Changes in the marketplace, namely the shift to outcomes-based reimbursement, call for new approaches to financial management. Healthcare leaders are quickly realizing that now is the time to re-define core practices such as the annual budget process if they want to achieve success.
Transforming Your Strategy for Equipment Services and Replacement
For years, leaders at RWJBarnabas Health, West Orange, N.J., 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. However, such service came at a high price. In 2011, 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. The strategy also laid the groundwork for a new process that has dramatically changed how leaders at RWJBarnabas Health replace critical equipment as part of their capital planning process.
This session will demonstrate:
1. Continuous Quality Improvement: Learn the benefits of a service oriented clinical engineering management team on quality and satisfaction
2. Cost Effective Service Delivery: Learn how to change the vendor relationship with delivering cost effective service without jeopardizing quality
3. Utilizing Data Metrics for Decision Making: Learn how understanding the total cost of ownership for your healthcare organization’s equipment can assist in making more informed decisions around risk, service delivery contracts and replacement of equipment
1. Learn how incorporating different data metrics around the total cost of ownership can make for better decision making for replacement capital and service contracts
2. Learn how organizations can reduce costs through a more effective replacement process utilizing data and the right tools
3. Learn how Equipment Replacement creates a strategy and improves communication among various groups including senior management, finance, supply chain, and clinical engineering.