MATTER Member Profile: Jim Ivers of Mondopoint
Posted August 26 by Elizabeth Lynch
MATTER Marketing Intern
How a Medical-device-rep-turned-entrepreneur is Trimming the Fat in Hospital Supply
As the shift to value-based care brings sea change to the healthcare industry and hospitals look to provide more value at lower cost, the iron is hot for healthtech innovators to strike and help hospitals cut their supply expense. Enter Mondopoint – a platform that puts hospitals in the driver’s seat with tools to facilitate meaningful risk sharing between providers and suppliers based on the clinical performance of medical devices.
Mondopoint CEO and co-founder Jim Ivers notes that as the industry shifts to a fee-for-value model, the relationship between cost, quality, and outcomes is more important than ever. But, he knows from his 10 years as a medical device rep that most hospitals lack a systematic way of holding suppliers accountable for the claims they make about product performance. With that in mind, he launched Mondopoint as an out-of-the-box solution to help hospitals get the most from their supply chain dollars.
Mondopoint helps hospitals make value-based purchasing decisions by tracking the performance of their medical products in real-time. Mondopoint’s software relates products’ cost to their impact on quality of care and patient outcomes, connecting disparate data sources and “synthesizing actionable information regarding a product’s impact on patient care and the hospital’s bottom line,” says Jim. It’s also incredibly scalable: healthcare systems can use Mondopoint to optimize their supply utilization by product category and create comparative benchmarks between their hospital facilities.
While industry leaders are generating buzz by pointing out that economics and regulatory pressures are making risk-sharing between healthcare systems and their suppliers all but inevitable, Jim and his team have developed a working platform that makes this type of value-based purchasing a reality. Jim stresses that he simply “sells the model” to his traditionally risk-averse client base: hospitals know their ever-increasing supply budgets are unsustainable and, in some cases, there are “entire departments” devoted to addressing the problem.
Right now, Jim is focused on quantifying the impact Mondopoint has on reducing supply expenses while improving patient outcomes and demonstrating the value of the platform. Hospitals know they have a mounting challenge with matching supply spend to value, and Jim has the answer.