By Mike Reid, Vice President, Construction, Capital and Facility Services, Intalere, and Scott Vinson, President, Mitchell Planning Associates
Medical equipment is one of the highest costs in healthcare today. It touches nearly every aspect of healthcare: cost, quality, clinical outcomes, innovation and recruitment. Equipment intensive spaces such as lab, pharmacy, emergency, surgery, imaging and intensive care can have equipment costs that exceed the cost of construction.
The rapid pace of medical equipment technology change and its associated costs are such that healthcare facilities need resources to help manage these factors to achieve the best possible result. Facilities need to have plans and knowledge around the medical equipment industry with insight into the newest technology emerging on the market today to understand manufacturer costs, product feedback and vendor installation performance. What should a good capital equipment planning and procurement solution entail?
Benchmarking – Your plan should include a service for benchmarking routine annual capital equipment purchases and planned projects. The best benchmarks are those that provide clients with comparisons to actual prices paid from similar sized hospitals as opposed to anecdotal, average quotation comparisons. The service should provide clients with price analysis reports and negotiation services as well as market assessments and trends in equipment purchases.
Capital Budget Analysis and Reporting – Organizations should have access to a service which generates and analyzes budgets for routine annual capital equipment budget cycles and planned projects. Components should also include:
- Cost verification of capital budget reports.
- Anticipated costs of planned and ad hoc projects.
- Budgetary information for specific room types, such as hybrid OR, cath lab, ICU, etc.
Next week we’ll look at several more factors that impact a successful equipment planning and procurement solution including annual capital planning, medical equipment planning, procurement, installation and relocation management, and an equipment master plan.
Intalere and Mitchell Planning Associates can bring you the market’s most comprehensive capital equipment planning and procurement solution. Click here to learn more.