For smaller Health IT companies ready to scale, Mammoth is a conduit to the massive procurement opportunities of the US government. Our recommended path is the General Services Administration (GSA) Schedule 70, which is effectively a “preferred vendors list” for federal, state, local and tribal government procurement. The first step in determining if a company is “ready” to start the listing process is our M-PREP (Mammoth Pre-Readiness Evaluation Program). This online evaluation tool is fast, inexpensive, yet comprehensive.
The GSA is the largest procurement organization in the world. It operates through a series of 40 Schedules, which are then further sub-divided by Special Identification Numbers (SINs) designed to reflect specific deliverables. By aggregating the SINs in a proscribed manner, the GSA is able to ensure the vendor precisely meets the Scope requirements the government requires for a given procurement.
In August 2016, the GSA introduced a dedicated SIN for Health IT. To put the opportunity in perspective, in its first fiscal year of operation, just two US Departments, Health & Human Services (HHS) and Veterans Affairs (VA) purchased over $888 million in Health IT solutions. They then added another $200 million in Q1/2018.
For Health IT, the product areas include a wide range of services such as: connected health, electronic health records, health information exchanges, health analytics, personal health information management, innovative Health IT solutions, health informatics, emerging Health IT research, and other Health IT services. “Equipment for physically challenged” are also usually able to be covered.
Mammoth, in conjunction with our strategic partner Launch NY, offers professional procurement guidance. This assists Health IT companies, which we have listed on the GSA, in securing government contracts. Interested clients may be able to also access the “Launch NY Health IT Fund LLC” to cover costs related to the procurement process.
As well, Mammoth is also prepared to recommend Canadian Health IT companies it has rated via M-PREP, to the BDC (Business Development Bank of Canada) for potential funding.
As stated our goal is to find the means to support Health IT companies, which we have listed on the GSA, to successfully secure government contracts to accelerate building their business.
Typical agencies include: