How hospitals can save 20% with better equipment maintenance

Guest post by Kevin L. Shrake

Repair and maintenance of all of the sophisticated equipment available in healthcare organizations today is a major expense. Traditional approaches include decisions to provide or outsource biomedical services and when to utilize service contracts from the original equipment manufacturers. Innovative organizations are now deploying a customized approach that blends the best of several strategies into an efficient, cost-effective system anchored by a centralized contract management process.

Problem: A 300-bed not-for-profit acute care hospital in Northeast Pennsylvania is one of the leading providers of high-quality healthcare in the region. The facility had equipment that was not covered by any service contract. The management team was seeking an innovative solution that would minimize risk, organize and manage all contracts, and maximize cost savings to the hospital.

--> READ THE FULL COMMENTARY

Suggested Articles

We take a look back at health insurers' financial performance, including soaring profits, in Q2.

Employment growth in the healthcare industry cooled off in July as the sector added fewer jobs than in June as COVID-19 continues to spread.

Employers are making adjustments to their health benefits in the wake of COVID-19, but workers may not take the time to consider these new options.