Designing a Methodology to Find More Value Through Tenders

To optimize the tendering process, it is increasingly necessary to include outcomes-related expectations, that these expectations be measurable, that healthcare expenditure is reduced, and that there are supplier implications into the future. To accomplish these objectives, Vamstar is ready to assist with developing a tailored methodology that utilizes best practices—this includes the concepts of the most economically advantageous tender (MEAT), value-based procurement (VBP), and risk-sharing.

This is not an easy task for many reasons, including the potential for fragmented health systems to have counteracting incentives, lack of a quick feedback loop due to long billing cycles, privacy laws that may impede merging data for analysis from varied sources, and a general mistrust among parties due to a lack of knowledge. That said, Vamstar is well-positioned to provide insight on value-based procurement and risk-sharing as it stands today, thanks to the company’s AI-driven healthcare and life sciences exchange. In addition, Vamstar has been indexing these criteria on its platform since inception, dissecting the contracting landscape in a way that recognizes when value-based agreements are possible and extracting a template to implement win-win contracts.

We use a data-driven approach that includes product specifications, ten years of European tender awards, clinical evidence studies, value-based language in contracts, and risk-sharing language in contracts.

Typical project flow; Our analytics capabilities, coupled with artificial intelligence enable us to provide data-driven intelligence.

Pairing clinical evidence with tenders is an integral part of this process, as it provides additional insights into endpoints such as study-related outcomes, longevity outcomes, and device-specific characteristics. These data points can be used to improve and refine upcoming tenders, improving the quality and quantity of bids received.

For example, MedTech Europe commissioned Vamstar to conduct a high-level data analysis of the tender activity in different regions with the aim of gaining insights into ESG adoption trends and policy landscapes across Europe. The scope of work included three core objectives:

• Identify leaders and laggards in ESG usage in Europe.
• Identify commonalities in the language used in tenders by various buyers.
• Develop a strategic paper on the current stage of ESG usage in Europe.

The result is a paper based on more than 4,000 tender notices that describe the weighting of ESG incorporation over the years, identifies best practices that may impact increased usage across countries, and identify the language used to encourage ESG uptake in different product categories. Vamstar has also recently conducted multiple studies for the NHS, answering questions related to procurement collaboration across Trusts, increasing supplier transparency, and finding the next wave of savings from non-pay spending, among other projects.

In conclusion, keeping up with the latest advancements in e-procurement and tender development is crucial for any organization looking to stay ahead of the competition.

If you want to take your procurement processes to the next level, don’t hesitate to get in touch with us, shane.walker@vamstar.io or soumitra.sharma@vamstar.io , today for assistance. Our team is ready to help you achieve your goals and streamline your procurement operations. Let’s work together to create a brighter future for your organization.

Tender | VBP | Procurement | ESG | Europe | MedTech | Healthcare | Life Sciences | Data | Artificial Intelligence | Bids | Clinical | Exchange Platform | Contract | Insight | MEAT