MEMdata serves medical facilities in the acquisition of equipment technology. Our services are designed for existing facilities and those under construction. We utilize a procurement auction process delivered from an online platform called eRFP, which has been verified by independent study to achieve competitive pricing for our clients. We serve approximately 550 medical facilities in 42 states, and process 8,500 equipment quotes per year. MEMdata archives over $1 billion in equipment quote data annually, in a database of over 20,000 assets. MEMdata is privately held.
eRFP Procurement Auction
In MEMdata's procurement auction process, the traditional auction roles of buyer and seller are reversed, with all sellers free to compete for business and sell equipment. Buyers have all brand choices preserved, and receive eRFP auction reports over an online platform. Vendor proposals are processed electronically and archived in a proprietary database encompassing 221 categories of medical and non-medical equipment.
MEMdata cost reduction performance has been independently verified by economic study, which found MEMdata generated 18% lower average equipment prices for hospitals in 2010. The study finds $37.5 billion per year in cost reductions could be generated if MEMdata's eRFP procurement auctions were applied nationally in the healthcare supply chain.