OneOncology Secures Over $1 Billion in Drug Purchasing Commitments from Community Oncologists

Wednesday, 19 September 2007
News
“Less than four months after our launch, I am pleased to announce that OneOncology has secured more than $1 billion in drug purchasing commitments from community oncologists,” said Steven Kirchof, chief executive officer of OneOncology.  “This number will continue to grow as more practices learn about the value of transparency, visibility and unity in drug purchasing.”

OneOncology is an electronic trading hub that brings together oncology practices and pharmaceutical drug distributors in an efficient and impartial electronic marketplace. The trading hub uses real time reverse auction technology specifically designed for community oncology.  The platform enables oncologists to build healthier practices and reduce administrative burdens through improved drug procurement and sourcing. Similar electronic trading hubs in industries such as chemicals and fuels have seen average price decreases between 3 and 35 percent. 

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