[ibimage==37748==Large==none==self==ibimage_align-center]
Hybrent, a new company in the healthcare tech space that improves hospital supply chain efficiencies with mobile apps, API and HL7 interfaces, just raised a $500,000 seed round.
A recent study showed that approximately 20 percent of nurses' time is spent looking for supplies, which is a waste of time and money. Hybrent’s mobile ordering app GOO provides a single consolidated interface to all inventory and supply chain systems to help make communication between a customer’s hospital supply chain and clinical team more productive. Customers see everything related to the ordering and delivery of supplies within their hospital.
Hybrent provides customers with a personalized menu and real-time list of items they’ve used, ordered and their status with a click. Customers also receive notification with info like the tech assigned to deliver the order, when the order was assigned, where it sits in the cue, how long it will take to arrive, and when and item is delivered. They’ll also be notified of what other clinicians already ordered to avoid costly duplicate orders.
An idea designed in Chicago
Harold Richards, President and co-founder, has spent 20 years in the healthcare supply chain industry working in the trenches and finding solutions to supply chain issues. CEO Ken Tighe an experienced tech investor and entrepreneur has launched and successfully exited several software companies in the past 25 years. As the former CEO of CareFusion, he helped scale the business from startup to acquisition in 2006 by Cardinal Health. Navneet Gosal, co-founder and CTO, was also the former CTO and founding team member of the original CareFusion. He and Tighe both met Richards in 2012 at CareFusion.
Richards was known as someone who was always striving for efficiencies and just wanting things to run better. There was one problem in particular that eluded him and wasn’t totally being addressed. Richards had an idea. Together with Richards’ idea and guidance, and Goasal and Tighe’s contacts, Hybrent was born.
“Richards’ idea is a good one, we’re surrounding him with people who know how to build a company from the ground up,” said Tighe.
Richards’ vision was a total supply chain solution that would eliminate system waste and save the hospital millions. It would also help his clinical counterparts work more efficiently with the supply chain. This would increase job satisfaction and they'd be able to spend more time with patients.
Growth in 2014
In November 2013, Hybrent completed their first install for Ingalls Memorial Hospital: “The most exciting thing for me is that this is a tool for nurses and clinicians to get supplies on the floor, usually these tools are purchased by management and forced upon workers. They usually hate it. Ingalls Memorial Hospital loves it,” said Tighe. “We’re smoothing the whole disjointed process and connecting all the links in the supply chain.
There's roughly 5,000 hospitals in the US, and upwards of 250,000 doctor’s offices – Hybrent is relevant to all of them. Hybrent’s biggest competitor? Doing nothing, and relying on older tech.
Hybrent is hoping to bring on 10 hospitals in the next year. Since the tool is adaptable, lightweight and cloud-based, they also see a great fit for doctor's offices, so they hope to be in some number them this year, particularly ones that are part of the hospital system. Hybrent is also talking with a few distributors in Group Purchasing Organizations (GPOs) that aggregate demand for contract pricing.
Currently, they're a team of six full time employees plus a wholly owned subsidiary that does the bulk of development in India. They hope to add another six or seven employees over the next year in sales, marketing and project management. They also have plans to expand the functionality of the tool beyond its use in hospitals.
“I’m excited about the market opportunity and nursing acceptance, because a happy nurse is a happy patient, which makes happy hospital, ad more reimbursement under patient satisfaction,” said Tighe.
