Healthlogistics.co.uk Ltd, provider of e-procurement solutions to the NHS, has acquired hTrak Pty Ltd, Australian supplier of procedure costing and billing solutions.
The companies' combined product offering will provide NHS Trusts with an end-to-end solution for their e-procurement requirements, resulting in significant efficiency savings.
Through this acquisition, Healthlogistics will be able to provide NHS Trusts with accurate procedure costing information for each patient, supported by barcode scanning, contract pricing of consumables, auto-replenishment of stock and full track-and-trace, all via the web.
Healthlogistics' and hTrak's combined solution has already been in use at Derby Teaching Hospitals NHS Foundation Trust since April 2014. Using a handheld scanner, healthcare professionals capture at the point of use every item used during a procedure, record members of staff present and link the information to a specific patient. This enables healthcare providers to access live, accurate information about the cost of each procedure, and eliminates the need for manual paperwork and costing of each item after the event.
Peter Elwin, Joint Managing Director, Healthlogistics said: "Sectors such as manufacturing and retailing have widely implemented point-of-use data capture and e-procurement solutions. We believe that our combined expertise will have a transformational impact, as it will enable NHS Trusts to control their procurement spend more effectively and reduce both paperwork and inventory whilst improving patient safety."
Kirk Kikirekov, Managing Director, hTrak said: "Our customers report reductions of around 70-80% in the time taken to process replenishment requisitions, whilst automating reordering functions can save 80% on administration costs, reduce spend by 7% and inventory by 25-50%. Together with Healthlogistics we can create a more effective business operation delivering significant benefits for healthcare providers in the UK and Australasia."
The acquisition, which took place on 17th April 2015, means that customers in each country will now deal with one organisation for all of Healthlogistics' and hTrak's services. It will also enable the new organisation to leverage its combined master data for products and consumables and develop further solutions as one entity.