FAQ's
How do hospitals get started working with Miga? Call 1-800-913-6442 (MIGA). What is Miga? Miga is a healthcare and information services company. What does Miga do? Miga helps hospitals recover value, save costs and avoid waste from their medical equipment. Why is this work important? Hospitals want to save money. One often overlooked source of hard cash savings and value recovery is medical equipment. However, most hospitals don’t know where or how to look for these opportunities. So where are these opportunities? These opportunities are across all phases of the medical equipment lifecycle – from budgeting, purchasing, servicing, repairing and replacing the equipment. They are across all the different departments in the hospital that, when aggregated at an enterprise-wide level, result in meaningful cost savings, value recovery and waste avoidance. How much value recovery and cost savings are we talking about? For a typical 300-bed hospital, Miga estimates at least $500,000 to $1 million per year in cost savings and value recovery. Importantly, given the hospital’s operating margins, this amount has the bottom line equivalent of $25 million or more of new patient revenue. Often, the aggregated value of the cost savings is comparable to increasing one of your top five revenue generating departments by over 25% - without having to add staff, equipment or facilities. Why can’t hospitals take advantage of these opportunities now? Hospitals routinely apply proven market intelligence to make the most informed spending decisions. While they have easy access to industry data for purchasing new equipment, hospitals do not have easy access to data that could help them manage many hidden operating costs – warranty, service, rental, replacement – that exist across the equipment lifecycle. These hidden costs lead to unnecessary operating expenses that can dramatically increase the total cost of equipment ownership. This problem has one primary cause – lack of accurate information from a neutral source. Without unbiased market and pricing data, hospitals cannot answer basic questions that would allow them to make more informed, cost-effective spending decisions about their medical equipment. How does a hospital know that it has the right information? A hospital knows it has the right information if it can answer the following questions:
The answers to these questions are the keys that can unlock hidden value and cost savings. How does Miga deliver value recovery and cost savings for hospitals? Miga’s Equipment Value Management™ program has been developed to deliver the solution. Equipment Value Management™ provides the information, tools and services hospitals need to get the most value from their equipment-related spending. What allows Miga to deliver these services? Miga has a proprietary information platform – Miga AssetMax™ - that has the data, market information, tools and expertise to help hospitals manage medical equipment. Miga also has a global network of buyers, sellers, services and other key players in the medical equipment market that gives Miga unparalleled access to a broad range of critical market and technical information. What types of services do Miga provide? Miga has services that helps find opportunities across all phases of the medical equipment lifecycle. Miga’s services can be categorized into three areas:
What is Miga AssetMax™ and why is it important? Miga Assetmax™ is the technology platform that powers Equipment Value Management™. The industry’s only comprehensive, vendor-neutral platform for all makes and models of equipment, Miga Assetmax™ integrates the data, tools and services hospitals need to gain control of their medical equipment spending. It integrates all the critical elements: software tools to track and manage equipment information; a data warehouse with compiled market and pricing information not typically accessible to hospital staff; a global user network of product experts, buyers and suppliers, an e-commerce system for secure and reliable equipment transactions; and end-to-end logistics needed for reliable implementation. Miga AssetMax™ gives hospitals the information advantage that delivers the value recovery, cost savings and waste avoidance that together add up to a better bottom line. How does Miga’s Equipment Value Management™ Program work? Miga’s Equipment Value Management™ Program follows a standard three phase process that Miga has developed. The three phases are outlined below. PHASE l: Inventory, Opportunity Assessment and Plan Development PHASE ll: Program Setup and Implementation PHASE III: Ongoing Program Management, Analysis and Reporting Click here for more details on Equipment Value Management™ Program Why should hospitals work with Miga? Hospitals are Miga’s only clients. We’ve designed Miga’s business and operations around helping hospitals manage their medical equipment. Miga is comprehensive and vendor-neutral – we work with all types of equipment from all manufacturers. What types of equipment does Miga work with? Miga is vendor-neutral and works across all modalities. We aren’t interested in an Equipment Value Management™ Program at this time but have a very specific need that I’d like help with. Can Miga help? Yes, Miga offers targeted individual solutions through Miga OnDemand™. I have equipment I want to sell through Miga, how do I get started? Our seasoned account managers are always willing to help. Call 1-800-913-6441 to talk with one of our account managers today. I have equipment I want to buy, how can Miga help? Visit our e-commerce website, www.miga.com to search Miga’s current inventory. If you do not see what you are looking for, Miga can reach out to its global network to find equipment you need. Call a Miga Equipment Sales Consultant at 1-800-913-6441 to learn more. Why does Miga say that they can recover more money from my equipment than other resellers? Miga has found that our consignment model typically brings more value to our clients by aligning our interests with yours. Also, Miga has a broader reach to a global network of equipment buyers through its information platform, Miga AssetMax™ and e-commerce marketplace, miga.com, allowing for a larger opportunity to locate a buyer who will pay more for your equipment. Does Miga help with donations? Yes. Miga’s Sales & Disposition team works hand-in-hand with the Miga Foundation to donate your equipment. The Miga Foundation makes donated equipment available to charitable organizations around the world. Does Miga help with recycling? Yes. As a company supporting hospital’s sustainability efforts, Miga’s logistics team can coordinate a truck to pick up and recycle equipment that no longer has any use. What’s the difference between Miga Solutions and miga.com? Miga Solutions is the parent company that delivers its Equipment Value Management™ program, which includes the management of Miga Solutions’ e-commerce website, miga.com. What kind of assets do you take? We take everything: used medical equipment, used lab equipment, office equipment, and furniture. And unlike other service providers we don't just take the high-value items. Once we have had a chance to meet you and understand your needs, we are always willing to take everything you may have subject to reaching mutually agreeable terms for service and fees. Rather than selecting only the most desirable assets, "cherry picking" as we call it, our philosophy is to provide constructive solutions for every asset that you wish to dispose of regardless of condition, value and marketability. How does Miga keep me informed of progress and selling results? Once we reach an agreement, we will assign a single point of contact for your relationship with Miga. We are always available during normal business hours and our approach is designed to have all of the communication and documentation delivered by your Miga contact. We will always provide sales summary reports with a reconciliation of items sold, items listed for sale and items awaiting sale. In addition, we provide an easy to use, web-based inventory-tracking tool that gives you access to your Miga account 7 days a week, 24 hours a day from any web browser. What does Miga mean anyway? Miga is an acronym that stands for 'Make It Go Away,' where ‘It’ is the costs and headaches of managing medical equipment.