The new CareCart platform is designed to meet the specific needs of these industries and to comply with rules and regulations that govern them, AirTank said in a Wednesday (Nov. 23) press release.
“CareCart is built to simplify this complex world through its compliance and API [application programming interface]-first architecture,” AirTank Vice President of Business Development Stephen Cuccio said in the release.
The healthcare and medical technology sectors have unique needs around consumer privacy and compliance, complex workflows and integration, Cuccio said.
In addition, customers have higher expectations around privacy and security, according to the press release.
CareCart is designed to provide an integrated and secure experience while saving brands, marketing and IT teams the time they would have spent building the technology they need, the company said.
The platform has already processed $100 million in gross merchandise value (GMV), per the announcement.
“The feedback is that CareCart is poised to be an industry disrupter,” Cuccio said in the release. “Clients who have trialed the platform report more scalability, an easier ability to make informed decisions based on data, and increased revenue from a healthcare-specific platform.”
PYMNTS research has found that suppliers of medical goods have been slow to adopt technologies to send invoices and process payments quickly and seamlessly.
Some 70% of healthcare invoices are still paper-based, according to one report, and almost 85% of purchases are paid for with paper checks, as reported in the “B2B Payments in Healthcare Tracker®,” a PYMNTS and American Express collaboration.
Not surprisingly, the report said, these outdated processes cost the industry up to $6 billion in payment mistakes and almost $40 billion in waste due to invoicing problems that often lead to supplier payments averaging more than two months late.
