Why Mobile Medical Equipment (MME) or Rental Equipment Management may be Beneficial for your Hospital
As hospitals continue to look for ways to reduce operational expense to offset declining reimbursement revenue, the impact of improved medical equipment asset management has become an area of increased interest. By improving the utilization of medical devices and identifying the optimal number of those devices needed to meet the clinical need, the hospital can eliminate surplus assets and all their associated operational expenses.
Increasingly, hospitals are looking at their mobile medical equipment (MME) utilization, as a means of both improving service delivery and reducing operational expenses. In a recent item in “Modern Healthcare.” one health system identified significant savings through the redesign of their MME model. Historically, hospitals have overestimated their MME needs, relying on inefficient practices for servicing, cleaning, and locating this equipment. Surplus assets still require and consume maintenance dollars, for routine maintenance, software updates, etc. Employing a more efficient methodologies to clean, maintain, and distribute these assets, can allow a hospital to reduce the total inventory while still improving the availability of these devices.
Rental equipment management is another area to review for cost savings. Many hospitals focus on reducing rental rates without considering the utilization of those devices, owned and rented, to ensure which rental equipment is required; And once a device is rented, ensuring that it is returned promptly to minimize rental expenditures. An analysis of rental equipment history can also identify where a capital investment is warranted, eliminating the rental expense completely.
Other medical equipment assets can benefit from utilizations reviews. Bringing in subject matter experts that you can partner with for optimal results, such as Soriant can provide the best outcomes. Soriant can evaluate scheduling practices; procedure times, hours of operation, etc. to see where utilization improvements can be made. During capital planning cycles, we can review utilization assumptions in the budget justification; validating growth projections and considering a new technology’s efficiencies.
Utilization analysis can also identify other areas for savings, such as rental equipment expenses. The same can be said for other alternative financing like reagent rentals and leases.
Please contact Soriant today to begin a dialogue about the best ways to reduce expenses, offset declining revenue and how we can be of service, email@example.com.