Lunch & Learn with Lucro

Reimagining procurement of health technology

Jules Lancee

Biomagical Engineer at REshape

A key focus for the GNHIC collaboration is to bring some efficiency to how we interact with emerging technology vendors who are developing solutions to our health organizations’ most pressing patient needs. And so, we have been interested in learning more about the value proposition of Lucro – a matchmaking platform for buyers and sellers of digital health technology, globally.  In September, GNHIC collaborator Radboudumc’s REshape Center held a Lunch&Learn with Lucro’s product manager Zach Lykins. Based in Lucro’s headquarters, Nashville, USA, Zach joined us at 5 AM Nashville time to lead a workshop about the Lucro platform.

What is Lucro and how can it help you in the adoption of exponential technologies?

Lunch&Learn Lucro
The Radboudumc REshape team virtually working with Zach Lykins at Lunch & Learn

Lucro provides a way for healthcare organizations to find vendors that have solutions for their problems. Modeled off Pinterest boards, a health delivery organization creates a Lucro board to formulate their need, specifying the parameters of the solution they are seeking – including target patient outcomes! Subsequently vendors of such solutions who may be a good match, can digitally let the organization know they could meet the need that is expressed. On the Lucro platform the healthcare organization can ask questions to the vendors and compare different solution offerings. And this can be done without disclosing who the buyer is, if that is what the health organization prefers.

Benefits of Using Lucro when Scouting out Exponential Health Technologies

There are many benefits to the Lucro model of matchmaking – for both the buyer of health technology, and the seller. First, it makes the process of procuring health technology a lot more efficient and effective by stripping out a lot of the manual steps in the current paradigm, and allowing information to flow a lot smoother across multiple parties. Second, it allows multiple parties within a health organization who may be involved in the acquisition of a given health technology to all work off one set of of information (such as IT, purchasing, legal and a clinical department). Thirdly, it outsources the process of finding solutions for your problems to the actual vendors that are supplying those solutions.  Furthermore, it is a way for vendors to update their product information in only one place: their Lucro profile. With this profile they can submit their product to multiple boards that health organizations around the globe have created. If their offering changes, they simply update their board … no more emails to customers with large attachments!


Opportunity for health organizations across the global GNHIC network

Perhaps the most relevant feature of Lucro for GNHIC collaborators is the ability to join together innovation leads from different health organizations who may be working on similar issue areas. By inviting colleagues from other GNHIC organizations onto your project board, you can discuss different solutions and go through the procurement process collaboratively. The vendors that have submitted to your boards can be jointly discussed. And, via their profile, vendors can tell you about the use of their product(s) at other health organizations.

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Review submissions of solutions sent by vendors.

What’s next for GNHIC and Lucro?

To start the Radboudumc team has created a few boards based on the highest priority patient needs that GNHIC collaborators have indicated they are working on:

  • Voice recognition in healthcare with multiple language support
  • Augmented Reality in mental healthcare (screenshot below)
  • Blockchain for democratized access to healthcare

If you send us a quick note, we’ll invite you to one or more of the boards, and you can get started on jointly exploring emerging technologies that may help address your needs.

Got more ideas to collaborate on? Join the Lucro platform, create some boards, and invite us!

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Example board for Augmented Reality in mental healthcare.
Photo credits: Kenny Malone
2017-10-13T16:10:30+02:00October 5th, 2017|Categories: Blog|