Paul Hasbrook, CEO & Co-Founder, Seabright Healthcare Solutions
The COVID-19 pandemic has revealed just how badly fractured our healthcare supply chain can be and how desperately it needs innovation. What makes healthcare supply chain management so complex is the fact that all stakeholders involved in the process seek to protect their interests. We have physicians who are very active in selecting the products but don’t bear the cost burden. We have sales reps that are incentivized by revenue, not quality of care. And then we have hospitals that are financially accountable to the patient’s episode of care. The inflation and inefficiencies around this process make it expensive, complex, and difficult to contain.
Offering comprehensive and sustainable answers to such growing challenges within the healthcare supply chain, Seabright Healthcare Solutions, LLC. is driving cost savings, eliminating waste, and implementing process improvement. Its proprietary solutions reduce cost and mitigate risks associated with expensive physician preference items (PPI) and put the power back in the hands of the provider.
According to the healthcare company, to address these challenges, it is critical to focus on building efficiency and resilience back into the PPI supply chain while mitigating risk. This can be accomplished in three ways: automating, standardizing, and digitizing the billing process. By transforming the bill-only process into a paperless one, both the hospital and sales rep benefit by reduced processing times, improved analytics, and more effective cost containment. Hospital personnel can approve a standardized format for vendor charges that can then be entered by the rep using a simple cloud interface.
“These changes help relieve the strain on both the procedural areas and purchasing. Our solution reduces cost leakage and creates transparency throughout the procurement process. This enables better data capture while introducing a vital feedback mechanism.,” asserts Paul Hasbrook, the CEO and Co-Founder of Seabright.
Bringing Innovative and Data-Driven Solutions to Healthcare Providers
The pioneering company offers a wide array of solutions to enable hospitals to reduce costs with improved risk assessment data. Seabright’s key offerings include Bill Only Portal, Service Line Cost Reduction, and Bill Only Risk Assessments.
- Bill Only Portal App
Seabright’s flagship solution addresses an unmet need in the healthcare supply chain. The conventional bill only charge sheet process is time-consuming and error-prone. With a lack of training and oversight, it can lead to inconsistencies that equate to millions of dollars in losses. Seabright’s cloud-based Bill Only Portal takes this paper-driven process and digitizes it to empower the providers with the added oversight, auditing capabilities, and data they’ve been missing.
“Additionally, we’ve refined interaction between the sales rep and billing departments and provided per case capture of procedural cost and product utilization. Our app,” Paul explains, “provides an improved user experience and leverages digital data collection and proprietary algorithms to improve processes and reduce costs.”
- Service Line Cost Reduction
In addition to the Bill Only Portal, Seabright also offers a comprehensive review and savings program for high volume service lines. Under this program, the company proposes and implements a custom savings solution after analyzing a hospital’s current spending, procedural mix, and savings goals. It also manages vendor engagement and on-site implementation and completes follow up audits for ongoing savings capture and process improvement. This revolutionary process provides the hospital with unique feedback on vendor behavior and associated risk to savings to achieve aggressive savings goals in both the short and long term.
- Bill Only Risk Assessment
Finally, with its one-of-a-kind Bill Only Risk Assessment, the company can analyze any areas of greatest vulnerability, focusing on actionable financial recovery. It can identify and quantify process and cost leakage risks by reviewing bill only data and related processes. Using these results, it documents behavior patterns and anomalies of manufacturers, sales reps, and physicians.
The Beginning of Seabright
The genesis of Seabright interestingly began in a hospital conference room when its two co-founders, Bryan Hooppaw and Paul Hasbrook, were negotiating medical device contracts. Bryan was representing the interests of the hospital while Paul was incentivized by his role as a medical device distributor. They had this same discussion year after year with no real resolution until they openly examined the inherent challenges with the hospital/vendor relationship. Initially, they focused on the contracting process and how labor intensive the procurement of physician preferences items can be. Ultimately they began pursuing solutions to innovate and streamline the process, and thus, Seabright was born in 2018.
Seabright differentiates itself from the rest by focusing on a part of the process that does not get a lot of attention from its competition. With its unique understanding of PPI procurement from manufacturer to payment, its approach delivers a simple and effective tool to hospital customers. All of its software and service offerings are focused on bridging the gap between supplier and provider. It strives to automate and standardize solutions that fit the unique needs of each organization. The company not just helps its clients in reducing cost leakage but also equips them with the right data in real-time, which offers providers insight and power over the procurement process.
“Our mission at Seabright is to empower our customers to refine their approachs upplier interaction, increase value and efficiency for both providers and manufacturers, and reduce the cost of physician preference items in the preoperative supply chain” Paul explains. “We are giving them the knowledge and transparency they haven’t had until now.”
Staying Focussed amid Uncertainty
The current pandemic situation has created disruption in every field and Seabright hasn’t been untouched. Like many organizations, it had to re-assess the year and halt commercial efforts for 4 months to give its hospital partners some room for dealing with the pandemic. During these uncertain times, the company focused its efforts on bolstering its plan, educating its team, and contributing to the communities. In November 2020, Seabright presented at its first-ever online demo event before an audience of 120+ investors and entrepreneurs. Forging ahead, the company aims to further scale its workforce and enhance its capability to better serve its customers.
When asked about Seabright’s plans for 2021, Paul responded, “We are scaling our workforce in anticipation of the 2021 demand for supply chain management solutions and rapidly evolving our technology to further enhance our capability and deliver an even greater value proposition to our customers.”