Saving money is healthcare’s mantra these days. Cutting costs in every corner of care is the obsession of doing business.
But knowing where to cut an already tight budget is a challenge. You must understand every component of cost and find effective resources to help you meet your goal — neither of which are easy to fit in between your “real” job of keeping the department running smoothly and making your patients and staff happy.
With medical imaging equipment making up a large portion of hospital capital outlays, and as service costs to keep it all running grow, a lot of eyes are watching radiology.
In this month’s cover story on asset management on page 24, Lisa Fratt offers a theory of evolution that is reflected in “The Changing Face of Asset Management.” It was a huge concept a few years ago. Many hoped radiology would find previously unrealized savings through better equipment management. Those high aspirations have been reached at some sites, but others have fallen short of their goals, largely due to hyped expectations and let-downs by asset management providers.
Hospitals still overpay for equipment maintenance, but most don’t know it because they don’t check what they get vs. what they pay for. And facilities still buy equipment that doesn’t satisfy true needs and isn’t maximized. Why? Because asset management isn’t a business priority.
Asset management is much more than getting a good deal on service. It is more than reaching and expanding your referral base by purchasing new equipment. It is about analyzing data, and it is about using that knowledge to make good decisions.
The concept of the chief technology officer as in-house expert on equipment-related data has been batted around healthcare for at least seven years. Little has come of it. Instead, the role is being filled virtually — through progressive asset management companies that offer equipment experts and decision-making software. Customers have been slow to bite, but many are beginning to realize that this is a concept to latch onto for the future. Those who have tried it are enjoying improvement to their bottom line.
In our Technology Management section, you’ll also find stories on refurbished equipment and effective budgeting. Among the most popular modalities of refurbished equipment — X-ray, R/F, CT, MRI and cardiac cath labs — this is a cost-effective solution. At 40 to 60 percent less than the cost of a new unit, the numbers work. Just as pre-owned cars have surged in appeal, pre-owned and refurbished systems are gaining favor with smart facilities. In addition to helping departments stay under budget on needed replacements, the smaller up-front capital outlay required by pre-owned equipment cuts the risk of experimenting with a new modality or increasing the capability of satellite clinics.
The budgeting theme continues in Senior Editor Wayne Forrest’s interview with Agilent’s Bob Ford and Joe McGoldrick. As you’ll read, Ford and McGoldrick offer insight into several creative acquisition options — deferred financing, leasing, fee-per-scan and short-term rental.
Good luck with your department’s financial decisions — they’re always challenging, but yield a great sense of accomplishment when you make them well.
Mary C. Tierney, Editor
