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A service for medical industry professionals · Sunday, September 19, 2021 · 551,760,316 Articles · 3+ Million Readers

PH startup to use AI to improve digital medical procurement

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We have 3000+ SKUs and growing

Medhyve receives funding and support from PH government's DOST-PCHRD

The project is really based on improving the procurement speed and making efficient spending for these hospitals through AI.”
— Gabriel Lopez, CTO

MANILA, PHILIPPINES, August 4, 2021 /EINPresswire.com/ -- Healthcare startup Medhyve’s AI capabilities will further be strengthened with funding and support from the Department of Science and Technology- Philippine Council for Health Research and Development’s (DOST-PCHRD) Startup Research Grant program.

Aiming to make Medical supplies procurement more efficient, Medhyve will improve on its AI canvassing and smart product recommendation tools for healthcare providers, enabling a digitized procurement process, and direct-to-brand- pricing on its B2B marketplace platform.

Artificial intelligence (AI) embedded into the platform’s features dubbed as “Medhyve Intelligence” provides 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. There are currently over 3000 products on the Medhyve platform, including international brands like Johnson & Johnson, Omron and Diversey.

Medhyve is one of the three pioneering grantees of the DOST-PCHRD's Startup Research Grant aimed at encouraging research and development in the startup industry. Launched in December 2020, the Startup Research Grant is the DOST-PCHRD’s contribution to the implementation of Republic Act 11337 or the Innovative Startup Act which aims to promote R&D in the Philippine startup industry. The program grants research funding for health startups to encourage R&D in the industry and enhance their product’s market potential. It supports research activities pursuing two main tracks: proof-of-concept to product (POC2P track) and product to market (P2M track).

The pioneering batch of grantees presented their engagement plans in a meeting with DOST-PCHRD Executive Director Jaime Montoya last July 2021.

“The paradigm shift that we have to appreciate now is that we need the private sector to support national government-initiated programs. I hope that with stronger private sector initiatives, through the Startup Research Grant program, we can help these startups.” Executive Director Montoya said, expressing the DOST-PCHRD’s commitment to strengthen its support to the Filipino health startups.

The other startups in the pioneer batch are SEEYOUDOC Corp., and Pivotal Peak Digital Health Solutions, Inc.

Elle Quan
Medhyve
+63 998 950 4725
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