How Wellplaece is Revolutionizing Supply Purchases for Dentists
Dentists are an essential part of healthcare in the US, with 186,000 dentist businesses offering their services. The process for replenishing dental supplies was traditionally fragmented, with offices relying on three to seven vendors, on average. This meant that someone had to sit at a computer with tabs open on vendor websites, comparing prices and finding the best deals. This process has become even more difficult due to the global pandemic, which has strained the supply chain and made it hard to find everyday items such as gloves and masks. However, Caen Contee, founder of global micromobility startup Lime, and software engineer Ivan Bertona teamed up to develop an automated multi-vendor purchasing platform called Wellplaece for dental offices.
What is Wellplaece?
Wellplaece is a proprietary technology that digests customer order data to take specific needs into account, enabling the customer to perform purchasing behaviors across a large network of suppliers via a shopping cart. This system is efficient and effective in managing logistics while also providing returns and chargebacks when necessary. The platform is free for dental practices to use, and Wellplaece takes a cut of the sales it generates for the provider.
How Wellplaece Works
Wellplaece works by digesting a customer’s order data and assessing their specific needs. It then allows the customer to shop from a vast network of suppliers via a shopping cart, making the procurement process much more manageable and streamlined. Wellplaece also takes over the logistics and manages returns and chargebacks as required. Billing only occurs after an order is placed, processed, and confirmed for delivery.
Advantages of Using Wellplaece
The use of Wellplaece has several benefits for dental practices:
Savings: The platform provides significant cost savings for dental practices. The first cohort of dental practices that used the platform saw savings of 20% to 40% per order.
Efficiency: Wellplaece has amassed over 700,000 products across its dealer and manufacturer network, making it a one-stop-shop for dental supplies.
Expansion and Growth: Wellplaece has already added over 100 new locations to its dealer and manufacturer network since its creation and is set to expand further by the end of the year.
Investment: Wellplaece recently closed a $3.5 million seed round, co-led by Eniac Ventures and Bee Partners, with participation from various businessmen and investors. This investment will allow the company to accommodate thousands of dental practices and expand its reach over the long term.
Wellplaece and Industry Disruption
Wellplaece is one of many startups, such as bttn, helping medical professionals procure the supplies they need. Contee believes that industry disruption and innovation are essential in times of crisis. Distributors were trying to sell directly online with an account and a customer portal, leading to online catalogs where data could be mined. The boost to e-commerce that resulted from the pandemic created the perfect storm for companies like Wellplaece to exploit the situation and develop an efficient platform to aid the procurement of dental supplies.
Conclusion
Wellplaece is revolutionizing the procurement process for dental practices and is already generating significant cost savings and efficiencies for those who have adopted it. The disruptive technology is expected to continue to expand and grow, helping even more dental practices streamline their procurement processes and generate significant savings. As the industry becomes more digital and connected, platforms like Wellplaece will become even more essential for driving innovation and industry disruption.
Summary
Wellplaece is an innovative multi-vendor purchasing platform for dental offices that digests customer order data and enables the customer to perform purchasing behaviors across a large network of suppliers via a shopping cart. The platform is free to use for dental practices, and Wellplaece takes a cut of the sales it generates to the provider. Wellplaece has already amassed over 700,000 products across its dealer and manufacturer network and is set to expand further by the end of the year. The service has garnered significant investment, a total of $3.5 million seed round, which allows the company to expand its services to more than thousands of practices that it tweaks for years to come. This system is efficient and effective in managing logistics while also providing returns and chargebacks when necessary. The use of Wellplaece has several benefits, including significant cost savings and streamlining procurement processes.
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there’s almost 186,000 dentist businesses in the US, and at one point, they are replenishing supplies. The process for doing so was traditionally fragmented, with offices relying on three to seven vendors, on average.
This means someone sits at a computer with tabs open on vendor websites, going back and forth between them, comparing prices and finding the best deal. In recent years, the global pandemic has added to the problem, which has strained the supply chain and made it difficult to find everyday items, such as gloves and masks.
Caen Contee, founder of global micromobility startup Lime, told TechCrunch that this is an avoidable problem. He teamed up with software engineer Ivan Bertona to develop good placean automated multi-vendor supply product purchasing platform for dental offices.
“Think of technology as a layer of stripping over dental practice acquisition,” Bertona said in an interview. “In terms of optimization, we can also learn about customer habits and which products they would be willing to substitute with equivalent but cheaper alternatives versus which they would not be considering.”
Here’s how it works: Wellplaece’s proprietary technology digests a customer’s order data, taking specific needs into account, and then enables the customer to perform those specific purchasing behaviors across a large network of suppliers via a shopping cart. .
Wellplaece co-founder, Caen Contee. (Image credit: Wellplace)
Billing occurs after orders are successfully processed, placed, and confirmed for delivery. Meanwhile, Wellplaece manages the order and logistics, as well as returns and chargebacks as needed. The platform is free to use for practices and Wellplaece takes a cut of the sales it generates to the provider.
Wellplaece sits among other startups, such as bttn, helping medical professionals get the supplies they need. Trying to build something like this even three years ago, however, would have been difficult had it not been for a few factors, including the boost to e-commerce that resulted from the pandemic, Contee said.
Distributors were trying to sell online directly with an account and a customer portal. That led to online catalogs where data could be mined.
“All of those things, for me, have created this perfect storm,” Contee said.
Meanwhile, the company began taking orders from a small group of practices in November 2022 and began accepting more practices in a private beta this month. This first cohort of dental practices has already seen savings of 20% to 40% per order, Contee said.
In addition, the marketplace has already amassed over 700,000 products across its dealer and manufacturer network and is set to add over 100 new locations by the end of this year.
Wellplaece’s launch is fueled by a recently closed $3.5 million seed round, co-led by Eniac Ventures and Bee Partners, with participation from Erik Anderson, Co-Founder and CEO of WestRiver Group; Haroon Mokhtarzada, co-founder and CEO of TrueBill and RocketMoney; Andy Oreffice, former CCO of Affordable Healthcare; and businessman Francis Hellyer.
In total, the company raised $5.5 million that is being implemented into the expansion so it can accommodate thousands of practices that expect to use the platform for years to come.
“A typical practice with two dentists will spend between $4,000 and $5,000 on supplies a month, and the least efficient can spend up to 10% of their overall budget on supplies,” Contee said. “The most efficient practices can reduce it to around 4%. We want to immediately help practices get closer to that more competitive best-in-class range for what they should be spending on their total costs.”
Wellplaece wants to put a smile on dentists’ face with new supply procurement marketplace
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