare at the most affordable price. Cohealo is well aligned with Premier’s mission to deliver meaningful results around cost, quality, and access.”
The Cohealo platform dynamically reallocates equipment across health networks, taking on all the work of logistics, conflict management, and communication between lenders and borrowers. Deep insight into equipment usage drives capital planning that disrupts the clinical equipment replacement cycle, freeing up dollars for more strategic purchases. Cohealo has conducted more than 5,000 shares of over 100 different equipment types, with expertise in mobilizing even the most delicate of assets, including microscopes, lasers, and surgical robots.
Cohealo is the technology platform for the groundbreaking Dynamic Ventilator Reserve (DVR), a partnership between the White House, American Hospital Association, and leading group purchasing organizations to ease COVID-19-related shortages by sharing ventilators between participating health systems. The DVR is comprised of six of the ten largest health systems in the country, and more than two dozen leading healthcare networks.
Based in Boston, Cohealo finds savings for health systems by increasing the utilization of their medical equipment through proactive data analytics and equipment sharing, so health systems can re-invest those dollars into growth. With deeper insights into equipment usage, hospitals can pinpoint redundant equipment, opportunities for rental avoidance, and ways to share equipment between facilities. As the program scales within a health system, the network effect drives increasing levels of savings and improves providers’ access to expensive medical technology. Cohealo has been named to Fast Company’s Most Innovative Companies List and CNBC’s Disruptor 50 and is recognized as the first solution of its type to bring the sharing economy to healthcare. Learn more at cohealo.com.