The Fragmented World of Dental Supplies: How Wellplaece is Revolutionizing the Industry
A Fragmented Market
There are nearly 186,000 dentist businesses in the U.S., and at any given time, they are replenishing supplies. However, the process of doing so was traditionally fragmented, with offices relying on between three and seven suppliers, on average. This means someone sits at the computer with tabs open to vendor websites, going back and forth between them, to compare prices and find the best deal.
The Strain of the Pandemic
Adding to the issue in recent years was the global pandemic, which strained the supply chain and made finding everyday items, like gloves and masks, more difficult. The pandemic accelerated the need for a more efficient way to manage dental supplies, and it’s an avoidable problem, according to Caen Contee, co-founder of global micromobility startup Lime.
A New Solution: Wellplaece
Caen teamed up with software engineer Ivan Bertona to develop Wellplaece, an automated, multi-vendor supply product purchasing platform for dental offices. "Think of the technology like an extraction layer on top of procurement for dental practices," Bertona said in an interview. "Around optimization, we can also learn about customer habits and what products they might be willing to substitute with equivalent but cheaper alternatives versus which ones they wouldn’t be looking at."
How Wellplaece Works
Wellplaece’s proprietary technology digests a client’s ordering data, taking into account specific needs, and then enables the customer to make those specific purchasing behaviors across a large network of suppliers via one shopping cart. Billing occurs after orders are successfully processed, placed and confirmed delivered. Meanwhile, Wellplaece manages the order and logistics as well as returns and chargebacks as needed.
The Benefits of Wellplaece
The platform is free for practices to use, and Wellplaece takes a portion of the sales it drives to the supplier. By streamlining the procurement process, dental offices can save time and money. In fact, the first cohort of dental practices that have used Wellplaece have already seen 20% to 40% savings per order.
A Growing Network
The marketplace has already amassed over 700,000 products across its network of distributors and manufacturers and is poised to onboard over 100 new locations by the end of this year. With a recently closed $3.5 million seed round, co-led by Eniac Ventures and Bee Partners, Wellplaece is well-positioned to continue scaling.
The Future of Dental Supplies
A typical practice with two dentists will spend somewhere in the range of $4,000 to $5,000 on supplies monthly, and the least efficient ones may spend up to 10% of their overall budget on supplies. The most efficient practices may get it down to around 4%. With Wellplaece, dental offices can optimize their supply chain and reduce waste.
A Revolution in Dental Supplies
Wellplaece is revolutionizing the way dental offices manage their supplies. By streamlining the procurement process and providing a platform for suppliers to connect with customers, Wellplaece is making it easier for dental practices to save time and money. As the industry continues to grow, it’s clear that Wellplaece is at the forefront of innovation.
The Impact on the Industry
The impact of Wellplaece on the dental supplies industry will be significant. With a growing network of suppliers and a platform that streamlines the procurement process, dental offices can focus on what matters most: providing high-quality care to their patients. By reducing waste and optimizing supply chain management, Wellplaece is helping to create a more efficient and sustainable industry.
Conclusion
Wellplaece is a game-changer for the dental supplies industry. With its automated, multi-vendor platform, it’s making it easier for dental offices to manage their supplies and reduce waste. As the industry continues to grow, it’s clear that Wellplaece is at the forefront of innovation. By streamlining the procurement process and providing a platform for suppliers to connect with customers, Wellplaece is revolutionizing the way dental offices do business.
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