Nitra, a provider of financial products including corporate card programs, smart expense management solutions, and payments services to medical practices and healthcare providers, announced the launch of a new healthcare supply marketplace to further reinforce its commitment to reducing the burden of healthcare costs for businesses, practitioners, and patients.
The Nitra Marketplace delivers the highest quality products at the lowest possible prices, bucking the trend of rising prices and lack of transparency in healthcare purchasing and procurement. With a majority of spend by Nitra’s corporate cardholders on healthcare supplies from leading vendors such as McKesson, Cardinal Health, and Medline, to name a few, Nitra is uniquely positioned to capitalize on valuable insights unlike other traditional suppliers, distributors, and marketplaces. The purchasing capabilities Nitra provides its customers feeds valuable data and analytics to optimize product availability, pricing, and relevancy at scale.
“Hundreds of billions of dollars are spent on medical supplies every year, and the existing infrastructure creates a lot of additional costs that have been rising due to margin expansion and supply chain challenges – these are unfortunately ultimately paid by patients at the end of the value chain,” said Jonathan Chen, founder and CEO of Nitra. “We’re very proud of the launch of our marketplace and grateful to our initial cohort of vendor partners who enable us to offer thousands of SKUs at extremely competitive prices. We’re already seeing great traction from our existing customers and those that are new to Nitra, which speaks to the value we’re delivering. While we are betting big on the Nitra Marketplace as an important pillar of our business going forward, we’ll be relentless in our pursuit to build an ecosystem of products and solutions to drive efficiencies and reduce costs within healthcare across the purchasing and payments workflow continuum.”
Although anyone can shop the Nitra Marketplace, Nitra corporate cardholders receive concierge purchasing support, a price match guarantee, and higher cash back rewards (which may in turn be redeemed for future Marketplace purchases).
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