“Making Medical Procurement Easy.”
This is what MedHyve, a Filipino-owned startup focusing on digital procurement, promises to the Filipino people.
Seeing how Level 1 and 2 hospitals in provincial areas struggle with complicated and inefficient procurement processes, Mr. Nigel Lirio, chief executive officer of MedHyve, along with Mr. Gabriel Henry Lopez as chief technology officer and Ms. Elle Quan as chief marketing officer, launched the company to offer a platform for simpler and more convenient procurement of medical supplies.
The main features of MedHyve include AI canvassing or smart product recommendations for healthcare providers, a digitized procurement process, and direct-to-brand- pricing on the platform.
The Pandemic Effect
With the pandemic driving industries to transfer most of their operations online, the role of MedHyve in the health industry is further emphasized. Not only does it enable a completely digitized procurement of medical supplies, it is also able to simplify and speed up the task and make an originally 2-4 week process possible in a few steps.
It currently carries more than 100 suppliers and 3000 products online and aims to further improve its services to help more facilities provide quality healthcare to Filipinos. With funding from the Department of Science and Technology- Philippine Council for Health Research and Development (DOST-PCHRD) under the Startup Research Grant program, the company is set to introduce artificial intelligence (AI) into the platform’s features with “MedHyve Intelligence.”
This provides users with a suite of AI-powered procurement tools and dashboards that will enable more efficient procurement for hospital staff. The development of the technology will be based on data gathered on the existing procurement practices in chosen hospitals allowing the team to generate evidence-based solutions and improvements to their current services.
“The project is really based on improving the procurement speed and making efficient spending for these hospitals through AI,” CTO and Project Leader Gabriel Lopez said, sharing how MedHyve Intelligence can make administrative processes in the health industry more cost-efficient.
MedHyve is one of the three pioneering grantees of the DOST-PCHRD’s Startup Research Grant launched in December 2020 to encourage research and development in the startup industry. To know more about their mission and services, visit: www.medhyve.com.