For years, leaders at RWJBarnabas Health relied on full-service contracts from equipment manufacturers to maintain their linear accelerators, robotic surgery systems, magnetic resonance imaging (MRI) scanners, and other critical equipment. These leaders decided to adopt a self-insured model combining labor from their in-house service technicians with original equipment manufacturer support purchased on an as-needed basis. Thanks to their efforts, leaders have reduced equipment service costs by 20-24 percent.
Infusing the Capital Process with Rigor and Discipline
Healthcare Financial Management cover story by Clay Ashdown of Intermountain Healthcare and Lynette Jasuta of Strata, examines how Intermountain Healthcare leaders redesigned their capital process to better align their investments with value-based care. They also share four key insights from inside and outside the industry to use when reviewing best practices in capital decision making.