Symmetric Health Solutions offers a healthcare supply and analytics platform that integrates a global database of over 18 million medical supply items, enabling efficient item master management, contract alignment, and spend analysis. The platform addresses data quality issues in healthcare supply chains, helping hospitals optimize procurement processes and identify cost-saving opportunities.
Funding
$130K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Healthcare providers often struggle with fragmented and inconsistent data across their supply chain systems, leading to inefficiencies in item master management, contract alignment, and spend analysis. This lack of data quality hinders effective procurement processes and obscures potential cost-saving opportunities.
Solution
Symmetric Health Solutions offers a supply chain data management and analytics platform that integrates a comprehensive database of over 18 million medical supply items. The platform cleanses, standardizes, and enriches item master data with attributes like GTINs, UNSPSCs, and manufacturer information. By aligning item masters with contract and purchase order data, Symmetric enables hospitals to identify discrepancies, optimize contract terms, and uncover savings opportunities. The platform also provides data quality reporting and analytics dashboards to track improvements over time and ensure data integrity across the supply chain.
Target Audience
The primary target audience includes hospitals, healthcare systems, and integrated delivery networks seeking to improve supply chain efficiency, reduce costs, and enhance data quality.
Features
- Item master data cleansing and enrichment with GTINs, UNSPSCs, HCPCS, GMDN, and other attributes
- Automated item adds and maintenance through integration with operational systems
- Identification of substitute items and management of approved substitute lists
- Item/contract/PO alignment to identify opportunities for bottom-line improvement
- Bulk contract data uploads via API integrations
- Spend analysis to identify missed reimbursements, potential savings, and top spend categories
- Data quality reporting on packaging strings (GTINs), UNSPSCs, and HCPCS
- Analytics dashboards to track item master data quality metrics over time